6. Intangible Assets

In connection with the current year acquisitions, we recorded customer relationship intangible assets of $9.6 million, with a useful life of 2.0 years. The fair value of the acquired customer relationship intangible assets was primarily estimated by applying the multi-period excess earnings method, which involved the use of significant estimates and assumptions primarily related to forecasted revenue growth rates, gross margin, contributory asset charges, customer attrition rates, and market-participant discount rates. These measures are based on significant Level 3 inputs not observable in the market. Key assumptions developed based on the Company’s historical experience, future projections and comparable market data include future cash flows, long-term growth rates, attrition rates and discount rates.

During the three and six months ended June 30, 2026, we recorded amortization expense in relation to the above-listed intangible assets of $72.1 million and $144.9 million, respectively. During the three and six months ended June 30, 2025, we recorded amortization expense in relation to the above-listed intangible assets of $73.9 million and $147.2 million, respectively.

During the second quarter of 2026, as part of the Company’s reorganization disclosed in Note 1, we derecognized certain intangible assets, including customer relationships, developed technology, trade names, and non-compete agreements as they were fully amortized, resulting in a decrease in the gross carrying amount of the intangible assets and the related accumulated amortization. The derecognition had no impact on net income (loss), stockholders’ equity, or cash flows.