Intangible Assets and Goodwill (Tables)
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6 Months Ended |
Jun. 30, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Intangible Asset, Finite-Lived |
The following table summarizes the carrying values of intangible assets as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | Contractual performance fee allocations(a) | $ | 378,200 | | | $ | (173,936) | | | $ | 204,264 | | | $ | 378,200 | | | $ | (145,052) | | | $ | 233,148 | | Management contracts(a) | 468,700 | | | (126,496) | | | 342,204 | | | 468,700 | | | (92,216) | | | 376,484 | | | Technology | 46,000 | | | (30,667) | | | 15,333 | | | 46,000 | | | (24,917) | | | 21,083 | | | Investor relationships | 25,000 | | | (10,417) | | | 14,583 | | | 25,000 | | | (9,375) | | | 15,625 | | Trade name(a) | 17,500 | | | (7,960) | | | 9,540 | | | 17,500 | | | (6,328) | | | 11,172 | | Other intangible assets(a), (b) | 2,994 | | | (1,333) | | | 1,661 | | | 2,994 | | | (667) | | | 2,327 | | | Total intangible assets, net | $ | 938,394 | | | $ | (350,809) | | | $ | 587,585 | | | $ | 938,394 | | | $ | (278,555) | | | $ | 659,839 | |
_________________(a)Includes intangible assets with a net carrying value of $204.5 million as of June 30, 2026 related to the acquisition of Peppertree described in Note 3 to the Condensed Consolidated Financial Statements. (b)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2026 and December 31, 2025.
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| Intangible Asset, Indefinite-Lived |
The following table summarizes the carrying values of intangible assets as of June 30, 2026 and December 31, 2025 (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | | Gross Carrying Value | | Accumulated Amortization | | Net Carrying Value | Contractual performance fee allocations(a) | $ | 378,200 | | | $ | (173,936) | | | $ | 204,264 | | | $ | 378,200 | | | $ | (145,052) | | | $ | 233,148 | | Management contracts(a) | 468,700 | | | (126,496) | | | 342,204 | | | 468,700 | | | (92,216) | | | 376,484 | | | Technology | 46,000 | | | (30,667) | | | 15,333 | | | 46,000 | | | (24,917) | | | 21,083 | | | Investor relationships | 25,000 | | | (10,417) | | | 14,583 | | | 25,000 | | | (9,375) | | | 15,625 | | Trade name(a) | 17,500 | | | (7,960) | | | 9,540 | | | 17,500 | | | (6,328) | | | 11,172 | | Other intangible assets(a), (b) | 2,994 | | | (1,333) | | | 1,661 | | | 2,994 | | | (667) | | | 2,327 | | | Total intangible assets, net | $ | 938,394 | | | $ | (350,809) | | | $ | 587,585 | | | $ | 938,394 | | | $ | (278,555) | | | $ | 659,839 | |
_________________(a)Includes intangible assets with a net carrying value of $204.5 million as of June 30, 2026 related to the acquisition of Peppertree described in Note 3 to the Condensed Consolidated Financial Statements. (b)Includes indefinite-lived intangible assets of $1.0 million as of June 30, 2026 and December 31, 2025.
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| Intangible Asset, Finite-Lived, and Capitalized Cost, Software to be Sold, Leased, or Marketed, Estimated Amortization Expense |
The following table presents estimated remaining amortization expense for finite-lived intangible assets that existed as of June 30, 2026 (in thousands): | | | | | | | | | | Remainder of 2026 | | $ | 72,254 | | | 2027 | | 141,258 | | | 2028 | | 120,415 | | | 2029 | | 94,810 | | | 2030 | | 46,616 | | | Thereafter | | 111,238 | | | Total | | $ | 586,591 | |
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