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Goodwill, Trade Names, Customer Lists and Other Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 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 six months ended June 30, 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

 

 

—

 

 

 

—

 

 

 

6,440

 

 

 

6,440

 

Foreign currency translation

 

 

46

 

 

 

3,323

 

 

 

9,022

 

 

 

12,391

 

Balance – June 30, 2025

 

$

703,340

 

 

$

117,664

 

 

$

1,322,355

 

 

$

2,143,359

 
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 June 30, 2025 and December 31, 2024 (in thousands):

 

 

June 30, 2025

 

 

Gross
Carrying Value

 

 

Accumulated
Amortization

 

 

Net
Carrying Value

 

 

Useful Life
(in years)

Trade names

 

$

158,473

 

 

$

(49,179

)

 

$

109,294

 

 

5-20 years

Customer lists

 

 

1,176,724

 

 

 

(362,227

)

 

 

814,497

 

 

13-14 years

Other intangible assets

 

 

2,404

 

 

 

(868

)

 

 

1,536

 

 

5 years

Total

 

$

1,337,601

 

 

$

(412,274

)

 

$

925,327

 

 

 

 

 

 

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