Goodwill and Identifiable Intangible Assets, Net

3 Months Ended

Mar. 31, 2023

Goodwill and Identifiable Intangible Assets, Net

Goodwill and Identifiable Intangible Assets, Net

6. Goodwill and Identifiable Intangible Assets, Net

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, 2021	$	361,320	$	230,794	$	592,114
Acquisitions and purchase price adjustments (See Note 5)		2,609		17,066		19,675
Balance at December 31, 2022		363,929		247,860		611,789
Acquisitions and purchase price adjustments (See Note 5)		—		25,645		25,645
Balance at March 31, 2023	$	363,929	$	273,505	$	637,434

Identifiable Intangible Assets, Net

At March 31, 2023, future amortization expense of identifiable intangible assets is as follows (in thousands):

Year ending December 31—
2023 (remainder of the year)	$	32,256
2024		37,006
2025		34,525
2026		33,681
2027		31,699
Thereafter		126,903
Total	$	296,070