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Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Intangible Assets Disclosure [Abstract] |
Intangible Assets | NOTE 9: INTANGIBLE ASSETS Intangible assets consist of the following:
|  | As of December 31, 2024 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Balance |  |  | Weighted-Average Amortization Period Remaining |
|  | (in thousands) |  |  | (in years) |
Customer relationships |  | $ | 1,461,276 |  |  | $ | (456,575 | ) |  | $ | 1,004,701 |  |  |  | 12.9 |
OEM authorizations and licenses |  |  | 334,009 |  |  |  | (172,487 | ) |  |  | 161,522 |  |  |  | 11.8 |
Trademarks |  |  | 204,000 |  |  |  | (78,247 | ) |  |  | 125,753 |  |  |  | 9.3 |
Technology and other |  |  | 9,127 |  |  |  | (4,915 | ) |  |  | 4,212 |  |  |  | 5.6 |
Total intangible assets |  | $ | 2,008,412 |  |  | $ | (712,224 | ) |  | $ | 1,296,188 |  |  |  | 12.4 |
|  | As of December 31, 2023 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Balance |  |  | Weighted-Average Amortization Period Remaining |
|  | (in thousands) |  |  | (in years) |
Customer relationships |  | $ | 1,386,276 |  |  | $ | (375,529 | ) |  | $ | 1,010,747 |  |  |  | 13.7 |
OEM authorizations and licenses |  |  | 299,710 |  |  |  | (159,227 | ) |  |  | 140,483 |  |  |  | 11.8 |
Trademarks |  |  | 204,000 |  |  |  | (64,646 | ) |  |  | 139,354 |  |  |  | 10.3 |
Technology and other |  |  | 9,092 |  |  |  | (3,949 | ) |  |  | 5,143 |  |  |  | 6.2 |
Total intangible assets |  | $ | 1,899,078 |  |  | $ | (603,351 | ) |  | $ | 1,295,727 |  |  |  | 13.1 |
The Company’s amortization expense was $125.2 million, $127.0 million and $126.0 million for the years ended December 31, 2024, 2023, and 2022, respectively. Amortization of OEM authorizations and licenses is included within cost of revenue and the remainder is presented separately in the consolidated statement of operations. Estimated amortization expense for each of the five succeeding fiscal years is as follows:
|  | Amortization Expense |
|  | (in thousands) |
2025 |  | $ | 130,974 |
2026 |  |  | 121,389 |
2027 |  |  | 111,095 |
2028 |  |  | 109,586 |
2029 |  |  | 106,421 |
There were no impairment charges recorded for intangible assets for the years ended December 31, 2024 or 2023. During the year ended December 31, 2022, the Company determined that the carrying value of an OEM license exceeded its fair value and recorded a non-cash impairment charge of $3.6 million to “Cost of revenue” in the Consolidated Statements of Operations.

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