Goodwill and Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets

Schedule of goodwill by reporting unit

The change in goodwill by segment for 2022 and 2021 was as follows (in thousands):

	Utilities		Energy/Renewables		Pipeline		Total
Balance at December 31, 2020	$	96,344	$	66,344	$	52,415	$	215,103
Goodwill acquired during the period		366,561		—		—		366,561
Balance at December 31, 2021		462,905		66,344		52,415		581,664
Goodwill acquired during the period		253,379		17,859		18,906		290,144
Balance at December 31, 2022	$	716,284	$	84,203	$	71,321	$	871,808

Summary of intangible asset categories, amounts and the average amortization periods

The table below summarizes the intangible asset categories, which are generally amortized on a straight-line basis (in thousands):

	December 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Intangible assets, net		Gross Carrying Amount		Accumulated Amortization		Intangible assets, net
Tradenames	$	32,820		(25,611)		7,209	$	20,440	$	(19,675)	$	765
Customer relationships		301,927		(59,755)		242,172		215,227		(44,727)		170,500
Non-compete agreements		1,900		(1,900)		—		1,900		(1,845)		55
Total	$	336,647	$	(87,266)	$	249,381	$	237,567	$	(66,247)	$	171,320

Schedule of estimated future amortization expense for intangible assets

Estimated future amortization expense for intangible assets as of December 31, 2022 is as follows (in thousands):

	Estimated
	Intangible
	Amortization
For the Years Ending December 31,	Expense
2023	$	21,868
2024		19,701
2025		17,661
2026		16,141
2027		15,604
Thereafter		158,406
	$	249,381