Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes to Company's Goodwill

The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2024:

(in thousands)	Vegetation Management			Industrial Equipment			Consolidated
Balance at December 31, 2023		$	128,899		$	77,637		$	206,536
Translation adjustment		110			(70)			40
Goodwill adjustment		—			(118)			(118)
Balance at September 30, 2024		$	129,009		$	77,449		$	206,458

Schedule of Definite-Lived Intangible Assets

The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:

(in thousands)	Estimated Useful Lives	September 30, 2024		December 31, 2023
Definite:
Trade names and trademarks	15-25 years	$	72,901		$	72,834
Customer and dealer relationships	8-15 years	137,928			137,744
Patents and drawings	3-12 years	28,582			28,558
Favorable leasehold interests	7 years	4,200			4,200
Noncompetition agreements	5 years	200			200
Total at cost		243,811			243,536
Less accumulated amortization		(92,912)			(80,740)
Total net		150,899			162,796
Indefinite:
Trade names and trademarks		5,500			5,500
Total Intangible Assets		$	156,399		$	168,296

Schedule of Indefinite-Lived Intangible Assets

The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:

(in thousands)	Estimated Useful Lives	September 30, 2024		December 31, 2023
Definite:
Trade names and trademarks	15-25 years	$	72,901		$	72,834
Customer and dealer relationships	8-15 years	137,928			137,744
Patents and drawings	3-12 years	28,582			28,558
Favorable leasehold interests	7 years	4,200			4,200
Noncompetition agreements	5 years	200			200
Total at cost		243,811			243,536
Less accumulated amortization		(92,912)			(80,740)
Total net		150,899			162,796
Indefinite:
Trade names and trademarks		5,500			5,500
Total Intangible Assets		$	156,399		$	168,296