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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill The following table presents the changes in the carrying amount of goodwill since its inception through June 30, 2023:
(in thousands) | Civil | Building | Specialty Contractors | Total
Gross goodwill as of December 31, 2022 | $ | 492,074 |  | $ | 424,724 |  | $ | 156,193 |  | $ | 1,072,991 |
Accumulated impairment as of December 31, 2022 | (286,931) |  | (424,724) |  | (156,193) |  | (867,848) |
Goodwill as of December 31, 2022 | 205,143 |  | — |  | — |  | 205,143 |
Current year activity | — |  | — |  | — |  | — |
Goodwill as of June 30, 2023 | $ | 205,143 |  | $ | — |  | $ | — |  | $ | 205,143 |
The Company performed its annual impairment test in the fourth quarter of 2022 and concluded goodwill was not impaired. In addition, the Company determined that no triggering events occurred and no circumstances changed since the date of our annual impairment test that would more likely than not reduce the fair value of the Civil reporting unit below its carrying amount. The Company will continue to monitor events and circumstances for changes that indicate the Civil reporting unit goodwill would need to be reevaluated for impairment during future interim periods prior to the annual impairment test. These future events and circumstances include, but are not limited to, changes in the overall financial performance of the Civil reporting unit, as well as other quantitative and qualitative factors which could indicate potential triggering events for possible impairment. Intangible Assets Intangible assets consist of the following:
| As of June 30, 2023 |  | Weighted-Average Amortization Period
(in thousands) | Cost | Accumulated Amortization | Accumulated Impairment Charge | Carrying Value |
Trade names (non-amortizable) | $ | 117,600 |  | $ | — |  | $ | (67,190) |  | $ | 50,410 |  |  | Indefinite
Trade names (amortizable) | 69,250 |  | (27,004) |  | (23,232) |  | 19,014 |  |  | 20 years
Contractor license | 6,000 |  | — |  | (6,000) |  | — |  |  | N/A
Customer relationships | 39,800 |  | (23,155) |  | (16,645) |  | — |  |  | N/A
Construction contract backlog | 149,290 |  | (149,290) |  | — |  | — |  |  | N/A
Total | $ | 381,940 |  | $ | (199,449) |  | $ | (113,067) |  | $ | 69,424 |  |  |
| As of December 31, 2022 |  | Weighted-Average Amortization Period
(in thousands) | Cost | Accumulated Amortization | Accumulated Impairment Charge | Carrying Value |
Trade names (non-amortizable) | $ | 117,600 |  | $ | — |  | $ | (67,190) |  | $ | 50,410 |  |  | Indefinite
Trade names (amortizable) | 69,250 |  | (25,886) |  | (23,232) |  | 20,132 |  |  | 20 years
Contractor license | 6,000 |  | — |  | (6,000) |  | — |  |  | N/A
Customer relationships | 39,800 |  | (23,155) |  | (16,645) |  | — |  |  | N/A
Construction contract backlog | 149,290 |  | (149,290) |  | — |  | — |  |  | N/A
Total | $ | 381,940 |  | $ | (198,331) |  | $ | (113,067) |  | $ | 70,542 |  |  |
Amortization expense related to amortizable intangible assets for the three and six months ended June 30, 2023 was $0.6 million and $1.1 million, respectively. Amortization expense related to amortizable intangible assets for the three and six months ended June 30, 2022 was $4.7 million and $10.2 million, respectively. As of June 30, 2023, future amortization expense related to amortizable intangible assets will be approximately $1.1 million for the remainder of 2023, $2.2 million per year for the years 2024 through 2028 and $6.9 million thereafter. The Company performed its annual impairment test for non-amortizable trade names during the fourth quarter of 2022. Based on this assessment, the Company concluded that its non-amortizable trade names were not impaired. In addition, the Company determined that no triggering events occurred and no circumstances changed since the date of our annual impairment test that would indicate impairment of its non-amortizable trade names. Other amortizable intangible assets are reviewed for impairment whenever circumstances indicate that future cash flows generated by the assets might be less than the assets’ net carrying value. The Company had no impairment of intangible assets during the three and six months ended June 30, 2023 or 2022.

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