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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The following is the summary of changes to the Company's Goodwill for the nine months ended September 30, 2023:
(in thousands) | Vegetation Management |  | Industrial Equipment |  |  |  | Consolidated
Balance at December 31, 2022 |  | $ | 127,562 |  |  |  | $ | 68,296 |  |  |  |  |  |  | $ | 195,858 |
Translation adjustment |  | 122 |  |  |  | (117) |  |  |  |  |  |  | 5 |
Balance at September 30, 2023 |  | $ | 127,684 |  |  |  | $ | 68,179 |  |  |  |  |  |  | $ | 195,863 |
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 |  | September 30, 2023 |  | December 31, 2022
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 68,753 |  |  |  | $ | 68,797 |
Customer and dealer relationships | 8-15 years |  | 129,395 |  |  |  | 129,338 |
Patents and drawings | 3-12 years |  | 28,394 |  |  |  | 28,437 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Total at cost |  |  | 230,742 |  |  |  | 230,772 |
Less accumulated amortization |  |  | (76,358) |  |  |  | (64,931) |
Total net |  |  | 154,384 |  |  |  | 165,841 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 159,884 |  |  |  | $ | 171,341 |
The Company recognized amortization expense of $3.8 million and $3.8 million for the three months ended September 30, 2023 and 2022, respectively, and $11.5 million and $11.5 million for the nine months ended September 30, 2023 and 2022, respectively.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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