The following table summarizes the gross carrying amount and accumulated amortization for each major category of intangible assets as of September 30, 2026 and December 31, 2025:





	September 30, 2026
($ in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired backlog	$	91,244	$	(86,295)	$	4,949
Customer relationships	43,000		(3,942)		39,058
Trade names	15,800		(2,695)		13,105
Developed technology	10,500		(1,925)		8,575
Total	$	160,544	$	(94,857)	$	65,687





	December 31, 2025
($ in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Acquired backlog	$	91,177	$	(43,017)	$	48,160
Customer relationships	43,000		(717)		42,283
Trade names	15,800		(490)		15,310
Developed technology	10,500		(350)		10,150
Total	$	160,477	$	(44,574)	$	115,903

Amortization expense related to intangible assets for the nine months ended September 30, 2026 and 2025, was $50.3 million and $17.0 million, respectively. Expected future amortization expense as of September 30, 2026 is as follows:





($ in thousands)	Total
2026	$	7,503
2027	9,560
2028	9,560
2029	9,560
2030	8,720
Thereafter	20,784
Total	$	65,687