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Goodwill and Identifiable Intangible Assets, Net | 9 Months Ended
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Sep. 30, 2020
Goodwill and Identifiable Intangible Assets, Net |
Goodwill and Identifiable Intangible Assets, Net | 5. Goodwill and Identifiable Intangible Assets, Net ​ Goodwill ​ The changes in the carrying amount of goodwill are as follows (in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Mechanical Services | ​ | Electrical Services | ​ | ​
​ |  | Segment |  | Segment | ​ | Total
Balance at December 31, 2018 | ​ | $ | 235,182 | ​ | $ | — | ​ | $ | 235,182
Acquisitions and purchase price adjustments (See Note 4) | ​ |  | 579 | ​ |  | 96,686 | ​ | ​ | 97,265
Impact of segment reorganization | ​ | ​ | (1,101) | ​ | ​ | 1,101 | ​ | ​ | —
Balance at December 31, 2019 | ​ | ​ | 234,660 | ​ | ​ | 97,787 | ​ | ​ | 332,447
Acquisitions and purchase price adjustments (See Note 4) | ​ | ​ | 73,409 | ​ | ​ | 14,926 | ​ | ​ | 88,335
Balance at September 30, 2020 | ​ | $ | 308,069 | ​ | $ | 112,713 | ​ | $ | 420,782
​ During the fourth quarter of 2019, the Company performed its annual goodwill impairment test resulting in no impairment charges, as the calculated fair values for the majority of the Company’s reporting units that have goodwill were significantly in excess (all greater than 80%) of the respective reporting unit’s carrying value, while two reporting units that were recently acquired had calculated fair values in excess of carrying value of at least 27%. During the first quarter of 2020, we considered the economic impacts of COVID-19 to be a triggering event for review of goodwill impairment at each of our reporting units. After performing a qualitative goodwill impairment assessment as of March 31, 2020, we determined that we did not have a goodwill impairment as of that date. As a result of uncertainty caused by COVID-19 and Walker’s smaller excess of fair value percentage, this reporting unit is more susceptible to impairment risk from additional adverse changes in its operating environment, including micro- and macroeconomic environment conditions that could negatively impact them. Such adverse changes could include worsening economic conditions in the locations or markets they primarily serve, whether due to COVID-19 or other events and conditions. As of September 30, 2020, Walker had a goodwill balance of $96.8 million. ​ Identifiable Intangible Assets, Net ​ Identifiable intangible assets consist of the following (dollars in thousands): ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Estimated | ​ | September 30, 2020 | ​ | December 31, 2019
​ |  | Useful Lives |  | Gross Book |  | Accumulated |  | Gross Book |  | Accumulated
​ |  | in Years |  | Value |  | Amortization |  | Value |  | Amortization
Customer relationships |  | 1 - 15 | ​ | $ | 231,492 | ​ | $ | (97,901) | ​ | $ | 183,061 | ​ | $ | (80,813)
Backlog |  | 1 - 2 | ​ |  | 12,600 | ​ |  | (12,098) | ​ |  | 7,400 | ​ |  | (6,388)
Tradenames |  | 2 - 25 | ​ |  | 85,695 | ​ |  | (17,790) | ​ |  | 71,995 | ​ |  | (15,281)
Total | ​ | ​ | ​ | $ | 329,787 | ​ | $ | (127,789) | ​ | $ | 262,456 | ​ | $ | (102,482)
​ The amounts attributable to customer relationships and tradenames are amortized to “Selling, General and Administrative Expenses” based upon the estimated consumption of their economic benefits, or a straight-line method over periods from one to twenty-five years, if the pattern of economic benefit cannot otherwise be reliably estimated. The amounts attributable to backlog are being amortized to “Cost of Services” on a proportionate method over the remaining backlog period. Amortization expense for the three and nine months ended September 30, 2020 was $8.2 million and $25.3 million, respectively. Amortization expense for the three and nine months ended September 30, 2019 was $7.2 million and $20.2 million, respectively. ​ At September 30, 2020, future amortization expense of identifiable intangible assets is as follows (in thousands): ​
​ | ​ | ​ | ​ | ​
Year ended December 31— |  | ​ |  | ​
2020 (remainder of the year) |  | $ | 7,391 |
2021 | ​ |  | 24,610 | ​
2022 | ​ |  | 21,989 | ​
2023 | ​ |  | 20,535 | ​
2024 | ​ |  | 19,185 | ​
Thereafter | ​ |  | 108,288 | ​
Total | ​ | $ | 201,998 | ​
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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