GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

The changes in the carrying amount of goodwill were as follows:


	Full service center-based child care		Back-up care		Educational advisory services		Total

	(In thousands)
Balance at January 1, 2025	$	1,515,919	$	209,088	$	37,676	$	1,762,683
Additions from acquisitions	3,752		—		—		3,752
Adjustments to prior year acquisitions	531		—		—		531
Effect of foreign currency translation	50,519		1,753		—		52,272
Balance at September 30, 2025	$	1,570,721	$	210,841	$	37,676	$	1,819,238

The Company also has intangible assets, which consisted of the following as of September 30, 2025 and December 31, 2024:


September 30, 2025	Cost		Accumulated amortization		Net carrying amount

	(In thousands)
Definite-lived intangible assets:
Customer relationships	$	397,717	$	(389,606)	$	8,111
Trade names	16,057		(10,406)		5,651
	413,774		(400,012)		13,762
Indefinite-lived intangible assets:
Trade names	180,965		—		180,965
	$	594,739	$	(400,012)	$	194,727


December 31, 2024	Cost		Accumulated amortization		Net carrying amount

	(In thousands)
Definite-lived intangible assets:
Customer relationships	$	394,098	$	(383,127)	$	10,971
Trade names	15,226		(9,111)		6,115
	409,324		(392,238)		17,086
Indefinite-lived intangible assets:
Trade names	180,489		—		180,489
	$	589,813	$	(392,238)	$	197,575

The Company estimates that it will record amortization expense related to intangible assets existing as of September 30, 2025 as follows:


	Estimated amortization expense

	(In thousands)
Remainder of 2025	$	1,483
2026	4,332
2027	3,100
2028	1,742
2029	707
Thereafter	2,398
	$	13,762

BRIGHT HORIZONS FAMILY SOLUTIONS INC. 10-Q