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Goodwill and Identifiable Intangible Assets, Net | 12 Months Ended
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Dec. 31, 2022
Goodwill and Identifiable Intangible Assets, Net |
Goodwill and Identifiable Intangible Assets, Net | 6. 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, 2020 | ​ | $ | 307,448 | ​ | $ | 156,944 | ​ | $ | 464,392 | ​
Acquisitions and purchase price adjustments (See Note 5) | ​ |  | 52,771 | ​ | ​ | 74,951 | ​ | ​ | 127,722 | ​
Impact of segment reorganization | ​ | ​ | 1,101 | ​ | ​ | (1,101) | ​ | ​ | — | ​
Balance at December 31, 2021 | ​ | ​ | 361,320 | ​ | ​ | 230,794 | ​ | ​ | 592,114 | ​
Acquisitions and purchase price adjustments (See Note 5) | ​ | ​ | 2,609 | ​ | ​ | 17,066 | ​ | ​ | 19,675 | ​
Balance at December 31, 2022 | ​ | $ | 363,929 | ​ | $ | 247,860 | ​ | $ | 611,789 | ​
​ The aggregate goodwill balance as of December 31, 2022 and 2021 includes $116.6 million of accumulated impairment charges, all of which relate to the mechanical services segment. During our annual impairment testing on October 1, 2022, we performed a quantitative assessment where the fair value of each reporting unit was estimated using a discounted cash flow model combined with a market valuation approach. We assigned a weighting of 50% to the discounted cash flow analysis and 50% to the public company approach for the year ended December 31, 2022. Based on this assessment, we concluded that the fair value of each of the reporting units was greater than its carrying value. A 10% decline in the estimated fair value of each reporting unit due to a change in assumptions would not have resulted in us recording an impairment in 2022. For the years ended December 31, 2022, 2021 and 2020, no impairment of our goodwill was recorded. There are significant inherent uncertainties and management judgment involved in estimating the fair value of each reporting unit. While we believe we have made reasonable estimates and assumptions to estimate the fair value of our reporting units, it is possible that a material change could occur. If actual results are not consistent with our current estimates and assumptions, or the current economic outlook worsens, goodwill impairment charges may be recorded in future periods. Identifiable Intangible Assets, Net Identifiable intangible assets consist of the following (dollars in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Weighted-Average | ​ | December 31, 2022 | ​ | December 31, 2021
​ |  | Remaining Useful Lives |  | Gross Book |  | Accumulated |  | Gross Book |  | Accumulated
​ |  | in Years |  | Value |  | Amortization |  | Value |  | Amortization
Customer Relationships |  | 6.7 | ​ | $ | 340,721 | ​ | $ | (161,049) | ​ | $ | 330,572 | ​ | $ | (130,098)
Backlog |  | 0.8 | ​ |  | 3,200 | ​ |  | (2,361) | ​ |  | 32,300 | ​ |  | (20,091)
Trade Names |  | 18.4 | ​ |  | 121,561 | ​ |  | (28,171) | ​ |  | 114,795 | ​ |  | (22,697)
Total | ​ | ​ | ​ | $ | 465,482 | ​ | $ | (191,581) | ​ | $ | 477,667 | ​ | $ | (172,886)
​ 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 years ended December 31, 2022, 2021 and 2020 was $47.8 million, $40.5 million and $32.7 million, respectively. As of December 31, 2022, future amortization expense of identifiable intangible assets was as follows (in thousands):
​ | ​ | ​ | ​ | ​
Year ending December 31— |  | ​ |  | ​
2023 | ​ | $ | 36,252 | ​
2024 | ​ |  | 34,063 | ​
2025 | ​ |  | 31,876 | ​
2026 | ​ |  | 31,032 | ​
2027 | ​ | ​ | 29,050 | ​
Thereafter | ​ |  | 111,628 | ​
Total | ​ | $ | 273,901 | ​
​

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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