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Goodwill, Trade Names, Customer Lists and Other Intangible Assets (Tables)
 3 Months Ended
Mar. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill

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

 
Summary of Gross Carrying Value and Accumulated Amortization of Finite-Lived Intangible Assets

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