| Schedule of Changes in Goodwill |
The following table summarizes changes in goodwill during the three months ended March 31, 2024 (in thousands):
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|
|
|
|
|
| Goodwill: |
|
| Balance at December 31, 2023 |
$ |
1,070,310
|
|
| Additions |
27,337 |
|
|
|
| Adjustments due to currency translation and other |
(2,506) |
|
| Balance at March 31, 2024 |
$ |
1,095,141
|
|
|
| Schedule of Components of Indefinite-lived and Amortizable Intangible Assets |
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of March 31, 2024, and December 31, 2023 (in thousands):
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|
March 31, 2024 |
|
December 31, 2023 |
|
|
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Gross |
|
Accumulated
Amortization |
|
Carrying
Value |
|
Useful Life
in Years |
| Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer contracts |
$ |
645,021 |
|
|
$ |
(255,822) |
|
|
$ |
389,199 |
|
|
$ |
625,920 |
|
|
$ |
(239,768) |
|
|
$ |
386,152 |
|
|
3-20 |
| Trademarks and tradenames |
22,413 |
|
|
(10,324) |
|
|
12,089 |
|
|
21,566 |
|
|
(9,933) |
|
|
11,633 |
|
|
7-20 |
| Other intangible assets |
25,376 |
|
|
(19,233) |
|
|
6,143 |
|
|
24,766 |
|
|
(18,779) |
|
|
5,987 |
|
|
3-20 |
| Total amortizable intangible assets |
$ |
692,810 |
|
|
$ |
(285,379) |
|
|
$ |
407,431 |
|
|
$ |
672,252 |
|
|
$ |
(268,480) |
|
|
403,772 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indefinite-lived intangible assets |
|
|
|
|
141,959 |
|
|
|
|
|
|
141,962 |
|
|
|
| Total customer contracts and other intangible assets |
|
|
|
|
$ |
549,390 |
|
|
|
|
|
|
$ |
545,734 |
|
|
|
|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense for the existing carrying amount of customer contracts and other intangible assets for each of the five succeeding fiscal years as of March 31, 2024 are as follows:
|
|
|
|
|
|
| (in thousands) |
|
| 2024 (excluding the three months ended March 31, 2024) |
$ |
61,384 |
|
| 2025 |
72,147 |
|
| 2026 |
68,042 |
|
| 2027 |
64,176 |
|
| 2028 |
62,165 |
|
|