Goodwill and intangible assets are primarily the result of business acquisitions.

The Company performs its annual impairment assessment of goodwill and indefinite life intangible assets as of November 30 of each year.

No impairments to goodwill or indefinite life intangible assets were recorded during the three and nine months ended September 30, 2026.

The accumulated impairment loss is due to impairment charges of $77.4 million and $25.8 million recognized during the years ended December 31, 2023 and December 31, 2019, respectively.

There were no changes in the carrying amount of goodwill during the three and nine months ended September 30, 2026.

Intangible Assets—No intangible asset impairments were recorded during the three and nine months ended September 30, 2026.

The intangible assets balance as of September 30, 2026 is reflected below (in thousands):


		Weighted-
		Average
	Estimated	Remaining	Gross		Net
	Useful Life	Useful Life	Carrying	Accumulated	Carrying
	(Years)	(Years)	Amount	Amortization	Amount

Intangible assets:
Customer relationships	16-18	8.8	$1,324,130	$(679,949)	$644,181
Acquired technologies	7-8	6.2	139,100	(32,578)	106,522
Trademarks	5	3.3	1,300	(455)	845
Subtotal			1,464,530	(712,982)	751,548
Trademarks—indefinite life			190,470	—	190,470
Total intangible assets			$1,655,000	$(712,982)	$942,018

The intangible assets balance as of December 31, 2025 is reflected below (in thousands):


		Weighted-
		Average
	Estimated	Remaining	Gross					Net
	Useful Life	Useful Life	Carrying		Accumulated			Carrying
	(Years)	(Years)	Amount		Amortization			Amount

Intangible assets:
Customer relationships	16-18	9.6	$	1,324,130	$	(624,609	)	$	699,521
Acquired technologies	7-8	6.9		139,100		(19,473	)		119,627
Trademarks	5	4		1,300		(260	)		1,040
Subtotal				1,464,530		(644,342	)		820,188
Trademarks—indefinite life				190,470		—			190,470
Total intangible assets			$	1,655,000	$	(644,342	)	$	1,010,658

Amortization expense for intangible assets was $22.9 million and $22.9 million for the three months ended September 30, 2026 and 2025, respectively. Amortization expense for intangible assets was $68.6 million and $68.6 million for the nine months ended September 30, 2026 and 2025, respectively.