| Summary of Changes in Goodwill |
Changes in goodwill for the years ended December 31, 2025 and 2024, are as follows:
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|
(in thousands) |
|
Branded Services |
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Experiential Services |
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Retailer Services |
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Total |
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Gross carrying amount at December 31, 2023 |
|
$ |
252,809 |
|
|
$ |
239,427 |
|
|
$ |
217,955 |
|
|
$ |
710,191 |
|
Impairment charge |
|
|
(233,170 |
) |
|
|
— |
|
|
|
— |
|
|
|
(233,170 |
) |
Gross carrying amount at December 31, 2024 |
|
|
19,639 |
|
|
|
239,427 |
|
|
|
217,955 |
|
|
|
477,021 |
|
Impairment charge |
|
|
(13,128 |
) |
|
|
— |
|
|
|
(23,457 |
) |
|
|
(36,585 |
) |
Divestiture |
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|
(1,536 |
) |
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|
— |
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|
|
— |
|
|
|
(1,536 |
) |
Gross carrying amount at December 31, 2025 |
|
$ |
4,975 |
|
|
$ |
239,427 |
|
|
$ |
194,498 |
|
|
$ |
438,900 |
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|
| Summary of Intangible Assets |
The following tables set forth information for intangible assets:
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|
December 31, 2025 |
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(amounts in thousands) |
|
Weighted Average Useful Life |
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Accumulated
Impairment Charges |
|
|
Net Carrying
Value |
|
Finite-lived intangible assets: |
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|
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|
|
|
|
|
|
Client relationships |
|
14 years |
|
$ |
2,256,367 |
|
|
$ |
1,722,227 |
|
|
$ |
— |
|
|
$ |
534,140 |
|
Trade names |
|
10 years |
|
|
88,600 |
|
|
|
71,213 |
|
|
|
— |
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|
|
17,387 |
|
Total finite-lived intangible assets |
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|
2,344,967 |
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|
1,793,440 |
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|
|
— |
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|
|
551,527 |
|
Indefinite-lived intangible assets: |
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|
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|
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|
|
Trade name |
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|
|
|
1,480,000 |
|
|
|
— |
|
|
|
1,037,600 |
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|
|
442,400 |
|
Total other intangible assets |
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|
$ |
3,824,967 |
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|
$ |
1,793,440 |
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|
$ |
1,037,600 |
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|
$ |
993,927 |
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|
December 31, 2024 |
|
(amounts in thousands) |
|
Weighted Average Useful Life |
|
Gross
Carrying
Value |
|
|
Accumulated
Amortization |
|
|
Accumulated
Impairment Charges |
|
|
Net Carrying
Value |
|
Finite-lived intangible assets: |
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|
|
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|
|
|
|
|
|
|
|
Client relationships |
|
14 years |
|
$ |
2,256,382 |
|
|
$ |
1,559,551 |
|
|
$ |
— |
|
|
$ |
696,831 |
|
Trade names |
|
10 years |
|
|
88,600 |
|
|
|
62,353 |
|
|
|
— |
|
|
|
26,247 |
|
Total finite-lived intangible assets |
|
|
2,344,982 |
|
|
|
1,621,904 |
|
|
|
— |
|
|
|
723,078 |
|
Indefinite-lived intangible assets: |
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|
|
|
|
|
|
|
|
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|
Trade name |
|
|
|
|
1,480,000 |
|
|
|
— |
|
|
|
870,500 |
|
|
|
609,500 |
|
Total other intangible assets |
|
$ |
3,824,982 |
|
|
$ |
1,621,904 |
|
|
$ |
870,500 |
|
|
$ |
1,332,578 |
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| Summary of Estimated Future Amortization Expenses of Finite Lived Intangible Assets |
As of December 31, 2025, estimated future amortization expenses of the Company’s finite-lived intangible assets are as follows:
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(in thousands) |
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2026 |
|
$ |
169,131 |
|
2027 |
|
|
167,500 |
|
2028 |
|
|
133,069 |
|
2029 |
|
|
76,636 |
|
2030 |
|
|
3,442 |
|
Thereafter |
|
|
1,749 |
|
Total amortization expense |
|
$ |
551,527 |
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|