INTANGIBLE ASSETS, NET

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets, net, are comprised of the following:


	September 30,		December 31,
	2025		2024

	(In thousands)
Customer contracts	$	1,275,910	$	1,270,106
Right of way assets	233,028		196,979
Less accumulated amortization	(924,319)		(814,595)
Total amortizable intangible assets, net	$	584,619	$	652,490

As of September 30, 2025, the remaining customer contract amortization terms range from four months to sixteen years with weighted average amortization periods of approximately seven years and the right-of-way assets remaining amortization terms range from ten months to fourteen years with weighted average amortization periods of approximately seven years. The remaining weighted average amortization period for the intangible assets as of September 30, 2025 was approximately seven years. The right of way agreements are typically for an initial term of ten years with an option to renew for an additional ten years at agreed upon renewal rates based on certain indices or up to 130% of the original consideration paid.

The Company recorded $37.0 million and $38.9 million of amortization expense for the three months ended September 30, 2025 and 2024, respectively, and $104.4 million and $100.9 million for the nine months ended September 30, 2025 and 2024, respectively. There was no impairment recognized on intangible assets for the three and nine months ended September 30, 2025 and 2024.

Kinetik Holdings Inc. 10-Q