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Goodwill and Other Intangible Assets, Net | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets, Net | Goodwill and Other Intangible Assets, Net The changes in the carrying amount of goodwill were as follows (in thousands):
| Goodwill
Balance at December 31, 2024 | $ | 540,290 |
Acquisitions | 88,675 |
Measurement period adjustments | (4,346) |
Cumulative translation adjustment | 1,029 |
Balance at June 30, 2025 | $ | 625,648 |
For additional information on Goodwill, see Note 4—“Acquisitions.” Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets. Other intangible assets consisted of the following (in thousands, except weighted-average remaining life):
| June 30, 2025
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted-Average Remaining Life (Years)
Definite life intangible assets: |  |  |  |  |  |  |
Customer-related | $ | 395,734 |  |  | $ | 125,746 |  |  | $ | 269,988 |  |  | 11.7
Technology | 86,097 |  |  | 25,291 |  |  | 60,806 |  |  | 11.8
Non-compete agreements | 21,816 |  |  | 21,168 |  |  | 648 |  |  | 1.3
Patents | 12,882 |  |  | 11,343 |  |  | 1,539 |  |  | 2.7
All other | 37,966 |  |  | 7,819 |  |  | 30,147 |  |  | 10.6
Total definite life intangible assets | 554,495 |  |  | 191,367 |  |  | 363,128 |  |  |
Indefinite life intangible assets: |  |  |  |  |  |  |
Trade names | 79,570 |  |  | — |  |  | 79,570 |  |  | N/A
Licenses | 2,619 |  |  | — |  |  | 2,619 |  |  | N/A
Domain name | 454 |  |  | — |  |  | 454 |  |  | N/A
Total indefinite life intangible assets | 82,643 |  |  | — |  |  | 82,643 |  |  | N/A
Total | $ | 637,138 |  |  | $ | 191,367 |  |  | $ | 445,771 |  |  |
| December 31, 2024
| Gross Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Weighted- Average Remaining Life (Years)
Definite life intangible assets: |  |  |  |  |  |  |
Customer-related | $ | 256,374 |  |  | $ | 113,590 |  |  | $ | 142,784 |  |  | 10.8
Technology | 23,997 |  |  | 23,997 |  |  | — |  |  | N/A
Non-compete agreements | 21,815 |  |  | 20,621 |  |  | 1,194 |  |  | 1.5
Patents | 12,577 |  |  | 11,102 |  |  | 1,475 |  |  | 2.7
All other | 19,937 |  |  | 6,711 |  |  | 13,226 |  |  | 12.1
Total definite life intangible assets | 334,700 |  |  | 176,021 |  |  | 158,679 |  |  |
Indefinite life intangible assets: |  |  |  |  |  |  |
Trade names | 79,570 |  |  | — |  |  | 79,570 |  |  | N/A
Licenses | 2,207 |  |  | — |  |  | 2,207 |  |  | N/A
Domain name | 454 |  |  | — |  |  | 454 |  |  | N/A
Total indefinite life intangible assets | 82,231 |  |  | — |  |  | 82,231 |  |  | N/A
Total | $ | 416,931 |  |  | $ | 176,021 |  |  | $ | 240,910 |  |  |
Intangible amortization expense was $9.8 million and $4.7 million for the three months ended June 30, 2025 and 2024, respectively. Intangible amortization expense was $15.3 million and $9.6 million for the six months ended June 30, 2025 and 2024, respectively. Intangible amortization is included as part of “Other expenses” in the Company’s unaudited Condensed Consolidated Statements of Operations. There were no impairment charges for the Company’s definite and indefinite life intangibles for the three and six months ended June 30, 2025 and 2024. The estimated future amortization expense of definite life intangible assets as of June 30, 2025 is as follows (in millions):
2025 (excluding the six months ended June 30, 2025) | $ | 19.4 |
2026 | 38.0 |
2027 | 33.7 |
2028 | 32.9 |
2029 | 29.2 |
2030 and thereafter | 209.9 |
Total | $ | 363.1 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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