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Acquisition (Tables) | 12 Months Ended
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Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
Schedule of acquisition | The following table summarizes the allocation of the opening balance sheet as of the date of the Powerline Plus Companies acquisition:
(in thousands) |  | January 4, 2022 acquisition date (initial estimates) |  | Measurement Period Adjustments |  | Final Acquisition Allocation
Cash paid |  | $ | 114,429 |  |  | $ | — |  |  | $ | 114,429 |
Contingent consideration - fair value at acquisition date |  | 10,608 |  |  | (9,743) |  |  | 865 |
Net asset and other adjustments |  | 563 |  |  | (479) |  |  | 84 |
Total consideration, net of estimated net asset adjustments |  | 125,600 |  |  | (10,222) |  |  | 115,378 |
Less: Acquired cash |  | (3,853) |  |  | — |  |  | (3,853) |
Total consideration less cash acquired, net of net asset and other adjustments |  | $ | 121,747 |  |  | $ | (10,222) |  |  | $ | 111,525 |
Cash and cash equivalents |  | $ | 3,853 |  |  | $ | — |  |  | $ | 3,853 |
Accounts receivable |  | 12,131 |  |  | (52) |  |  | 12,079 |
Contract assets |  | 12,443 |  |  | 148 |  |  | 12,591 |
Refundable income taxes |  | 394 |  |  | 482 |  |  | 876 |
Prepaid expenses and other current assets |  | 1,233 |  |  | (121) |  |  | 1,112 |
Property and equipment |  | 10,366 |  |  | 1,577 |  |  | 11,943 |
Operating lease right-of-use assets |  | 6,631 |  |  | (511) |  |  | 6,120 |
Intangible assets |  | — |  |  | 50,246 |  |  | 50,246 |
Accounts payable |  | (8,095) |  |  | (466) |  |  | (8,561) |
Contract liabilities |  | (1,597) |  |  | (95) |  |  | (1,692) |
Current portion of operating lease obligations |  | (1,224) |  |  | — |  |  | (1,224) |
Current portion of finance lease obligations |  | (1,492) |  |  | — |  |  | (1,492) |
Deferred income tax liabilities |  | (1,358) |  |  | (13,991) |  |  | (15,349) |
Operating lease obligations, net of current maturities |  | (4,897) |  |  | — |  |  | (4,897) |
Finance lease obligations, net of current maturities |  | (3,243) |  |  | — |  |  | (3,243) |
Net identifiable assets and liabilities |  | 25,145 |  |  | 37,217 |  |  | 62,362 |
Unallocated intangible assets |  | 56,650 |  |  | (56,650) |  |  | — |
Total acquired assets and liabilities |  | 81,795 |  |  | (19,433) |  |  | 62,362 |
Goodwill |  | $ | 43,805 |  |  | $ | 9,211 |  |  | $ | 53,016 |
Summary of identifiable intangible assets | The following table summarizes the estimated fair values of identifiable intangible assets and the related weighted average amortization periods as of the acquisition date of the Powerline Plus Companies.
|  | Estimated Fair Value at Acquisition Date |  | Weighted Average Amortization Period at Acquisition Date
|  | (in thousands) |  | (in years)
Amortizable Intangible Assets |  |  |  |
Customer relationships |  | $ | 39,757 |  |  | 15.0
Backlog |  | 4,007 |  |  | 1.0
Below market lease |  | 511 |  |  | 5.0
Total amortizable intangible assets |  | $ | 44,275 |  |  | 14.9
Indefinite-lived Intangible Assets |  |  |  |
Trade names |  | 5,971 |  |  | Indefinite
Total intangible assets |  | $ | 50,246 |  |  |

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- Definition Tabular disclosure of finite-lived and indefinite-lived intangible assets acquired as part of a business combination. + References No definition available. + Details
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