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Goodwill | 3 Months Ended
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Mar. 31, 2025
Intangible Assets Disclosure [Abstract] |
Goodwill | The changes in the carrying amount of goodwill for the periods ended March 31, 2025 and 2024, are as follows:
|  | Segment |
|  | Engine Services |  |  | Component Repair Services |  |  | Total |
|  | (in thousands) |
Balance, December 31, 2024 |  | $ | 1,224,707 |  |  | $ | 461,263 |  |  | $ | 1,685,970 |
Post-closing adjustment |  |  | — |  |  |  | (766 | ) |  |  | (766 | )
Balance, March 31, 2025 |  | $ | 1,224,707 |  |  | $ | 460,497 |  |  | $ | 1,685,204 |
|  | Segment |
|  | Engine Services |  |  | Component Repair Services |  |  | Total |
|  | (in thousands) |
Balance, December 31, 2023 |  | $ | 1,224,707 |  |  | $ | 407,789 |  |  | $ | 1,632,496 |
Goodwill acquired |  |  | — |  |  |  | — |  |  |  | — |
Goodwill, March 31, 2024 |  | $ | 1,224,707 |  |  | $ | 407,789 |  |  | $ | 1,632,496 |
Goodwill Impairment Testing The Company reviews goodwill at least annually for potential impairment, as of October 1, and more frequently, if events or changes in circumstances suggest that impairment may exist. The Company performed its annual goodwill impairment testing as of October 1, 2024, and determined that no adjustments to the carrying value of goodwill were necessary as it was more likely than not that the fair values of our reporting units are above their carrying values and that no impairment had occurred. We have assessed the changes in events and circumstances through the quarter ended March 31, 2025, and have concluded that no triggering events have occurred that would require interim testing.

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