Intangible Assets, Net

6 Months Ended

Jun. 30, 2026

8.INTANGIBLE ASSETS, NET

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



	As of June 30, 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	$	5,758,507	$	(3,510,163)	$	2,248,344	$	5,695,073	$	(3,438,168)	$	2,256,905
Network location intangibles		2,006,231		(1,386,795)		619,436		1,992,271		(1,367,059)		625,212
Intangible assets, net	$	7,764,738	$	(4,896,958)	$	2,867,780	$	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 $34.6 million and $27.1 million for the three months ended June 30, 2026 and 2025, respectively, and $68.1 million and $53.9 million for the six months ended June 30, 2026 and 2025, respectively.