v3.26.1
Intangible assets, net and Goodwill (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of intangible assets subject to amortization
The Company's intangible assets are segregated into asset classes with the following estimated useful lives:
Asset class
Estimated useful lives(1)
Non-compete agreements
1-15 years
Trade names
1-20 years
Intellectual property and know-how
5-15 years
Licenses and service agreements
5-30 years
Customer relationships3 years
Internal-use software
3-7 years
(1) The Company holds no intangible assets with indefinite useful lives.
Identifiable intangible assets consisted of the following as of June 30, 2026 and December 31, 2025:
As of June 30, 2026Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Licenses and service agreements$1,311,933 $(463,952)$847,981 
Trade names162,425 (70,204)92,221 
Non-compete agreements25,145 (15,687)9,458 
Intellectual property and know-how9,365 (4,682)4,683 
Internal-use software2,319 (628)1,691 
Customer relationships68 (28)40 
Intangible assets, net(1)
$1,511,255 $(555,181)$956,074 
(1) Intangible assets held by the Company’s international subsidiaries are subject to foreign currency translation adjustments.
As of December 31, 2025Gross Carrying AmountAccumulated AmortizationNet Carrying Amount
Licenses and service agreements$1,318,987 $(422,887)$896,100 
Trade names162,903 (65,877)97,026 
Non-compete agreements25,244 (14,591)10,653 
Intellectual property and know-how9,577 (3,790)5,787 
Internal-use software1,716 (220)1,496 
Customer relationships71 (18)53 
Intangible assets, net(1)
$1,518,498 $(507,383)$1,011,115 
(1) Intangible assets held by the Company’s international subsidiaries are subject to foreign currency translation adjustments.
The remaining weighted average amortization period for each major class as of June 30, 2026 was as follows:
Asset class:Weighted Average Amortization (in years)
Licenses and service agreements11.57
Trade names11.09
Non-compete agreements4.87
Internal-use software3.81
Intellectual property and know-how2.50
Customer relationships1.75
Schedule of estimated annual amortization expense
As of June 30, 2026, the Company's estimated intangible amortization expense over the next five fiscal years is as follows:
Fiscal YearEstimated Amortization
2026 (full 12 months)$100,568 
202799,289 
202895,645 
202989,506 
203086,450 
Schedule of changes in the carrying amount of goodwill by segment
The changes in the Company's goodwill as of June 30, 2026 and December 31, 2025 were as follows:
DomesticInternationalTotal
Balance at December 31, 2024$551,181 $77,703 $628,884 
Acquisitions (1)
— 1,328 1,328 
Measurement period adjustment— (3,984)(3,984)
Effect of exchange rate differences— 8,889 8,889 
Balance at December 31, 2025
551,181 83,936 635,117 
Effect of exchange rate differences— (2,095)(2,095)
Balance at June 30, 2026
$551,181 $81,841 $633,022 
(1) Incurred in connection with an individually immaterial acquisition consummated during the second quarter of 2025 within the Company's international operations.