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Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2025

Goodwill and Intangible Assets

Schedule of goodwill by reporting unit

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

​

​	​	​	​	​	​	​
​	​	June 30,		​	December 31,
Reporting Segment		2025			2024
Utilities		$	703,462	​	$	703,462
Energy			153,407	​		153,407
Total Goodwill	​	$	856,869	​	$	856,869

​

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):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

June 30, 2025

​

December 31, 2024

​

Gross Carrying Amount

Accumulated Amortization

Intangible Assets, Net

Gross Carrying Amount

Accumulated Amortization

Intangible Assets, Net

Tradenames

$

19,220

​

$

(19,067)

​

$

153

​

$

19,220

​

$

(18,151)

​

$

1,069

Customer relationships

295,977

​

(97,467)

​

198,510

​

295,977

​

(89,150)

​

206,827

Total

$

315,197

​

$

(116,534)

​

$

198,663

​

$

315,197

​

$

(107,301)

​

$

207,896

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
2025 (remaining six months)	​	​	8,422
2026	​		16,135
2027	​		15,598
2028	​		14,375
2029	​		14,375
Thereafter	​		129,758
​	​	$	198,663

​

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