Goodwill and Identifiable Intangible Assets, Net

3 Months Ended

Mar. 31, 2025

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, 2023	$	393,276	$	273,558	$	666,834
Acquisitions and purchase price adjustments (See Note 5)		208,236		200		208,436
Balance at December 31, 2024		601,512		273,758		875,270
Acquisitions and purchase price adjustments (See Note 5)		30,573		—		30,573
Balance at March 31, 2025	$	632,085	$	273,758	$	905,843

Identifiable Intangible Assets, Net

At March 31, 2025, future amortization expense of identifiable intangible assets is as follows (in thousands):

Year ending December 31—
2025 (remainder of the year)	$	51,221
2026		58,766
2027		56,282
2028		54,735
2029		48,468
Thereafter		172,030
Total	$	441,502