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Goodwill and intangible assets (Tables)
12 Months Ended
Dec. 31, 2022
Goodwill and intangible assets  
Schedule of goodwill by reportable segment

(in thousands)

 

Infrastructure

 

 

Telecommunications

 

 

Total

 

Goodwill, gross, at December 31, 2020

 

$27,327

 

 

$549

 

 

$27,876

 

Additions

 

 

25,148

 

 

 

-

 

 

 

25,148

 

Measurement period adjustments

 

 

135

 

 

 

223

 

 

 

358

 

Goodwill, gross, at December 31, 2021

 

 

52,610

 

 

 

772

 

 

 

53,382

 

Addition

 

 

18,497

 

 

 

-

 

 

 

18,497

 

Measurement period adjustments

 

 

(31,880)

 

 

-

 

 

 

(31,880)

Goodwill, gross, at December 31, 2022

 

$39,227

 

 

$772

 

 

$39,999

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated impairment at December 31, 2020

 

$(10,700)

 

$-

 

 

$(10,700)

Impairment

 

 

(16,627)

 

 

-

 

 

 

(16,627)

Accumulated impairment at December 31, 2021

 

 

(27,327)

 

 

-

 

 

 

(27,327)

Impairment

 

 

-

 

 

 

-

 

 

 

-

 

Accumulated impairment at December 31, 2022

 

$(27,327)

 

$-

 

 

$(27,327)

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill, net, at December 31, 2021

 

$25,283

 

 

$772

 

 

$26,055

 

Goodwill, net, at December 31, 2022

 

$11,900

 

 

$772

 

 

$12,672

 

Schedule of fair value of the EV Depot

 

 

Estimates and Assumptions

 

 

 

Fourth Quarter 2022

 

Discount Rate

 

 

15.5%

Forecasted revenue growth rates

 

3% to 42

%

Terminal value growth rate

 

 

3%
Intangible assets

 

 

December 31, 2022

 

(in thousands)

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Carrying Amount

 

Customer relationships

 

$30,849

 

 

$(2,489)

 

$28,360

 

Backlog

 

 

3,322

 

 

 

(1,107)

 

 

2,215

 

Non-compete agreements

 

 

3,729

 

 

 

(895)

 

 

2,834

 

Off-market favorable leases

 

 

955

 

 

 

(955)

 

 

-

 

Brand

 

 

560

 

 

 

(37)

 

 

523

 

Total

 

$39,415

 

 

$(5,483)

 

$33,932

 

Estimated future amortization expense

(in thousands)

 

 

 

2023

 

$4,134

 

2024

 

 

4,134

 

2025

 

 

3,026

 

2026

 

 

2,132

 

2027

 

 

2,094

 

Thereafter

 

 

18,412

 

Total

 

$33,932