XML 27 R16.htm IDEA: XBRL DOCUMENT v3.25.0.1

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Note 6. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 by reportable segment were as follows (in thousands):

		First Advantage Americas				First Advantage International				Sterling				Total
Balance – December 31, 2022		$	677,171			$	115,909			$	—			$	793,080
Acquisitions			26,519				—				—				26,519
Foreign currency translation			107				948				—				1,055
Balance – December 31, 2023		$	703,797			$	116,857			$	—			$	820,654
Acquisition			—				—				1,313,365				1,313,365
Adjustments to initial purchase price allocations			(368	)			—				—				(368	)
Foreign currency translation			(135	)			(2,516	)			(6,472	)			(9,123	)
Balance – December 31, 2024		$	703,294			$	114,341			$	1,306,893			$	2,124,528

The following summarizes the gross carrying value and accumulated amortization for the Company’s trade names, customer lists, and other intangible assets as of December 31, 2024 and 2023 (in thousands):

		December 31, 2024
		Gross Carrying Value				Accumulated Amortization				Net Carrying Value				Useful Life (in years)
Trade names		$	157,740			$	(39,265	)		$	118,475			5-20 years
Customer lists			1,170,327				(302,632	)			867,695			13-14 years
Other intangible assets			2,400				(622	)			1,778			5 years
Total		$	1,330,467			$	(342,519	)		$	987,948

		December 31, 2023
		Gross Carrying Value				Accumulated Amortization				Net Carrying Value				Useful Life (in years)
Trade names		$	96,321			$	(30,092	)		$	66,229			20 years
Customer lists			520,105				(244,577	)			275,528			13-14 years
Other intangible assets			2,400				(143	)			2,257			5 years
Total		$	618,826			$	(274,812	)		$	344,014

Amortization expense of trade names, customer lists, and other intangible assets was approximately $68.7 million, $62.1 million, and $68.3 million, for the years ended December 31, 2024, 2023, and 2022, respectively.

Amortization expense relating to trade names, customer lists, and other intangible assets is expected to be as follows (in thousands):

Years Ending December 31,
2025		$	136,682
2026			137,341
2027			122,693
2028			111,583
2029			97,620
Thereafter			382,029
		$	987,948

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration