Intangible Assets

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7. Intangible Assets

Intangible assets consisted of the following as of:


	June 30, 2025
	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Book Value
	(in thousands)

Customer relationships	5-20 years	$	511,583	$	348,495	$	163,088
Developed technology	5-12 years	93,899		80,559		13,340
Trade name	3-10 years	33,894		26,283		7,611
Non-compete agreements	5 years	1,940		1,935		5
Total		$	641,316	$	457,272	$	184,044


	December 31, 2024
	Useful Life	Gross Carrying Value		Accumulated Amortization		Net Book Value
	(in thousands)

Customer relationships	5-20 years	$	511,374	$	327,038	$	184,336
Developed technology	5-12 years	93,855		76,430		17,425
Trade name	3-10 years	33,881		24,477		9,404
Non-compete agreements	5 years	1,936		1,929		7
Total		$	641,046	$	429,874	$	211,172

Amortization expense was $13.5 million and $16.8 million for the three months ended June 30, 2025 and 2024, respectively, and $27.2 million and $34.3 million for the six months ended June 30, 2025 and 2024, respectively.