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