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Intangible assets | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible assets | Intangible assets The carrying amount of Intangible Assets as of June 30, 2025 and December 31, 2024 is as follows:
| June 30, 2025 | December 31, 2024
| (in thousands)
Cost |  |
Customer relationships | $ | 4,134,482 |  | $ | 4,129,501 |
Order backlog | 545,993 |  | 543,933 |
Trade names & brands | 204,717 |  | 204,588 |
Patient database | 170,563 |  | 170,324 |
Technology assets | 151,718 |  | 150,658 |
Total cost | 5,207,473 |  | 5,199,004 |
Accumulated amortization | (1,764,377) |  | (1,639,212) |
Net book value | $ | 3,443,096 |  | $ | 3,559,792 |
In the three months ended June 30, 2025, the amortization expense recognized by the Company was $59.1 million (three months ended June 30, 2024: $116.5 million). In the six months ended June 30, 2025, the amortization expense recognized by the Company was $118.0 million (six months ended June 30, 2024: $233.0 million and ye ar ended December 31, 2024: $350.3 million). The decrease in amortization is due to the order backlog and trade name intangible assets recognized in connection with the merger of Indigo Merger Sub, Inc., a Delaware corporation and subsidiary of ICON, with and into PRA Health Sciences, Inc., the parent of PRA Health Sciences on July 1, 2021 ("PRA Merger") amounting to $500.0 million and $202.0 million respectively as of the date of acquisition, becoming fully amortized on July 1, 2024. There were no additions to intangible assets during the six months ended June 30, 2025.

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