Annual report [Section 13 and 15(d), not S-K Item 405]

Goodwill and Other Intangible Assets (Tables)

v3.25.4
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Goodwill Activity The following table provides a summary of goodwill activity:
Year Ended December 31,
2025
2024
Balance at beginning of period
$2,646,676
$1,646,482
Acquisitions1
537,647
999,763
Measurement period adjustments
13,316
4,744
Impact of exchange rate changes
27,382
(4,313)
Balance at end of period
$3,225,021
$2,646,676
1 For the year ended December 31, 2025, the activity includes goodwill recognized from immaterial acquisitions not
disclosed in Note 4, Mergers and Acquisitions.
Summary of Changes In Net Carrying Amount of Finite-lived Intangible Assets The net carrying amounts of finite-lived intangible assets are shown in the table below:
As of December 31, 2025
As of December 31, 2024
Cost
Accumulated
Amortization
Net Carrying
Amount
Cost
Accumulated
Amortization
Net Carrying
Amount
Customer
relationships
$2,460,456
$(963,571)
$1,496,885
$2,102,404
$(710,356)
$1,392,048
Internally
developed
software
157,503
(45,055)
112,448
103,388
(27,051)
76,337
Other1
37,977
(30,804)
7,173
32,538
(25,201)
7,337
Total
$2,655,936
$(1,039,430)
$1,616,506
$2,238,330
$(762,608)
$1,475,722
1 Other consists of trade names and assembled workforces.
Estimated Future Amortization For Finite-Lived Intangible Assets The estimated future amortization for finite-
lived intangible assets as of December 31, 2025, was as follows:
Customer
Relationships
Internally
Developed Software
Other
2026
$234,372
$21,624
$3,480
2027
203,398
26,804
2,255
2028
180,609
24,950
723
2029
159,891
18,392
477
2030
141,603
13,194
238
Thereafter
577,012
7,484
—
Total
$1,496,885
$112,448
$7,173