Goodwill and Identifiable Intangible Assets, Net

9 Months Ended

Sep. 30, 2024

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 Segment		Electrical Segment		Total
Balance at December 31, 2022	$	363,929	$	247,860	$	611,789
Acquisitions and purchase price adjustments (See Note 5)		29,347		25,698		55,045
Balance at December 31, 2023		393,276		273,558		666,834
Acquisitions and purchase price adjustments (See Note 5)		208,159		200		208,359
Balance at September 30, 2024	$	601,435	$	273,758	$	875,193

Identifiable Intangible Assets, Net

At September 30, 2024, future amortization expense of identifiable intangible assets is as follows (in thousands):

Year ending December 31—
2024 (remainder of the year)	$	22,042
2025		66,576
2026		55,961
2027		53,650
2028		52,103
Thereafter		206,127
Total	$	456,459