XML 50 R35.htm IDEA: XBRL DOCUMENT v3.25.0.1
Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

A summary of intangible assets as of December 31, 2024 and 2023 is as follows.

 

 

December 31, 2024

 

(in thousands)

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Customer relationships

 

$

145,966

 

 

$

(46,693

)

 

$

99,273

 

Non-compete agreements

 

 

500

 

 

 

(393

)

 

 

107

 

Trade names

 

 

18,280

 

 

 

(9,297

)

 

 

8,983

 

Technology, patents and other

 

 

26,133

 

 

 

(26,133

)

 

 

 

Total

 

$

190,879

 

 

$

(82,516

)

 

$

108,363

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2023

 

(in thousands)

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Customer relationships

 

$

78,166

 

 

$

(38,511

)

 

$

39,655

 

Non-compete agreements

 

 

500

 

 

 

(321

)

 

 

179

 

Trade names

 

 

10,980

 

 

 

(9,006

)

 

 

1,974

 

Technology, patents and other

 

 

26,133

 

 

 

(26,133

)

 

 

 

Total

 

$

115,779

 

 

$

(73,971

)

 

$

41,808

 

Schedule of Estimated Future Amortization Expenses

See below for estimated future amortization expenses:

 

Year

 

(in thousands)

 

2025

 

$

14,423

 

2026

 

 

12,932

 

2027

 

 

11,363

 

2028

 

 

11,363

 

2029

 

 

10,292

 

Thereafter

 

 

47,990

 

Schedule of Goodwill The following table presents a roll-forward of goodwill for the years ended December 31, 2024 and 2023:

 

(in thousands)

 

Goodwill, Gross

 

 

Accumulated
Impairment

 

 

Goodwill, Net

 

Balance at December 31, 2022

 

$

94,436

 

 

$

(70,504

)

 

$

23,932

 

Additions

 

 

 

 

 

 

 

 

 

Balance at December 31, 2023

 

$

94,436

 

 

$

(70,504

)

 

$

23,932

 

Additions - DWS Acquisition

 

 

36,244

 

 

 

 

 

 

36,244

 

Balance at December 31, 2024

 

$

130,680

 

 

$

(70,504

)

 

$

60,176