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Intangible Assets (Tables)
12 Months Ended
Dec. 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 acquired identifiable intangible assets included in “Intangible assets, net” on the consolidated balance sheets were as follows (in thousands except for years):

 

 

 

December 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

 

$

142,100

 

 

$

(51,322

)

 

$

90,778

 

 

$

130,000

 

 

$

(45,964

)

 

$

84,036

 

 

 

4.5

 

Customer relationships

 

 

372,930

 

 

 

(139,568

)

 

 

233,362

 

 

 

297,120

 

 

 

(124,194

)

 

 

172,926

 

 

 

11.6

 

Leases

 

 

-

 

 

 

-

 

 

 

-

 

 

 

120

 

 

 

(106

)

 

 

14

 

 

 

-

 

Developed technology

 

 

23,200

 

 

 

(7,458

)

 

 

15,742

 

 

 

31,600

 

 

 

(15,823

)

 

 

15,777

 

 

 

4.6

 

Trade name

 

 

1,500

 

 

 

(367

)

 

 

1,133

 

 

 

1,000

 

 

 

(417

)

 

 

583

 

 

 

1.0

 

Non-compete agreements

 

 

8,300

 

 

 

(1,203

)

 

 

7,097

 

 

 

1,500

 

 

 

(1,097

)

 

 

403

 

 

 

3.0

 

In process research and development

 

 

1,800

 

 

 

-

 

 

 

1,800

 

 

 

1,800

 

 

 

-

 

 

 

1,800

 

 

n/a

 

Other intangibles

 

 

25

 

 

 

-

 

 

 

25

 

 

 

375

 

 

 

(348

)

 

 

27

 

 

n/a

 

Total intangible assets

 

$

549,855

 

 

$

(199,918

)

 

$

349,937

 

 

$

463,515

 

 

$

(187,949

)

 

$

275,566

 

 

 

 

Schedule of Estimated Amortization Expense

Estimated amortization expense in each of the next five years and beyond is as follows (in thousands):

 

 

 

December 31, 2024

 

2025

 

$

64,871

 

2026

 

 

57,313

 

2027

 

 

50,759

 

2028

 

 

36,871

 

2029

 

 

22,659

 

Thereafter

 

 

115,639

 

Total

 

$

348,112