| Goodwill and Intangible Assets |
5. Goodwill and Intangible Assets A summary of changes to goodwill, by reportable segment, is as follows (in thousands):
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Goodwill |
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Pharmacy Solutions |
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Provider Services |
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Total |
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Goodwill at January 1, 2026* |
|
$ |
841,052 |
|
|
$ |
1,704,621 |
|
|
$ |
2,545,673 |
|
Measurement period adjustments |
|
|
— |
|
|
|
(12,056 |
) |
|
|
(12,056 |
) |
Foreign currency adjustments |
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|
— |
|
|
|
(62 |
) |
|
|
(62 |
) |
Goodwill at March 31, 2026* |
|
$ |
841,052 |
|
|
$ |
1,692,503 |
|
|
$ |
2,533,555 |
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* For the periods presented, the carrying amount of goodwill is presented net of accumulated impairment losses of $40.9 million, which were incurred in fiscal year 2022. Intangible assets are as follows (in thousands):
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March 31, 2026 |
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December 31, 2025 |
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Gross |
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Accumulated Amortization |
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Net Carrying Value |
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Gross |
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Accumulated Amortization |
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Net Carrying Value |
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Life (Years) |
Customer relationships |
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$ |
501,510 |
|
|
$ |
368,679 |
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|
$ |
132,831 |
|
|
$ |
502,160 |
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$ |
356,146 |
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|
$ |
146,014 |
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|
5-20 |
Trade names |
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|
318,768 |
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|
|
160,123 |
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|
|
158,645 |
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|
|
318,768 |
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|
|
154,601 |
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|
|
164,167 |
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|
2-20 |
Licenses |
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|
67,395 |
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|
|
19,973 |
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|
47,422 |
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|
|
67,395 |
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|
|
18,886 |
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|
|
48,509 |
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|
10-20 |
Doctor/payor network |
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|
4,260 |
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|
3,768 |
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|
492 |
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|
|
5,650 |
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|
|
4,987 |
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|
663 |
|
|
5-8 |
Covenants not to compete |
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6,604 |
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|
4,984 |
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|
1,620 |
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|
6,654 |
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|
|
4,717 |
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|
|
1,937 |
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2-7 |
Other intangible assets |
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|
10,940 |
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|
|
8,316 |
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|
|
2,624 |
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|
|
10,940 |
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|
|
7,925 |
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|
|
3,015 |
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|
5-7 |
Total definite-lived assets |
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$ |
909,477 |
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|
$ |
565,843 |
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|
$ |
343,634 |
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|
$ |
911,567 |
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$ |
547,262 |
|
|
$ |
364,305 |
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|
Licenses |
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|
193,250 |
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|
|
— |
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|
|
193,250 |
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|
|
193,250 |
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|
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— |
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|
|
193,250 |
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Indefinite |
Total intangible assets |
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$ |
1,102,727 |
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|
$ |
565,843 |
|
|
$ |
536,884 |
|
|
$ |
1,104,817 |
|
|
$ |
547,262 |
|
|
$ |
557,555 |
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Amortization expense for the three months ended March 31, 2026 and 2025 was $20.7 million and $23.4 million, respectively.
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