Goodwill and Other Intangible Assets
The change in the net carrying amount of Goodwill from December 31, 2023 through December 31, 2025 was composed of the following items:
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| | | Mexico | | Peru | | | | | | | Total |
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| Balance at December 31, 2023 | | | $ | 588,431 | | | $ | 73,051 | | | | | | | | $ | 661,482 | |
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| Currency translation adjustments | | | (97,365) | | | (713) | | | | | | | | (98,078) | |
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| Balance at December 31, 2024 | | | $ | 491,066 | | | $ | 72,338 | | | | | | | | $ | 563,404 | |
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| Currency translation adjustments | | | 66,175 | | | 7,721 | | | | | | | | 73,896 | |
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| Balance at December 31, 2025 | | | $ | 557,241 | | | $ | 80,059 | | | | | | | | $ | 637,300 | |
Tradenames and Other Intangible Assets
The following table summarizes our identifiable intangible assets as of December 31, 2025:
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| Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Weighted Average Amortization Period (Yrs) |
| Tradenames | | | | | | | |
| Finite-lived tradename | $ | 30,652 | | | $ | (30,652) | | | $ | — | | | — | |
| Indefinite-lived tradenames | 166,195 | | | — | | | 166,195 | | | — | |
| Total tradenames | 196,847 | | | (30,652) | | | 166,195 | | | |
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| Other intangible assets | | | | | | | |
| Student rosters | 22,331 | | | (22,331) | | | — | | | — | |
| Other | 1,876 | | | (1,876) | | | — | | | — | |
| Total | $ | 221,054 | | | $ | (54,859) | | | $ | 166,195 | | | |
The following table summarizes our identifiable intangible assets as of December 31, 2024:
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| Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Weighted Average Amortization Period (Yrs) |
| Tradenames | | | | | | | |
| Finite-lived tradename | $ | 30,652 | | | $ | (30,652) | | | $ | — | | | — | |
| Indefinite-lived tradenames | 147,911 | | | — | | | 147,911 | | | — | |
| Total tradenames | 178,563 | | | (30,652) | | | 147,911 | | | |
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| Other intangible assets | | | | | | | |
| Student rosters | 19,838 | | | (19,838) | | | — | | | — | |
| Other | 1,666 | | | (1,666) | | | — | | | — | |
| Total | $ | 200,067 | | | $ | (52,156) | | | $ | 147,911 | | | |
Impairment Tests
The following table summarizes the Loss on impairment of assets:
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| For the years ended December 31, | 2025 | | 2024 | | 2023 |
| Impairments of Goodwill | $ | — | | | $ | — | | | $ | — | |
| Impairments of Tradenames | — | | | — | | | — | |
| Impairments of long-lived assets | — | | | — | | | 3,073 | |
| Total | $ | — | | | $ | — | | | $ | 3,073 | |
We perform annual impairment tests of our non-amortizable intangible assets, which consist of goodwill and indefinite-lived tradenames, in the fourth quarter of each year.
For the purposes of our annual impairment testing of the Company's goodwill, fair value measurements are determined primarily using the income approach, based largely on inputs that are not observable to active markets, which would be deemed “Level 3” fair value measurements. Level 3 inputs are defined as unobservable inputs that are supported by little or no market activity. These inputs include our expectations about future revenue growth and profitability, marginal income tax rates by jurisdiction, and the discount rate. Where a market approach is used, the inputs also include publicly available data about our competitors' financial ratios and transactions.
For purposes of our annual impairment testing of the Company’s indefinite-lived tradenames, fair value measurements are determined using the income approach, based largely on inputs that are not observable to active markets, which would be deemed “Level 3” fair value measurements as defined above. These inputs include our expectations about future revenue growth, marginal income tax rates by jurisdiction, the discount rate and the estimated royalty rate. We use publicly available information and proprietary third-party arm’s length agreements that Laureate has entered into with various licensors in determining certain assumptions to assist us in estimating fair value using market participant assumptions.