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Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets

Schedule of goodwill by reporting unit

The carrying amount of goodwill by reportable segment was as follows (in thousands):

​

​	​	​	​	​	​	​
​	​	September 30,		​	December 31,
Reporting Segment		2024			2023
Utilities		$	703,462	​	$	703,462
Energy			154,188	​		154,188
Total Goodwill	​	$	857,650	​	$	857,650

​

Summary of intangible asset categories, amounts and the average amortization periods

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

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

September 30, 2024

​

December 31, 2023

​

Gross Carrying Amount

Accumulated Amortization

Intangible assets, net

Gross Carrying Amount

Accumulated Amortization

Intangible assets, net

Tradenames

$

19,220

​

$

(17,692)

​

$

1,528

​

$

19,220

​

$

(15,799)

​

$

3,421

Customer relationships

295,977

​

(84,950)

​

211,027

​

295,977

​

(71,837)

​

224,140

Total

$

315,197

​

$

(102,642)

​

$

212,555

​

$

315,197

​

$

(87,636)

​

$

227,561

Schedule of estimated future amortization expense for intangible assets

Estimated future amortization expense for intangible assets is as follows (in thousands):

​

​	​	​	​
​	​	Estimated
​	​	Intangible
​	​	Amortization
For the Years Ending December 31,		Expense
2024 (remaining three months)	​	$	4,658
2025	​	​	17,661
2026	​		16,141
2027	​		15,604
2028	​		14,381
Thereafter	​		144,110
​	​	$	212,555

​

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