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Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
Goodwill
The following table presents the changes in the carrying amount of goodwill since its inception through June 30, 2022:
(in thousands)CivilBuildingSpecialty
Contractors
Total
Gross goodwill as of December 31, 2021$492,074 $424,724 $156,193 $1,072,991 
Accumulated impairment as of December 31, 2021(286,931)(424,724)(156,193)(867,848)
Goodwill as of December 31, 2021205,143 — — 205,143 
Current year activity— — — — 
Goodwill as of June 30, 2022$205,143 $— $— $205,143 
The Company performed its annual impairment test in the fourth quarter of 2021 and concluded goodwill was not impaired. In addition, the Company determined that no triggering events occurred and no circumstances changed since the date of our annual impairment test that would more likely than not reduce the fair value of the Civil reporting unit below its carrying amount.
The Company will continue to monitor events and circumstances for changes that indicate the Civil reporting unit goodwill would need to be reevaluated for impairment during future interim periods prior to the annual impairment test. These future events and circumstances include, but are not limited to, changes in the overall financial performance of the Civil reporting unit, impacts to our business as a result of the COVID-19 pandemic, as well as other quantitative and qualitative factors which could indicate potential triggering events for possible impairment.
Intangible Assets
Intangible assets consist of the following:
As of June 30, 2022Weighted-Average Amortization Period
(in thousands)CostAccumulated
Amortization
Accumulated Impairment ChargeCarrying Value
Trade names (non-amortizable)$117,600 $— $(67,190)$50,410 Indefinite
Trade names (amortizable)69,250 (24,767)(23,232)21,251 20 years
Contractor license6,000 — (6,000)— N/A
Customer relationships39,800 (23,155)(16,645)— N/A
Construction contract backlog149,290 (146,060)— 3,230 3 years
Total$381,940 $(193,982)$(113,067)$74,891 
As of December 31, 2021Weighted-Average Amortization Period
(in thousands)CostAccumulated
Amortization
Accumulated Impairment ChargeCarrying Value
Trade names (non-amortizable)$117,600 $— $(67,190)$50,410 Indefinite
Trade names (amortizable)69,250 (23,650)(23,232)22,368 20 years
Contractor license6,000 — (6,000)— N/A
Customer relationships39,800 (23,053)(16,645)102 12 years
Construction contract backlog149,290 (137,102)— 12,188 3 years
Total$381,940 $(183,805)$(113,067)$85,068 
Amortization expense for the three and six months ended June 30, 2022 was $4.7 million and $10.2 million, respectively. Amortization expense for the three and six months ended June 30, 2021 was $10.7 million and $17.3 million, respectively. As of June 30, 2022, future amortization expense is estimated to be $4.3 million for the remainder of 2022, $2.2 million per year for the years 2023 through 2027 and $9.2 million thereafter.
The Company performed its annual impairment test for non-amortizable trade names during the fourth quarter of 2021. Based on this assessment, the Company concluded that its non-amortizable trade names were not impaired. In addition, the Company determined that no triggering events occurred and no circumstances changed since the date of our annual impairment test that would indicate impairment of its non-amortizable trade names.