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Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

Changes in the carrying amount of goodwill were as follows:

(in thousands)
Balance at December 31, 2023			$	1,176,635
Additions from acquisitions			26,948
Effects of movements in foreign exchange rates			(2,230)
Balance at December 31, 2024			1,201,353
Additions from acquisitions			54,478
Effects of movements in foreign exchange rates			1,433
Balance at June 30, 2025			$	1,257,264

Intangible Assets

Intangible assets other than goodwill at the respective balance sheet dates consisted of the following:

			June 30, 2025
(in thousands)			Weighted average remaining life (in years)						Gross carrying amount						Accumulated impairment loss						Accumulated amortization						Net book value
Intangible assets subject to amortization:
Customer relationships			3.5						$	234,108					$	—					$	(128,798)					$	105,310
Technology			1.0						1,500						—						(1,250)						250
Trade names			2.3						165,500						(132,540)						(16,726)						16,234
Indefinite-lived intangible assets:
Trade name – WillScot									125,000						—						—						125,000
Total intangible assets other than goodwill									$	526,108					$	(132,540)					$	(146,774)					$	246,794

			December 31, 2024
(in thousands)			Weighted average remaining life (in years)						Gross carrying amount						Accumulated impairment loss						Accumulated amortization						Net book value
Intangible assets subject to amortization:
Customer relationships			3.5						$	215,408					$	—					$	(113,415)					$	101,993
Technology			1.5						1,500						—						(1,125)						375
Trade names			2.7						165,500						(132,540)						(9,164)						23,796
Indefinite-lived intangible assets:
Trade name – WillScot									125,000						—						—						125,000
Total intangible assets other than goodwill									$	507,408					$	(132,540)					$	(123,704)					$	251,164

Amortization expense related to intangible assets was $11.8 million and $7.3 million for the three months ended June 30, 2025 and 2024, respectively, and $23.1 million and $14.7 million for the six months ended June 30, 2025 and 2024, respectively.

As of June 30, 2025, the expected future amortization expense for intangible assets was as follows for the years ended December 31:

(in thousands)
2025 (remaining)			$	22,704
2026			40,210
2027			33,581
2028			18,037
2029			3,367
Thereafter			3,895
Total			$	121,794

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- References

No definition available.

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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

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