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Goodwill, Trade Names, Customer Lists and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill, Trade Names, Customer Lists and Other Intangible Assets | Note 5. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the three months ended March 31, 2025 by reportable segment were as follows (in thousands):
|  | First Advantage Americas |  |  | First Advantage International |  |  | Sterling |  |  | Total |
Balance – December 31, 2024 |  | $ | 703,294 |  |  | $ | 114,341 |  |  | $ | 1,306,893 |  |  | $ | 2,124,528 |
Adjustments to initial purchase price allocations |  |  | — |  |  |  | — |  |  |  | 208 |  |  |  | 208 |
Foreign currency translation |  |  | 2 |  |  |  | 1,032 |  |  |  | 2,248 |  |  |  | 3,282 |
Balance – March 31, 2025 |  | $ | 703,296 |  |  | $ | 115,373 |  |  | $ | 1,309,349 |  |  | $ | 2,128,018 |
The following summarizes the gross carrying value and accumulated amortization for the Company’s trade names, customer lists, and other intangible assets as of March 31, 2025 and December 31, 2024 (in thousands):
|  | March 31, 2025
|  | Gross Carrying Value |  |  | Accumulated Amortization |  |  | Net Carrying Value |  |  | Useful Life (in years)
Trade names |  | $ | 157,937 |  |  | $ | (44,173 | ) |  | $ | 113,764 |  |  | 5-20 years
Customer lists |  |  | 1,172,012 |  |  |  | (332,074 | ) |  |  | 839,938 |  |  | 13-14 years
Other intangible assets |  |  | 2,400 |  |  |  | (745 | ) |  |  | 1,655 |  |  | 5 years
Total |  | $ | 1,332,349 |  |  | $ | (376,992 | ) |  | $ | 955,357 |  |  |
|  | 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 |  |  |
Amortization expense of trade names, customer lists, and other intangible assets was approximately $34.1 million and $14.3 million for the three months ended March 31, 2025 and 2024, respectively. Trade names and customer lists are amortized on an accelerated basis based upon their estimated useful life. Other intangible assets are amortized on a straight-line or accelerated basis over their expected useful life of five years.

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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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