Intangible Assets

3 Months Ended

Mar. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

The gross amount and accumulated amortization of intangible assets with finite useful lives included in “Intangible assets, net” on the consolidated balance sheets are as follows (in thousands except for years):


	March 31, 2025							December 31, 2024							Weighted Average
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Amortization Period (in years)
Backlog		144,000		(58,890	)		85,110		142,100		(51,322	)		90,778		4.4
Customer relationships		372,930		(146,063	)		226,867		372,930		(139,568	)		233,362		11.6
Developed technology		27,100		(8,710	)		18,390		23,200		(7,458	)		15,742		5.1
Trade name		1,800		(742	)		1,058		1,500		(367	)		1,133		1.0
Non-compete agreements		8,300		(1,895	)		6,405		8,300		(1,203	)		7,097		3.0
In process research and development		1,800		-			1,800		1,800		-			1,800	n/a
Other intangibles		25		-			25		25		-			25	n/a
Total intangible assets	$	555,955	$	(216,300	)	$	339,655	$	549,855	$	(199,918	)	$	349,937

The aggregate amortization expense of intangible assets for the three months ended March 31, 2025 and March 31, 2024 was $16.4 million and $13.7 million, respectively.

Estimated amortization expense for the remainder of the current fiscal year and in each of the next four years and beyond is as follows (in thousands):


	March 31, 2025
2025	$	49,582
2026		58,231
2027		51,652
2028		37,184
2029		22,918
Thereafter		118,288
Total	$	337,855