Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 5: Goodwill and Intangible Assets

Goodwill and intangible assets consisted of the following:


(in $000s)	March 31, 2021		December 31, 2020
Goodwill	$	238,052	$	238,052
Nesco trade name	28,000		28,000
Other intangible assets:
Trade names	1,780		1,780
Non-compete agreements	520		520
Customer relationships	52,170		52,170
	82,470		82,470
Less: accumulated amortization	(15,644)		(14,891)
Intangible assets, net	66,826		67,579
Goodwill and intangible assets	$	304,878	$	305,631

Goodwill related to our ERS segment and PTA segment was $229.1 million and $9.0 million, respectively, as of March 31, 2021 and December 31, 2020.

We perform our annual goodwill and indefinite-lived intangible assets impairment testing as of October 1 each year. In addition to the annual impairment test, we regularly assess whether a triggering event has occurred that would require interim impairment testing. During the three months ended March 31, 2020, due to the global health pandemic and related economic uncertainty, we identified interim impairment indicators. From a qualitative assessment completed at that time, we determined that goodwill and indefinite-lived

intangible assets were not impaired. During the three months ended March 31, 2021, there were no triggering events necessitating an interim impairment test.