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Goodwill and Related Intangible Assets
 12 Months Ended
Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Related Intangible Assets GOODWILL AND RELATED INTANGIBLE ASSETS
Goodwill
The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):
Renewable Energy & ConservationResidential ProductsInfrastructure ProductsTotal
Balance at December 31, 2018$71,827 $198,075 $31,678 $301,580 
Acquired goodwill5,857 — — 5,857 
Adjustments to prior year acquisitions(172)— — (172)
Foreign currency translation90 — — 90 
Balance at December 31, 2019$77,602 $198,075 31,678 $307,355 
Acquired goodwill197,866 7,377 — 205,243 
Adjustments to prior year acquisitions578 — — 578 
Foreign currency translation1,103 — — 1,103 
Balance at December 31, 2020$277,149 $205,452 31,678 $514,279 
Goodwill is recognized net of accumulated impairment losses of $133.2 million as of December 31, 2020 and 2019, respectively. No goodwill impairment charges were recognized by the Company during 2020 or 2019.
Annual Impairment Testing
The Company performed its annual goodwill impairment test as of October 31, 2020, 2019, and 2018.
During the October 31, 2020 impairment test, the Company conducted a quantitative analysis for all ten of the Company’s reporting units. The quantitative impairment test consists of comparing the fair value of a reporting unit with its carrying value including goodwill. The fair value of each reporting unit evaluated under the quantitative test was determined using two valuation techniques: an income approach and a market approach. Each valuation approach relies on significant assumptions including a weighted average cost of capital ("WACC") based upon the capital structure of market participants in the Company’s peer groups, projected revenue growth, forecasted cash flows, and earnings multiples based on the market value of the Company and market participants within its peer groups.
As a result of our annual testing for 2020, 2019 and 2018, none of the reporting units with goodwill as of our testing date had carrying values in excess of their fair values.
Interim Impairment Testing
The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of October 31 and at interim dates when indicators of impairment are present. The Company considered the current and future macroeconomic and market conditions, along with its current market capitalization, projected cash flows and internal and external forecasts, and projections relating to the impact of the COVID-19 pandemic on each of its reporting units during the interim periods. The Company determined that no triggering events had occurred which would require an interim impairment test to be performed. In 2020, 2019 and 2018, no indicators of impairment were identified as of interim dates; therefore, no interim tests were performed.

Acquired Intangible Assets
Acquired intangible assets consist of the following (in thousands):
 December 31, 2020December 31, 2019
 Gross
Carrying
Amount		Accumulated
Amortization		Gross
Carrying
Amount		Accumulated
Amortization
Indefinite-lived intangible assets:
Trademarks$56,570 $— $32,570 $— 
Finite-lived intangible assets:
Trademarks5,818 3,385 4,340 2,680 
Unpatented technology38,752 17,765 28,177 15,196 
Customer relationships98,500 31,580 55,401 26,028 
Non-compete agreements4,885 1,747 1,649 1,499 
Backlog7,228 911 — — 
155,183 55,388 89,567 45,403 
Total acquired intangible assets$211,753 $55,388 $122,137 $45,403 
The Company did not recognize impairment charges related to indefinite-lived trademark intangible assets for the years ended December 31, 2020 and 2019. During the year ended December 31, 2018, the Company recognized impairment charges of $1.2 million related to indefinite-lived trademark intangible assets. The Company also recognized impairment charges of $0.3 million related to finite-lived intangible assets for the year ended December 31, 2018.
The Company recognized amortization expense related to the definite-lived intangible assets. The following table summarizes amortization expense for the years ended December 31 (in thousands):
202020192018
Amortization expense$9,663 $6,891 $7,190 
Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):
20212022202320242025
Amortization expense$18,362 $11,584 $10,721 $10,611 $10,382