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Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

7. GOODWILL AND INTANGIBLE ASSETS

Amounts related to goodwill as of June 30, 2020 and December 31, 2019 are as follows:

 

 

 

Assessment,

Permitting

and Response

 

 

Measurements

and

Analysis

 

 

Remediation

and

Reuse

 

 

Total

 

Balance as of December 31, 2019

 

$

15,173

 

 

$

68,628

 

 

$

43,257

 

 

$

127,058

 

Goodwill acquired during the period

 

 

146,038

 

 

 

 

 

 

 

 

 

146,038

 

Balance as of June 30, 2020

 

$

161,211

 

 

$

68,628

 

 

$

43,257

 

 

$

273,096

 

 

Amounts related to finite-lived intangible assets as of June 30, 2020 and December 31, 2019 are as follows:

 

June 30, 2020

 

Estimated

Useful Life

 

Gross

Balance

 

 

Accumulated

Amortization

 

 

Total

Intangible

Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

7–15 years

 

$

164,782

 

 

$

44,665

 

 

$

120,117

 

Covenants not to compete

 

4–5 years

 

 

29,832

 

 

 

19,424

 

 

 

10,408

 

Trade names

 

1–5 years

 

 

16,943

 

 

 

11,518

 

 

 

5,425

 

Proprietary software

 

3-5 years

 

 

19,561

 

 

 

2,865

 

 

 

16,696

 

Patent

 

16 years

 

 

17,479

 

 

 

851

 

 

 

16,628

 

Total other intangible assets—net

 

 

 

$

248,597

 

 

$

79,323

 

 

$

169,274

 

 

December 31, 2019

 

Estimated

Useful Life

 

Gross

Balance

 

 

Accumulated

Amortization

 

 

Total

Intangible

Assets—Net

 

Finite lived intangible assets

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

7–10 years

 

$

108,782

 

 

$

36,700

 

 

$

72,082

 

Covenants not to compete

 

4–5 years

 

 

25,832

 

 

 

17,572

 

 

 

8,260

 

Trade names

 

1–5 years

 

 

12,738

 

 

 

10,230

 

 

 

2,508

 

Proprietary software

 

3 years

 

 

3,885

 

 

 

1,359

 

 

 

2,526

 

Patent

 

16 years

 

 

17,479

 

 

 

306

 

 

 

17,173

 

Total other intangible assets—net

 

 

 

$

168,716

 

 

$

66,167

 

 

$

102,549

 

 

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 $7.8 million and $13.3 million for the three and six months ended June 30, 2020, respectively and $4.5 million and $9.1 million for the three and six months ended June 30, 2019, respectively.

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

 

December 31,

 

 

 

 

2020 (remaining)

 

$

15,106

 

2021

 

 

28,043

 

2022

 

 

23,958

 

2023

 

 

20,005

 

2024

 

 

16,929

 

Thereafter

 

 

65,233

 

 

 

$

169,274