Intangible Assets, Net

9 Months Ended

Sep. 30, 2026

8.INTANGIBLE ASSETS, NET

The following table provides the gross and net carrying amounts for each major class of intangible assets:



	As of September 30, 2026						As of December 31, 2025
	Gross carrying		Accumulated		Net book		Gross carrying		Accumulated		Net book
	amount		amortization		value		amount		amortization		value

	(in thousands)
Current contract intangibles	$	5,691,300	$	(3,504,101)	$	2,187,199	$	5,695,073	$	(3,438,168)	$	2,256,905
Network location intangibles		1,995,027		(1,387,512)		607,515		1,992,271		(1,367,059)		625,212
Intangible assets, net	$	7,686,327	$	(4,891,613)	$	2,794,714	$	7,687,344	$	(4,805,227)	$	2,882,117

All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $33.6 million and $29.6 million for the three months ended September 30, 2026 and 2025, respectively, and $101.7 million and $83.5 million for the nine months ended September 30, 2026 and 2025, respectively.