Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2023	$	184,946	$	93,890	$	85,613		$	364,449
Goodwill acquired during the period		—		—		99,249			99,249
Prior year acquisitions measurement period adjustments		—		—		(320	)		(320	)
Foreign currency translation impact		—		—		72			72
Balance as of March 31, 2024	$	184,946	$	93,890	$	184,614		$	463,450

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


March 31, 2024	Estimated Useful Life	Gross Balance		Accumulated Amortization		Net Balance
Finite lived intangible assets
Customer relationships	2-15 years	$	228,166	$	121,456	$	106,710
Covenants not to compete	4-5 years		36,250		31,411		4,839
Trade names	1-5 years		24,434		21,306		3,128
Proprietary software	3-5 years		27,339		20,119		7,220
Patent	16 years		17,479		4,952		12,527
Total		$	333,668	$	199,244	$	134,424


December 31, 2023	Estimated Useful Life	Gross Balance		Accumulated Amortization		Net Balance
Finite lived intangible assets
Customer relationships	2-15 years	$	227,986	$	116,226	$	111,760
Covenants not to compete	4-5 years		36,250		30,889		5,361
Trade names	1-5 years		24,434		20,719		3,714
Proprietary software	3-5 years		26,486		19,309		7,177
Patent	16 years		17,479		4,678		12,801
Total		$	332,635	$	191,821	$	140,813

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 $7.4 million and $7.2 million for the three months ended March 31, 2024 and March 31, 2023, respectively.

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


December 31,
2024 (remaining)	$	27,027
2025		18,888
2026		16,183
2027		15,250
2028		11,914
Thereafter		45,162
Total	$	134,424