| Goodwill and intangible assets |
Goodwill and intangible assets Changes in the carrying amount of goodwill by reportable segment were as follows: | | | | | | | | | | | | | | | | | | | | | | | | (in thousands) | Franchise | | Corporate-owned Clubs | | Equipment | | Amount | Goodwill at December 31, 2025 | $ | 16,938 | | | $ | 602,846 | | | $ | 92,666 | | | $ | 712,450 | | Acquisitions | — | | | — | | | — | | | — | | | Sale of corporate-owned clubs | — | | | — | | | — | | | — | | Foreign currency translation | — | | | (119) | | | — | | | (119) | | Goodwill at June 30, 2026 | $ | 16,938 | | | $ | 602,727 | | | $ | 92,666 | | | $ | 712,331 | |
A summary of intangible assets is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | (in thousands) | Gross
carrying
amount | | Accumulated
amortization | | Net carrying
Amount | | Gross
carrying
amount | | Accumulated
amortization | | Net carrying
Amount | | Finite-lived intangible assets: | | | | | | | | | | | | | Customer relationships | $ | 199,043 | | | $ | (187,651) | | | $ | 11,392 | | | $ | 199,043 | | | $ | (186,199) | | | $ | 12,844 | | | Reacquired franchise rights | 274,708 | | | (162,134) | | | 112,574 | | | 274,708 | | | (147,547) | | | 127,161 | | | Total finite-lived intangible assets | 473,751 | | | (349,785) | | | 123,966 | | | 473,751 | | | (333,746) | | | 140,005 | | | Indefinite-lived intangible assets: | | | | | | | | | | | | | Trade and brand names | 146,404 | | | — | | | 146,404 | | | 146,404 | | | — | | | 146,404 | | | Total intangible assets | $ | 620,155 | | | $ | (349,785) | | | $ | 270,370 | | | $ | 620,155 | | | $ | (333,746) | | | $ | 286,409 | |
The Company determined that no impairment charges were required during any periods presented. Amortization expense related to the finite-lived intangible assets totaled $8.0 million and $9.2 million during the three months ended June 30, 2026 and 2025, respectively, and $16.1 million and $18.4 million during the six months ended June 30, 2026 and 2025, respectively. The anticipated amortization expense related to intangible assets to be recognized in future periods as of June 30, 2026 is as follows: | | | | | | (in thousands) | Amount | | Remainder of 2026 | $ | 16,040 | | | 2027 | 27,956 | | | 2028 | 27,300 | | | 2029 | 23,675 | | | 2030 | 17,920 | | | Thereafter | 11,075 | | | Total | $ | 123,966 | |
|