Intangible Assets |
Note 7: Intangible Assets
Intangible assets, net consisted of the following as of:
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September 30, 2024 |
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December 31, 2023 |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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Gross Carrying Amount |
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Accumulated Amortization |
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Net Carrying Amount |
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(in thousands) |
Indefinite lived intangible assets: |
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Medical licenses |
$ |
700 |
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$ |
— |
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$ |
700 |
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$ |
700 |
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$ |
— |
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$ |
700 |
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Definite lived intangible assets: |
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Customer relationships |
671,818 |
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(190,349) |
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481,469 |
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684,000 |
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(142,500) |
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541,500 |
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Trademarks |
148,635 |
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(42,748) |
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105,887 |
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148,635 |
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(31,671) |
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116,964 |
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Payor contracts |
4,700 |
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(1,293) |
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3,407 |
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4,700 |
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(940) |
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3,760 |
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Provider network |
4,734 |
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(1,332) |
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3,402 |
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4,800 |
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(991) |
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3,809 |
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Total |
$ |
830,587 |
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$ |
(235,722) |
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$ |
594,865 |
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$ |
842,835 |
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$ |
(176,102) |
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$ |
666,733 |
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Amortization of intangible assets was $21.0 million and $21.1 million during the three months ended September 30, 2024 and 2023, respectively, and $63.1 million and $63.2 million during the nine months ended September 30, 2024 and 2023, respectively
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