Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS

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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
The following table summarizes changes in goodwill during the nine months ended September 30, 2024 (in thousands):
Balance at December 31, 2023 $ 1,070,310 
Additions 61,689 
Adjustments due to currency translation and other 3,123 
Balance at September 30, 2024 $ 1,135,122 
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of September 30, 2024 and December 31, 2023 (in thousands):
September 30, 2024 December 31, 2023
Gross Accumulated
Amortization		 Carrying
Value		 Gross Accumulated
Amortization		 Carrying
Value		 Useful Life
in Years
Amortizable intangible assets:
Customer contracts $ 674,690  $ (293,493) $ 381,197  $ 625,920  $ (239,768) $ 386,152 
3-20
Trademarks and tradenames 23,367  (11,806) 11,561  21,566  (9,933) 11,633 
7-20
Other intangible assets 26,577  (20,574) 6,003  24,766  (18,779) 5,987 
3-20
Total amortizable intangible assets $ 724,634  $ (325,873) $ 398,761  $ 672,252  $ (268,480) 403,772 
Indefinite-lived intangible assets 141,960  141,962 
Total customer contracts and other intangible assets $ 540,721  $ 545,734 
Amortization expense related to intangible assets was $19.2 million and $16.5 million for the three months ended September 30, 2024 and 2023, respectively. Amortization expense related to intangible assets was $57.2 million and $48.5 million for the nine months ended September 30, 2024 and 2023, respectively. Customer contracts and other amortizable intangible assets are amortized on a straight-line basis over their economic useful lives.
Estimated amortization expense for the existing carrying amount of amortizable intangible assets for each of the five succeeding fiscal years as of September 30, 2024 are as follows:
(in thousands)
2024 (excluding the nine months ended September 30, 2024) $ 18,952 
2025 76,087 
2026 71,931 
2027 68,065 
2028 66,054