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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill were as follows:

 

(dollar amounts in thousands)

 

Mobile Modular

 

 

Adler Tanks (Discontinued)

 

 

Total

 

Balance at December 31, 2021

 

$

106,491

 

 

$

25,902

 

 

$

132,393

 

Changes to Design Space purchase accounting

 

 

(88

)

 

 

 

 

 

(88

)

Balance at December 31, 2022

 

 

106,403

 

 

 

25,902

 

 

 

132,305

 

Goodwill acquired through business combination

 

 

217,396

 

 

 

 

 

 

217,396

 

Derecognition of goodwill divested

 

 

 

 

 

(25,902

)

 

 

(25,902

)

Balance at March 31, 2023

 

$

323,799

 

 

$

 

 

$

323,799

 

 

 

 

 

 

 

 

 

 

 

 

Summary of Intangible Assets

Intangible assets consist of the following:

 

(dollar amounts in thousands)

 

Estimated
useful life
in years

 

Average remaining life in years

 

Cost

 

 

Accumulated amortization

 

 

Net book value

 

March 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

8 to 11

 

7.6

 

$

68,419

 

 

$

(10,951

)

 

$

57,468

 

Non-compete agreements

 

5

 

4.3

 

 

10,455

 

 

 

(1,561

)

 

 

8,894

 

Trade name

 

0.75 to 8

 

1.3

 

 

2,000

 

 

 

(478

)

 

 

1,522

 

   Total amortizing

 

 

 

 

 

 

80,874

 

 

 

(12,990

)

 

 

67,884

 

Trade name - non-amortizing

 

Indefinite

 

 

 

 

171

 

 

 

 

 

 

171

 

   Total

 

 

 

 

 

$

81,045

 

 

$

(12,990

)

 

$

68,055

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

8 to 11

 

6.3

 

$

50,284

 

 

$

(18,098

)

 

$

32,186

 

Non-compete agreements

 

5

 

3.2

 

 

3,296

 

 

 

(1,159

)

 

 

2,137

 

Customer backlog

 

 

 

 

1,900

 

 

 

(1,900

)

 

 

 

Trade name

 

8

 

6.3

 

 

1,200

 

 

 

(263

)

 

 

937

 

   Total amortizing

 

 

 

 

 

 

56,680

 

 

 

(21,420

)

 

 

35,260

 

Trade name - non-amortizing

 

Indefinite

 

 

 

 

5,871

 

 

 

 

 

 

5,871

 

   Total

 

 

 

 

 

$

62,551

 

 

$

(21,420

)

 

$

41,131