Goodwill and Identifiable Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Identifiable Intangible Assets, Net

Schedule of changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill are as follows (in thousands):

	Mechanical Services		Electrical Services
	Segment		Segment		Total
Balance at December 31, 2019	$	234,660	$	97,787	$	332,447
Acquisitions and purchase price adjustments (See Note 5)		72,788		59,157		131,945
Balance at December 31, 2020		307,448		156,944		464,392
Acquisitions and purchase price adjustments (See Note 5)		52,771		74,951		127,722
Impact of segment reorganization		1,101		(1,101)		—
Balance at December 31, 2021	$	361,320	$	230,794	$	592,114

Schedule of components of identifiable intangible assets

Identifiable intangible assets consist of the following (dollars in thousands):

	Weighted-Average	December 31, 2021				December 31, 2020
	Remaining Useful Lives	Gross Book		Accumulated		Gross Book		Accumulated
	in Years	Value		Amortization		Value		Amortization
Customer Relationships	7.6	$	330,572	$	(130,098)	$	255,692	$	(103,919)
Backlog	1.1		32,300		(20,091)		19,800		(12,600)
Trade Names	19.6		114,795		(22,697)		91,495		(18,661)
Total		$	477,667	$	(172,886)	$	366,987	$	(135,180)

Schedule of future amortization expense of identifiable intangible assets

As of December 31, 2021, future amortization expense of identifiable intangible assets was as follows (in thousands):

Year ending December 31—
2022	$	46,505
2023		34,532
2024		32,343
2025		30,156
2026		29,312
Thereafter		131,933
Total	$	304,781