Goodwill and Identifiable Intangible Assets, Net

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

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)		52,510		—		52,510
Balance at June 30, 2025	$	654,022	$	273,758	$	927,780

Identifiable Intangible Assets, Net

At June 30, 2025, future amortization expense of identifiable intangible assets is as follows (in thousands):

Year ending December 31—
2025 (remainder of the year)	$	36,353
2026		63,573
2027		59,706
2028		57,353
2029		51,086
Thereafter		183,375
Total	$	451,446