v3.25.2
Intangible Assets, Net and Certain Cloud Computing Costs
 6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net and Certain Cloud Computing Costs Intangible Assets, Net and Certain Cloud Computing Costs
Intangible assets, net consisted of the following (dollars in thousands):

Useful
Life		Gross ValueAccumulated
Amortization		Net Carrying
Value		 Weighted
Average
Remaining
Useful Life
(Years)
June 30, 2025
Client and other relationships
2 to 20 years
$1,515,919 $(553,147)$962,772 10.9
Trademarks
2 to 15 years
330,324 (271,208)59,116 5.2
Software
3 to 5 years
644,057 (383,695)260,362 2.0
Acquired technology
4 to 7 years
341,860 (240,804)101,056 2.3
Intangible assets, net$2,832,160 $(1,448,854)$1,383,306 8.4
December 31, 2024
Client relationships
2 to 20 years
$1,453,811 $(490,426)$963,385 11.6
Trademarks
2 to 15 years
324,229 (263,671)60,558 5.8
Software
3 to 5 years
575,106 (293,588)281,518 2.1
Acquired technology
4 to 7 years
341,563 (215,664)125,899 2.8
Intangible assets, net$2,694,709 $(1,263,349)$1,431,360 8.7

The following table presents the Company's amortization of intangible assets expense by component (in thousands):

Three Months Ended
June 30,		Six Months Ended
June 30,
2025202420252024
Amortization of acquired intangibles$44,372 $64,102 $86,783 $128,283 
Amortization of capitalized software development costs44,292 30,760 86,185 61,636 
Amortization of intangible assets$88,664 $94,862 $172,968 $189,919 

Periodic amortization of intangible assets that will be charged to expense over the remaining life of the intangible assets as of June 30, 2025 was as follows (in thousands):

Years Ending December 31,
2025$167,792 
2026288,550 
2027216,672 
2028121,973 
2029 and thereafter588,319 
$1,383,306 

Net cloud computing costs, which are primarily related to the implementation of the Company's customer relationship management ("CRM") and enterprise resource planning ("ERP") systems, are recorded in "Other assets" in the Company's Condensed Consolidated Balance Sheets. As of June 30, 2025 and December 31, 2024, the cloud computing costs were $44.4 million and $44.8 million, respectively. The associated expense for cloud computing costs, which is recorded in general and administration expense, was $1.9 million and $1.2 million for the three months ended June 30, 2025 and 2024, respectively. For the six months ended June 30, 2025 and 2024, the associated expense for cloud
computing costs was $3.8 million and $2.4 million, respectively. The capitalized cloud computing implementation costs are amortized over the shorter of the term of the related cloud computing arrangement or the period of benefit from the right to access the hosted software. The amortization period will be periodically reassessed to determine if it continues to be reasonable.