| Intangibles |
9. Intangibles Intangible assets consisted of the following (in thousands):
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Successor - AIAI
June 30, 2026 |
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Predecessor - CCCI
December 31, 2025 |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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Weighted Average Useful Life (years) |
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|
Gross Carrying Amount |
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Accumulated Amortization |
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|
Net Carrying Amount |
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Customer relationships |
$ |
|
84,711 |
|
$ |
|
(599 |
) |
$ |
|
84,112 |
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|
23 |
|
$ |
|
- |
|
$ |
|
- |
|
$ |
|
- |
|
Customer backlog |
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|
2,135 |
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|
(320 |
) |
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|
1,815 |
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|
1 |
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|
|
- |
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|
- |
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|
|
- |
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Trademarks and domain names |
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22,620 |
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(503 |
) |
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22,117 |
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7 |
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- |
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- |
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|
- |
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Partner relationships |
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17,671 |
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(204 |
) |
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17,467 |
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13 |
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- |
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- |
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- |
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Software |
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17,927 |
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(408 |
) |
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17,519 |
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7 |
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- |
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- |
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- |
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AI technology license |
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|
480,999 |
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(14,480 |
) |
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|
466,519 |
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5 |
|
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Acquired technology |
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|
35,753 |
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(1,073 |
) |
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34,680 |
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5 |
|
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- |
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|
- |
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|
- |
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Total |
$ |
|
661,816 |
|
$ |
|
(17,587 |
) |
$ |
|
644,229 |
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|
8 |
|
$ |
|
- |
|
$ |
|
- |
|
$ |
|
- |
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Amortization expense related to the existing finite-lived intangible assets is expected to be as follows (in thousands):
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Fiscal Year |
|
Amortization Expense |
|
2026 (Remaining 6 months) |
$ |
|
58,452 |
|
2027 |
|
|
115,516 |
|
2028 |
|
|
114,769 |
|
2029 |
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|
114,619 |
|
2030 |
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|
114,538 |
|
Thereafter |
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|
126,335 |
|
Total |
$ |
|
644,229 |
|
Amortization expense related to intangible assets totaled $17.6 million for the Successor period from May 7, 2026 through June 30, 2026, $0 for the Predecessor period from January 1, 2026 through May 6, 2026 and $0 for the Predecessor period from April 1, 2026 through May 6, 2026. For the Predecessor periods in the three- and six-months ended June 30, 2025, amortization expense totaled $0 and $0 , respectively. Changes in goodwill are as follows (in thousands):
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Amount |
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Goodwill, December 31, 2025 (Predecessor - CCCI) |
$ |
|
- |
|
Goodwill recognized in Business Combinations |
|
|
303,803 |
|
Goodwill transferred in Bond Street Acquisition |
|
|
1,403 |
|
Goodwill, June 30, 2026 (Successor - AIAI) |
$ |
|
305,206 |
|
|