Depreciation and Amortization

9 Months Ended

Sep. 30, 2025

Property, Plant and Equipment [Abstract]

Amounts charged to expense in the Company’s unaudited Condensed Consolidated Statements of Operations for depreciation and amortization were as follows:


	Amortization						Depreciation
	Residual Commission Buyouts		Other Intangible Assets		Capitalized Customer Acquisition Costs		Equipment Under Lease		Property, Plant and Equipment		Total
Three Months Ended September 30, 2025
Depreciation and amortization expense	$	22.6	$	39.0	$	—	$	19.4	$	4.8	$	85.8
Cost of sales	—		30.7		8.3		—		0.3		39.3
Total depreciation and amortization (a)	$	22.6	$	69.7	$	8.3	$	19.4	$	5.1	$	125.1

Three Months Ended September 30, 2024
Depreciation and amortization expense	$	21.8	$	13.0	$	—	$	14.1	$	2.7	$	51.6
Cost of sales	—		18.5		6.6		—		0.6		25.7
Total depreciation and amortization (b)	$	21.8	$	31.5	$	6.6	$	14.1	$	3.3	$	77.3

Nine Months Ended September 30, 2025
Depreciation and amortization expense	$	67.9	$	67.4	$	—	$	53.1	$	11.0	$	199.4
Cost of sales	—		75.5		23.3		—		0.5		99.3
Total depreciation and amortization (c)	$	67.9	$	142.9	$	23.3	$	53.1	$	11.5	$	298.7

Nine Months Ended September 30, 2024
Depreciation and amortization expense	$	65.3	$	31.0	$	—	$	39.0	$	7.8	$	143.1
Cost of sales	—		50.8		18.4		—		0.8		70.0
Total depreciation and amortization (d)	$	65.3	$	81.8	$	18.4	$	39.0	$	8.6	$	213.1

(a) Total amortization of $100.6 million consisted of amortization of acquired intangibles of $78.2 million and amortization of non-acquired intangibles of $22.4 million.

(b) Total amortization of $59.9 million consisted of amortization of acquired intangibles of $43.5 million and amortization of non-acquired intangibles of $16.4 million.

(c) Total amortization of $234.1 million consisted of amortization of acquired intangibles of $170.9 million and amortization of non-acquired intangibles of $63.2 million.

(d) Total amortization of $165.5 million consisted of amortization of acquired intangibles of $120.3 million and amortization of non-acquired intangibles of $45.2 million.

As of September 30, 2025, the estimated amortization expense for each of the five succeeding years and thereafter is as follows:


	Residual Commission Buyouts		Other Intangible Assets		Capitalized Customer Acquisition Costs		Total Amortization		Amortization of Acquired Intangible Assets
2025 (remaining three months)	$	22.9	$	68.1	$	8.8	$	99.8	$	75.5
2026	59.1		259.6		29.7		348.4		264.9
2027	10.7		237.5		23.3		271.5		209.6
2028	9.1		203.6		14.3		227.0		196.9
2029	4.0		182.7		4.1		190.8		186.7
Thereafter	2.0		1,876.0		—		1,878.0		1,878.0
Total	$	107.8	$	2,827.5	$	80.2	$	3,015.5	$	2,811.6