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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Mar. 31, 2024
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, 2024:
(in thousands) | Vegetation Management |  | Industrial Equipment |  |  |  | Consolidated
Balance at December 31, 2023 |  | $ | 128,899 |  |  |  | $ | 77,637 |  |  |  |  |  |  | $ | 206,536 |
Translation adjustment |  | (584) |  |  |  | (382) |  |  |  |  |  |  | (966) |
Goodwill adjustment |  | — |  |  |  | (118) |  |  |  |  |  |  | (118) |
Balance at March 31, 2024 |  | $ | 128,315 |  |  |  | $ | 77,137 |  |  |  |  |  |  | $ | 205,452 |
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, 2024 |  | December 31, 2023
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 72,590 |  |  |  | $ | 72,834 |
Customer and dealer relationships | 8-15 years |  | 137,548 |  |  |  | 137,744 |
Patents and drawings | 3-12 years |  | 28,469 |  |  |  | 28,558 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Noncompetition agreements | 5 years |  | 200 |  |  |  | 200 |
Total at cost |  |  | 243,007 |  |  |  | 243,536 |
Less accumulated amortization |  |  | (84,598) |  |  |  | (80,740) |
Total net |  |  | 158,409 |  |  |  | 162,796 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 163,909 |  |  |  | $ | 168,296 |
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, 2024 |  | December 31, 2023
Definite: |  |  |  |  |  |
Trade names and trademarks | 15-25 years |  | $ | 72,590 |  |  |  | $ | 72,834 |
Customer and dealer relationships | 8-15 years |  | 137,548 |  |  |  | 137,744 |
Patents and drawings | 3-12 years |  | 28,469 |  |  |  | 28,558 |
Favorable leasehold interests | 7 years |  | 4,200 |  |  |  | 4,200 |
Noncompetition agreements | 5 years |  | 200 |  |  |  | 200 |
Total at cost |  |  | 243,007 |  |  |  | 243,536 |
Less accumulated amortization |  |  | (84,598) |  |  |  | (80,740) |
Total net |  |  | 158,409 |  |  |  | 162,796 |
Indefinite: |  |  |  |  |  |
Trade names and trademarks |  |  | 5,500 |  |  |  | 5,500 |
Total Intangible Assets |  |  | $ | 163,909 |  |  |  | $ | 168,296 |

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