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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

8. GOODWILL AND INTANGIBLE ASSETS

Amounts related to goodwill are as follows:

 

 

 

Assessment,
Permitting
and Response

 

 

Measurement
and
Analysis

 

 

Remediation
and
Reuse

 

 

Total

 

Balance as of December 31, 2021

 

$

176,541

 

 

$

83,770

 

 

$

51,633

 

 

$

311,944

 

Goodwill acquired during the period

 

 

4,764

 

 

 

2,158

 

 

 

150

 

 

 

7,072

 

Acquisitions measurement period adjustments

 

 

(899

)

 

 

296

 

 

 

 

 

 

(603

)

Balance as of September 30, 2022

 

$

180,406

 

 

$

86,224

 

 

$

51,783

 

 

$

318,413

 

Amounts related to finite-lived intangible assets are as follows:

 

September 30, 2022

 

Estimated
Useful Life

 

Gross
Balance

 

 

Accumulated
Amortization

 

 

Total
Intangible
Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

2-15 years

 

$

204,926

 

 

$

90,572

 

 

$

114,354

 

Covenants not to compete

 

4-5 years

 

 

33,286

 

 

 

27,523

 

 

 

5,763

 

Trade names

 

1-5 years

 

 

21,673

 

 

 

17,442

 

 

 

4,231

 

Proprietary software

 

3-5 years

 

 

22,469

 

 

 

14,719

 

 

 

7,750

 

Patent

 

16 years

 

 

17,479

 

 

 

3,309

 

 

 

14,170

 

Total other intangible assets
   —net

 

 

 

$

299,833

 

 

$

153,565

 

 

$

146,268

 

 

December 31, 2021

 

Estimated
Useful Life

 

Gross
Balance

 

 

Accumulated
Amortization

 

 

Total
Intangible
Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

2-15 years

 

$

196,323

 

 

$

74,010

 

 

$

122,313

 

Covenants not to compete

 

4-5 years

 

 

32,622

 

 

 

25,113

 

 

 

7,509

 

Trade names

 

1-5 years

 

 

20,403

 

 

 

15,139

 

 

 

5,264

 

Proprietary software

 

3-5 years

 

 

22,077

 

 

 

11,155

 

 

 

10,922

 

Patent

 

16 years

 

 

17,479

 

 

 

2,490

 

 

 

14,989

 

Total other intangible assets
   —net

 

 

 

$

288,904

 

 

$

127,907

 

 

$

160,997

 

Intangible assets with finite lives are stated at cost, less accumulated amortization and impairment losses, if any. These intangible assets are amortized using the straight-line method over the estimated useful lives of the assets. Amortization expense was $8.7 million and $27.6 million for the three and nine months ended September 30, 2022, respectively, and $8.9 million and $25.9 million for the three and nine months ended September 30, 2021, respectively.

Future amortization expense is estimated to be as follows for each of the five following years and thereafter:

 

December 31,

 

 

 

2022 (remaining)

 

 

8,135

 

2023

 

 

28,163

 

2024

 

 

23,588

 

2025

 

 

16,897

 

2026 and thereafter

 

 

69,485

 

Total

 

$

146,268