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Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Gross Amount and Accumulated Amortization of Intangible Assets

The gross amount and accumulated amortization of intangible assets with finite useful lives included in “Intangible assets, net” on the consolidated balance sheets are as follows (in thousands except for years):

 

 

 

March 31, 2024

 

 

December 31, 2023

 

 

Weighted
Average

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net
Carrying
Amount

 

 

Amortization
Period
(in years)

 

Backlog

 

$

130,000

 

 

$

(53,444

)

 

$

76,556

 

 

$

130,000

 

 

$

(45,964

)

 

$

84,036

 

 

 

4.0

 

Customer relationships

 

 

297,120

 

 

 

(128,679

)

 

 

168,441

 

 

 

297,120

 

 

 

(124,194

)

 

 

172,926

 

 

 

9.5

 

Leases

 

 

120

 

 

 

(112

)

 

 

8

 

 

 

120

 

 

 

(106

)

 

 

14

 

 

 

1.0

 

Developed technology

 

 

31,600

 

 

 

(17,221

)

 

 

14,379

 

 

 

31,600

 

 

 

(15,823

)

 

 

15,777

 

 

 

4.6

 

Trade name

 

 

1,000

 

 

 

(667

)

 

 

333

 

 

 

1,000

 

 

 

(417

)

 

 

583

 

 

 

1.1

 

Non-compete agreements

 

 

1,500

 

 

 

(1,222

)

 

 

278

 

 

 

1,500

 

 

 

(1,097

)

 

 

403

 

 

 

3.3

 

In process research and development

 

 

1,800

 

 

 

-

 

 

 

1,800

 

 

 

1,800

 

 

 

-

 

 

 

1,800

 

 

n/a

 

Other intangibles

 

 

275

 

 

 

(214

)

 

 

61

 

 

 

375

 

 

 

(348

)

 

 

27

 

 

 

9.9

 

Total intangible assets

 

$

463,415

 

 

$

(201,559

)

 

$

261,856

 

 

$

463,515

 

 

$

(187,949

)

 

$

275,566

 

 

 

 

Schedule of Estimated Amortization Expense

Estimated amortization expense for the remainder of the current fiscal year and in each of the next four years and beyond is as follows (in thousands):

 

 

 

March 31, 2024

 

2024

 

$

36,096

 

2025

 

 

43,448

 

2026

 

 

37,024

 

2027

 

 

32,542

 

2028

 

 

24,329

 

Thereafter

 

 

86,617

 

Total

 

$

260,056