Kinetik Holdings Inc.
For the period ended Jun 30, 2025. Filed Aug 8, 2025.
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Jun 30, 2025 · Filed Aug 8, 2025
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INTANGIBLE ASSETS, NET
- INTANGIBLE ASSETS, NET
Intangible assets, net, are comprised of the following:
| June 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (In thousands) | ||
| Customer contracts | $1,271,050 | $1,270,106 |
| Right of way assets | 223,971 | 196,979 |
| Less accumulated amortization | (887,269) | (814,595) |
| Total amortizable intangible assets, net | $607,752 | $652,490 |
On June 30, 2025, the remaining customer contract amortization terms range from seven months tosixteen years with weighted average amortization periods of approximately 6.72 years and the right-of-way assets remaining amortization terms range fromone month tofourteen years with weighted average amortization periods of approximately 6.61 years. The remaining weighted average amortization period for the intangible assets as of June 30, 2025 was approximately 6.69 years. The right of way agreements are typically for an initial term often years with an option to renew for an additionalten years at agreed upon renewal rates based on certain indices or up to 130% of the original consideration paid.
The Company recorded $36.7 million and $31.3 million of amortization expense for the three months ended June 30, 2025 and 2024, respectively, and $67.3 million and $62.0 million for the six months ended June 30, 2025 and 2024, respectively. There wasno impairment recognized on intangible assets for the three and six months ended June 30, 2025 and 2024.
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