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Goodwill and Related Intangible Assets | 6 Months Ended
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Jun. 30, 2022
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 six months ended June 30, 2022 are as follows (in thousands):
| Renewables |  | Residential |  | Agtech |  | Infrastructure |  | Total
Balance at December 31, 2021 | $ | 188,680 |  |  | $ | 205,452 |  |  | $ | 85,132 |  |  | $ | 31,678 |  |  | $ | 510,942 |
Adjustments to prior year acquisitions | 904 |  |  | — |  |  | — |  |  | — |  |  | 904 |
Foreign currency translation | (1,980) |  |  | — |  |  | (509) |  |  | — |  |  | (2,489) |
Balance at June 30, 2022 | $ | 187,604 |  |  | $ | 205,452 |  |  | $ | 84,623 |  |  | $ | 31,678 |  |  | $ | 509,357 |
The Company is required to regularly assess whether a triggering event has occurred which would require interim impairment testing. The Company determined that no triggering event had occurred as of June 30, 2022 which would require an interim impairment test to be performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands):
| June 30, 2022 |  | December 31, 2021 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |  |
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | $ | 52,700 |  |  | $ | — |  |  | $ | 52,700 |  |  | $ | — |  |  |
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | 5,504 |  |  | 4,268 |  |  | 5,521 |  |  | 4,011 |  |  |
Unpatented technology | 34,322 |  |  | 20,941 |  |  | 38,474 |  |  | 20,656 |  |  |
Customer relationships | 103,160 |  |  | 42,201 |  |  | 108,591 |  |  | 39,832 |  |  |
Non-compete agreements | 2,382 |  |  | 1,933 |  |  | 2,686 |  |  | 1,969 |  |  |
Backlog | 6,891 |  |  | 6,891 |  |  | 7,200 |  |  | 7,200 |  |  |
| 152,259 |  |  | 76,234 |  |  | 162,472 |  |  | 73,668 |  |  |
Total acquired intangible assets | $ | 204,959 |  |  | $ | 76,234 |  |  | $ | 215,172 |  |  | $ | 73,668 |  |  |
The following table summarizes the acquired intangible asset amortization expense for the three and six months ended June 30 (in thousands):
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Amortization expense | $ | 2,819 |  |  | $ | 4,736 |  |  | $ | 5,917 |  |  | $ | 9,479 |
Amortization expense related to acquired intangible assets for the remainder of fiscal 2022 and the next five years thereafter is estimated as follows (in thousands):
| 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027
Amortization expense | $ | 5,412 |  |  | $ | 10,177 |  |  | $ | 9,996 |  |  | $ | 9,856 |  |  | $ | 8,415 |  |  | $ | 6,754 |

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- 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 https://asc.fasb.org/topic&trid=2144416 + Details
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