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Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2023
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, 2022

 

$

185,116

 

 

$

86,205

 

 

$

52,547

 

 

$

323,868

 

Goodwill acquired during the period

 

 

 

 

 

844

 

 

 

1,965

 

 

 

2,809

 

Acquisitions measurement period adjustments

 

 

(169

)

 

 

(10

)

 

 

 

 

 

(179

)

Balance as of March 31, 2023

 

$

184,947

 

 

$

87,039

 

 

$

54,512

 

 

$

326,498

 

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

 

March 31, 2023

 

Estimated
Useful Life

 

Gross
Balance

 

 

Accumulated
Amortization

 

 

Total
Intangible
Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

2-15 years

 

$

209,426

 

 

$

100,404

 

 

$

109,022

 

Covenants not to compete

 

4-5 years

 

 

33,805

 

 

 

29,020

 

 

 

4,785

 

Trade names

 

1-5 years

 

 

22,167

 

 

 

18,708

 

 

 

3,459

 

Proprietary software

 

3-5 years

 

 

23,324

 

 

 

16,942

 

 

 

6,382

 

Patent

 

16 years

 

 

17,479

 

 

 

3,856

 

 

 

13,623

 

Total other intangible assets
   —net

 

 

 

$

306,201

 

 

$

168,930

 

 

$

137,271

 

 

December 31, 2022

 

Estimated
Useful Life

 

Gross
Balance

 

 

Accumulated
Amortization

 

 

Total
Intangible
Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

2-15 years

 

$

208,024

 

 

$

95,768

 

 

$

112,256

 

Covenants not to compete

 

4-5 years

 

 

33,542

 

 

 

28,280

 

 

 

5,262

 

Trade names

 

1-5 years

 

 

22,061

 

 

 

18,256

 

 

 

3,805

 

Proprietary software

 

3-5 years

 

 

22,698

 

 

 

15,810

 

 

 

6,888

 

Patent

 

16 years

 

 

17,479

 

 

 

3,583

 

 

 

13,896

 

Total other intangible assets
   —net

 

 

 

$

303,804

 

 

$

161,697

 

 

$

142,107

 

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 $7.2 million and $9.4 million for the three months ended March 31, 2023 and March 31, 2022, respectively.

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

 

December 31,

 

 

 

2023 (remaining)

 

 

20,920

 

2024

 

 

24,607

 

2025

 

 

17,727

 

2026

 

 

13,952

 

2027

 

 

13,429

 

Thereafter

 

 

46,636

 

Total

 

$

137,271