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Goodwill and Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following is the summary of changes to the Company's Goodwill for the six months ended June 30, 2023:
(in thousands) | Vegetation Management |  | Industrial Equipment |  |  |  | Consolidated
Balance at December 31, 2022 |  | $ | 127,562 |  |  |  | $ | 68,296 |  |  |  |  |  |  | $ | 195,858 |
Translation adjustment |  | 1,223 |  |  |  | 364 |  |  |  |  |  |  | 1,587 |
Balance at June 30, 2023 |  | $ | 128,785 |  |  |  | $ | 68,660 |  |  |  |  |  |  | $ | 197,445 |
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 |  | June 30, 2023 |  | December 31, 2022
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 69,148 |  |  |  | $ | 68,797 |
Customer and dealer relationships | 8-15 years |  | 129,815 |  |  |  | 129,338 |
Patents and drawings | 3-12 years |  | 28,517 |  |  |  | 28,437 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 231,680 |  |  |  | 230,772 |
Less accumulated amortization |  |  | (72,804) |  |  |  | (64,931) |
Total net |  |  | 158,876 |  |  |  | 165,841 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 164,376 |  |  |  | $ | 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 |  | June 30, 2023 |  | December 31, 2022
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 69,148 |  |  |  | $ | 68,797 |
Customer and dealer relationships | 8-15 years |  | 129,815 |  |  |  | 129,338 |
Patents and drawings | 3-12 years |  | 28,517 |  |  |  | 28,437 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 231,680 |  |  |  | 230,772 |
Less accumulated amortization |  |  | (72,804) |  |  |  | (64,931) |
Total net |  |  | 158,876 |  |  |  | 165,841 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 164,376 |  |  |  | $ | 171,341 |

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