Quarterly report pursuant to Section 13 or 15(d)

GOODWILL AND INTANGIBLE ASSETS

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GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 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 six months ended June 30, 2024 (in thousands):
Balance at December 31, 2023 $ 1,070,310 
Additions 47,654 
Adjustments due to currency translation and other (1,749)
Balance at June 30, 2024 $ 1,116,215 
The following table sets forth the components of indefinite-lived and amortizable intangible assets as of June 30, 2024 and December 31, 2023 (in thousands):
June 30, 2024 December 31, 2023
Gross Accumulated
Amortization		 Carrying
Value		 Gross Accumulated
Amortization		 Carrying
Value		 Useful Life
in Years
Amortizable intangible assets:
Customer contracts $ 660,242  $ (274,031) $ 386,211  $ 625,920  $ (239,768) $ 386,152 
3-20
Trademarks and tradenames 22,527  (10,924) 11,603  21,566  (9,933) 11,633 
7-20
Other intangible assets 26,050  (19,843) 6,207  24,766  (18,779) 5,987 
3-20
Total amortizable intangible assets $ 708,819  $ (304,798) $ 404,021  $ 672,252  $ (268,480) 403,772 
Indefinite-lived intangible assets 141,958  141,962 
Total customer contracts and other intangible assets $ 545,979  $ 545,734 
Amortization expense related to intangible assets was $19.3 million and $18.0 million for the three months ended June 30, 2024 and 2023, respectively. Amortization expense related to intangible assets was $38.0 million and $32.0 million for the six months ended June 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 June 30, 2024 are as follows:
(in thousands)
2024 (excluding the six months ended June 30, 2024) $ 42,771 
2025 74,333 
2026 70,233 
2027 66,367 
2028 64,356