Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of changes in the Company’s goodwill is as follows (in thousands):


	December 31, 2023		Acquisitions1		Acquisition Accounting Adjustments		Foreign Currency		March 31, 2024





Goodwill	$	5,644,958	$	77,846	$	1,058	$	(50,130)	$	5,673,732

1 Reflects the recognition of goodwill assigned to the Vehicle Payments segment related to the Zapay acquisition completed by the Company during the three months ended March 31, 2024.

As of March 31, 2024 and December 31, 2023, other intangibles consisted of the following (in thousands):


		March 31, 2024						December 31, 2023
	Weighted- Avg Useful Lives (Years)	Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amounts		Accumulated Amortization		Net Carrying Amount
Customer and vendor relationships	16.2	$	3,038,204	$	(1,542,504)	$	1,495,700	$	3,044,522	$	(1,511,173)	$	1,533,349
Trade names and trademarks—indefinite lived	N/A	436,204		—		436,204		440,900		—		440,900
Trade names and trademarks—other	2.0	50,684		(16,420)		34,264		51,510		(15,334)		36,176
Software	5.8	297,498		(242,477)		55,021		299,780		(238,819)		60,961
Non-compete agreements	4.2	84,256		(72,339)		11,917		85,111		(70,834)		14,277

Total other intangibles		$	3,906,846	$	(1,873,740)	$	2,033,106	$	3,921,823	$	(1,836,160)	$	2,085,663
N/A = Not Applicable

Changes in foreign exchange rates resulted in $15.4 million decrease to the net carrying values of other intangibles in the three months ended March 31, 2024. Amortization expense related to intangible assets for the three months ended March 31, 2024 and 2023 was $55.8 million and $57.7 million, respectively.