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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill and intangible assets on our consolidated balance sheets consisted of the following:
| December 31,
| 2024 |  | 2023
| (In thousands)
Goodwill | $ | 301,790 |  |  | $ | 301,790 |
Intangible assets, net | 96,151 |  |  | 118,687 |
Goodwill and intangible assets | $ | 397,941 |  |  | $ | 420,477 |
Goodwill There were no changes in the composition of goodwill from the previous year either on a consolidated basis or within our reportable segments. We completed our annual goodwill impairment test as of November 30, 2024. Based on the results of the annual goodwill impairment test, we determined that each of the fair values of our reporting units exceeded their carrying values and therefore, no impairment was recorded. Note 9—Goodwill and Intangible Assets (continued) Intangible Assets The gross carrying amounts and accumulated amortization related to intangibles assets were as follows:
| December 31, 2024 |  | December 31, 2023 |  |
| Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value |  | Weighted Average Useful Lives
| (In thousands) |  | (In thousands) |  | (Years)
Customer relationships | $ | 250,800 |  |  | $ | (173,887) |  |  | $ | 76,913 |  |  | $ | 309,773 |  |  | $ | (214,416) |  |  | $ | 95,357 |  |  | 14.0
Trade names | 43,386 |  |  | (30,356) |  |  | 13,030 |  |  | 44,086 |  |  | (28,524) |  |  | 15,562 |  |  | 14.7
Patents | 3,000 |  |  | (2,727) |  |  | 273 |  |  | 3,000 |  |  | (2,455) |  |  | 545 |  |  | 11.0
Software licenses | 17,842 |  |  | (11,964) |  |  | 5,878 |  |  | 15,835 |  |  | (8,697) |  |  | 7,138 |  |  | 4.1
Other | 926 |  |  | (869) |  |  | 57 |  |  | 5,964 |  |  | (5,879) |  |  | 85 |  |  | 9.6
Total intangible assets | $ | 315,954 |  |  | $ | (219,803) |  |  | $ | 96,151 |  |  | $ | 378,658 |  |  | $ | (259,971) |  |  | $ | 118,687 |  |  |
Amortization expense on finite-lived intangibles, a component of other general and administrative expenses, was $21.3 million, $24.3 million, and $23.5 million for the years ended December 31, 2024, 2023, and 2022, respectively. None of our intangible assets were impaired as of December 31, 2024 or 2023. The following table shows our estimated amortization expense for intangible assets for each of the next five succeeding years and thereafter:
| December 31,
| (In thousands)
2025 | $ | 24,279 |
2026 | 22,764 |
2027 | 18,513 |
2028 | 16,767 |
2029 | 13,828 |
Total | $ | 96,151 |

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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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