XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.22.1

Goodwill and Intangibles | 3 Months Ended
--- | ---
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangibles | Goodwill and Intangibles Goodwill Goodwill was $11.4 million as of March 31, 2022 and December 31, 2021 and is entirely associated with the Company's ODR segment. The Company tests its goodwill and indefinite-lived intangible assets allocated to its reporting units for impairment annually on October 1, or more frequently if events or circumstances indicate that it is more likely than not that the fair value of its reporting units and indefinite-lived intangible asset are less than their carrying amount. The Company has the option to assess goodwill for possible impairment by performing a qualitative analysis to determine whether the existence of events or circumstances leads to a determination that it is more likely than not that the fair value of a reporting unit is less than its carrying amount. A quantitative assessment is performed if the qualitative assessments results in a more-likely-than-not determination or if a qualitative assessment is not performed. The Company did not recognize any impairment charges on its goodwill or intangible assets for the three months ended March 31, 2022 or March 31, 2021. Intangible Assets Intangible assets are comprised of the following:
(in thousands) | Gross carrying amount |  | Accumulated amortization |  | Net intangible assets, excluding goodwill
March 31, 2022 |  |  |  |  |
Amortized intangible assets: |  |  |  |  |
Customer relationships – GCR – Jake Marshall | $ | 570 |  |  | $ | (27) |  |  | $ | 543 |
Customer relationships – ODR – Jake Marshall | 3,050 |  |  | (134) |  |  | 2,916 |
Customer relationships – ODR – Limbach | 4,710 |  |  | (3,555) |  |  | 1,155 |
Favorable leasehold interests – Limbach | 190 |  |  | (86) |  |  | 104 |
Backlog – GCR – Jake Marshall | 260 |  |  | (55) |  |  | 205 |
Backlog – ODR – Jake Marshall | 680 |  |  | (143) |  |  | 537 |
Trade name – Jake Marshall | 1,150 |  |  | (62) |  |  | 1,088 |
Total amortized intangible assets | 10,610 |  |  | (4,062) |  |  | 6,548 |
Unamortized intangible assets: |  |  |  |  |
Trade name – Limbach(1) | 9,960 |  |  | — |  |  | 9,960 |
Total unamortized intangible assets | 9,960 |  |  | — |  |  | 9,960 |
Total amortized and unamortized assets, excluding goodwill | $ | 20,570 |  |  | $ | (4,062) |  |  | $ | 16,508 |
(1) The Company has determined that its trade name has an indefinite useful life. The Limbach trade name has been in existence since the Company’s founding in 1901 and therefore is an established brand within the industry.
(in thousands) | Gross carrying amount |  | Accumulated amortization |  | Net intangible assets, excluding goodwill
December 31, 2021 |  |  |  |  |
Amortized intangible assets: |  |  |  |  |
Customer relationships – GCR – Jake Marshall | $ | 570 |  |  | $ | (6) |  |  | $ | 564 |
Customer relationships – ODR – Jake Marshall | 3,050 |  |  | (35) |  |  | 3,015 |
Customer relationships – ODR – Limbach | 4,710 |  |  | (3,475) |  |  | 1,235 |
Favorable leasehold interests – Limbach | 190 |  |  | (82) |  |  | 108 |
Backlog – GCR – Jake Marshall | 260 |  |  | (14) |  |  | 246 |
Backlog – ODR – Jake Marshall | 680 |  |  | (36) |  |  | 644 |
Trade name – Jake Marshall | 1,150 |  |  | (15) |  |  | 1,135 |
Total amortized intangible assets | 10,610 |  |  | (3,663) |  |  | 6,947 |
Unamortized intangible assets: |  |  |  |  |
Trade name – Limbach | 9,960 |  |  | — |  |  | 9,960 |
Total unamortized intangible assets | 9,960 |  |  | — |  |  | 9,960 |
Total amortized and unamortized assets, excluding goodwill | $ | 20,570 |  |  | $ | (3,663) |  |  | $ | 16,907 |
Total amortization expense for the Company's definite-lived intangible assets was $0.4 million and $0.1 million for the three months ended March 31, 2022 and 2021, respectively.

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