v3.26.1
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Other Intangible Assets

7. Goodwill and Other Intangible Assets

Our intangible assets are comprised of both indefinite-lived and finite-lived intangible assets and goodwill. Intangible assets with indefinite lives are not amortized but are reviewed for impairment at least annually or whenever events or circumstances indicate the carrying value of the asset may not be recoverable. We perform our annual impairment test of our indefinite-lived intangible assets during the fourth quarter of each fiscal year, and the results from the test performed in the fourth quarter of 2025 indicated no impairment. We also reevaluate the useful life of indefinite-lived intangible assets each reporting period to determine whether events and circumstances continue to support an indefinite useful life.

The carrying value of goodwill was $193.2 million as of both June 30, 2026 and December 31, 2025.

Our intangible assets, other than goodwill, as of June 30, 2026 and December 31, 2025 were as follows (in thousands):

 

 

June 30, 2026

 

 

December 31, 2025

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

Finite-lived intangible assets(1):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Software

 

$

138,365

 

 

$

(60,129

)

 

$

78,236

 

 

$

141,942

 

 

$

(55,524

)

 

$

86,418

 

Service customer relationships

 

 

152,681

 

 

 

(53,875

)

 

 

98,806

 

 

 

152,681

 

 

 

(39,410

)

 

 

113,271

 

OEM and dealer relationships

 

 

17,024

 

 

 

(8,763

)

 

 

8,261

 

 

 

17,024

 

 

 

(8,119

)

 

 

8,905

 

Other

 

 

10,729

 

 

 

(2,335

)

 

 

8,394

 

 

 

10,373

 

 

 

(1,468

)

 

 

8,905

 

Total amortized intangible assets

 

 

318,799

 

 

 

(125,102

)

 

 

193,697

 

 

 

322,020

 

 

 

(104,521

)

 

 

217,499

 

Indefinite-lived intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FCC License

 

 

31,319

 

 

 

 

 

 

31,319

 

 

 

31,319

 

 

 

 

 

 

31,319

 

Total intangible assets

 

$

350,118

 

 

$

(125,102

)

 

$

225,016

 

 

$

353,339

 

 

$

(104,521

)

 

$

248,818

 

(1) See Note 4, “Government Assistance,” for additional information.

Amortization expense was $10.5 million and $20.6 million, respectively, for the three- and six-month periods ended June 30, 2026, respectively, and $10.0 million and $19.8 million for the prior-year periods.

Amortization expense for the remainder of 2026, each of the next four years and thereafter is estimated to be as follows (in thousands):

 

 

Amortization

 

Years ending December 31,

 

Expense

 

2026 (period from July 1 to December 31)

 

$

21,182

 

2027

 

$

42,885

 

2028

 

$

42,934

 

2029

 

$

40,394

 

2030

 

$

13,201

 

Thereafter

 

$

33,101

 

Actual future amortization expense could differ from the estimated amount as a result of future investments and other factors.