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v3.23.1

Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following is the summary of changes to the Company's Goodwill for the three months ended March 31, 2023:
(in thousands) | Vegetation Management |  | Industrial Equipment |  |  |  | Consolidated
Balance at December 31, 2022 |  | $ | 127,562 |  |  |  | $ | 68,296 |  |  |  |  |  |  | $ | 195,858 |
Translation adjustment |  | 530 |  |  |  | 145 |  |  |  |  |  |  | 675 |
Balance at March 31, 2023 |  | $ | 128,092 |  |  |  | $ | 68,441 |  |  |  |  |  |  | $ | 196,533 |
Schedule of Finite-Lived Intangible Assets | The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands) | Estimated Useful Lives |  | March 31, 2023 |  | December 31, 2022
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 68,971 |  |  |  | $ | 68,797 |
Customer and dealer relationships | 8-15 years |  | 129,513 |  |  |  | 129,338 |
Patents and drawings | 3-12 years |  | 28,484 |  |  |  | 28,437 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 231,168 |  |  |  | 230,772 |
Less accumulated amortization |  |  | (68,836) |  |  |  | (64,931) |
Total net |  |  | 162,332 |  |  |  | 165,841 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 167,832 |  |  |  | $ | 171,341 |
Schedule of Indefinite-Lived Intangible Assets | The following is a summary of the Company's definite and indefinite-lived intangible assets net of the accumulated amortization:
(in thousands) | Estimated Useful Lives |  | March 31, 2023 |  | December 31, 2022
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 68,971 |  |  |  | $ | 68,797 |
Customer and dealer relationships | 8-15 years |  | 129,513 |  |  |  | 129,338 |
Patents and drawings | 3-12 years |  | 28,484 |  |  |  | 28,437 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 231,168 |  |  |  | 230,772 |
Less accumulated amortization |  |  | (68,836) |  |  |  | (64,931) |
Total net |  |  | 162,332 |  |  |  | 165,841 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 167,832 |  |  |  | $ | 171,341 |

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