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Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2022

Note 6—Goodwill and Intangible Assets

The change in goodwill by segment for the three months ended March 31, 2022 was as follows (in thousands):


	Utilities		Energy/Renewables		Pipeline		Total
Balance at December 31, 2021	$	462,905	$	66,344	$	52,415	$	581,664
Goodwill acquired during the period		—		1,870		—		1,870
Balance at March 31, 2022	$	462,905	$	68,214	$	52,415	$	583,534

The table below summarizes the intangible asset categories and amounts, which are amortized on a straight-line basis (in thousands):


	March 31, 2022						December 31, 2021
	Gross Carrying Amount		Accumulated Amortization		Intangible assets, net		Gross Carrying Amount		Accumulated Amortization		Intangible assets, net
Tradename	$	20,440		(20,024)		416	$	20,440	$	(19,675)	$	765
Customer relationships		215,227		(47,960)		167,267		215,227		(44,727)		170,500
Non-compete agreements		1,900		(1,873)		27		1,900		(1,845)		55
Total	$	237,567	$	(69,857)	$	167,710	$	237,567	$	(66,247)	$	171,320

Amortization expense of intangible assets was $3.6 million and $4.2 million for the three months ended March 31, 2022 and 2021, respectively. Estimated future amortization expense for intangible assets is as follows (in thousands):


	Estimated
	Intangible
	Amortization
For the Years Ending December 31,	Expense
2022 (remaining nine months)	$	9,817
2023		12,409
2024		11,690
2025		10,968
2026		10,518
Thereafter		112,308
	$	167,710