Intangible Assets, Net

3 Months Ended

Mar. 31, 2026

8.INTANGIBLE ASSETS, NET

The following table provides the gross and net carrying amounts for each major class of intangible assets:



	As of March 31, 2026						As of December 31, 2025
	Gross carrying		Accumulated		Net book		Gross carrying		Accumulated		Net book
	amount		amortization		value		amount		amortization		value

	(in thousands)
Current contract intangibles	$	5,734,340	$	(3,477,694)	$	2,256,646	$	5,695,073	$	(3,438,168)	$	2,256,905
Network location intangibles		2,000,776		(1,377,382)		623,394		1,992,271		(1,367,059)		625,212
Intangible assets, net	$	7,735,116	$	(4,855,076)	$	2,880,040	$	7,687,344	$	(4,805,227)	$	2,882,117

All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $33.5 million and $26.8 million for the three months ended March 31, 2026 and 2025, respectively.