XML 27 R15.htm IDEA: XBRL DOCUMENT
v3.21.2

Goodwill and Related Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND RELATED INTANGIBLE ASSETS | GOODWILL AND RELATED INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the nine months ended September 30, 2021 are as follows (in thousands):
| Renewables |  | Residential |  | Agtech |  | Infrastructure |  | Total
Balance at December 31, 2020 | $ | 192,527 |  |  | $ | 205,452 |  |  | $ | 84,622 |  |  | $ | 31,678 |  |  | $ | 514,279 |
Adjustments to prior year acquisitions | (4,323) |  |  | — |  |  | — |  |  | — |  |  | (4,323) |
Foreign currency translation | (990) |  |  | — |  |  | (306) |  |  | — |  |  | (1,296) |
Balance at September 30, 2021 | $ | 187,214 |  |  | $ | 205,452 |  |  | $ | 84,316 |  |  | $ | 31,678 |  |  | $ | 508,660 |
The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that a triggering event has not occurred which would require an interim impairment test to be performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands):
| September 30, 2021 |  | December 31, 2020 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |  |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | $ | 61,000 |  |  | $ | — |  |  | $ | 56,570 |  |  | $ | — |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | 5,520 |  |  | 3,878 |  |  | 5,818 |  |  | 3,385 |  |  |
Unpatented technology | 38,442 |  |  | 19,891 |  |  | 38,752 |  |  | 17,765 |  |  |
Customer relationships | 108,937 |  |  | 37,815 |  |  | 98,500 |  |  | 31,580 |  |  |
Non-compete agreements | 2,685 |  |  | 1,913 |  |  | 4,885 |  |  | 1,747 |  |  |
Backlog | 7,200 |  |  | 5,632 |  |  | 7,228 |  |  | 911 |  |  |
| 162,784 |  |  | 69,129 |  |  | 155,183 |  |  | 55,388 |  |  |
Total acquired intangible assets | $ | 223,784 |  |  | $ | 69,129 |  |  | $ | 211,753 |  |  | $ | 55,388 |  |  |
The following table summarizes the acquired intangible asset amortization expense for the three and nine months ended September 30 (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Amortization expense | $ | 4,646 |  |  | $ | 2,946 |  |  | $ | 14,125 |  |  | $ | 6,948 |
Amortization expense related to acquired intangible assets for the remainder of fiscal 2021 and the next five years thereafter is estimated as follows (in thousands):
| 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026
Amortization expense | $ | 4,690 |  |  | $ | 12,132 |  |  | $ | 11,200 |  |  | $ | 11,020 |  |  | $ | 10,785 |  |  | $ | 9,210 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration