| Intangible assets and goodwill |
Intangible assets and goodwill Intangible assets The gross carrying amount and associated accumulated amortization of intangible assets were as follows: | | | | | | | | | | | | | | | | | | | July 31, 2026 | | (in thousands) | Gross carrying amount | | Accumulated amortization | | Net carrying amount | | Amortizable intangible assets: | | | | | | | Software and software development costs | $ | 382,991 | | | $ | (301,258) | | | $ | 81,733 | | | Acquired HSA portfolios | 737,304 | | | (197,913) | | | 539,391 | | | Acquired customer relationships | 759,782 | | | (334,359) | | | 425,423 | | | Acquired developed technology | 132,825 | | | (131,575) | | | 1,250 | | | Acquired trade names | 12,900 | | | (12,900) | | | — | | | Total amortizable intangible assets | $ | 2,025,802 | | | $ | (978,005) | | | $ | 1,047,797 | |
| | | | | | | | | | | | | | | | | | | January 31, 2026 | | (in thousands) | Gross carrying amount | | Accumulated amortization | | Net carrying amount | | Amortizable intangible assets: | | | | | | | Software and software development costs | $ | 356,597 | | | $ | (278,291) | | | $ | 78,306 | | | Acquired HSA portfolios | 737,304 | | | (173,687) | | | 563,617 | | | Acquired customer relationships | 759,782 | | | (308,512) | | | 451,270 | | | Acquired developed technology | 132,825 | | | (128,846) | | | 3,979 | | | Acquired trade names | 12,900 | | | (12,900) | | | — | | | Total amortizable intangible assets | $ | 1,999,408 | | | $ | (902,236) | | | $ | 1,097,172 | |
Amortization expense was $41.5 million and $38.0 million for the three months ended July 31, 2026 and 2025, respectively, and $79.2 million and $76.1 million for the six months ended July 31, 2026 and 2025, respectively. Goodwill There were no changes to the carrying value of goodwill during the six months ended July 31, 2026.
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