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Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2023
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 December 31, 2023:
(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 
2022 activity— — — — 
Goodwill as of December 31, 2022205,143 — — 205,143 
Current year activity— — — — 
Goodwill as of December 31, 2023(a)
$205,143 $— $— $205,143 
_____________________________________________________________________________________________________________
(a)As of December 31, 2023, accumulated impairment was $867.8 million.
The Company performed its annual impairment test in the fourth quarter of 2023 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, 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 December 31, 2023Weighted-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 (28,123)(23,232)17,895 20 years
Contractor license6,000 — (6,000)— N/A
Customer relationships39,800 (23,155)(16,645)— N/A
Construction contract backlog149,290 (149,290)— — N/A
Total$381,940 $(200,568)$(113,067)$68,305 
As of December 31, 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 (25,886)(23,232)20,132 20 years
Contractor license6,000 — (6,000)— N/A
Customer relationships39,800 (23,155)(16,645)— N/A
Construction contract backlog149,290 (149,290)— — N/A
Total$381,940 $(198,331)$(113,067)$70,542 
Amortization expense related to amortizable intangible assets was $2.2 million, $14.5 million and $35.5 million for the years ended December 31, 2023, 2022 and 2021, respectively. Future amortization expense related to amortizable intangible assets will be approximately $2.2 million per year for the years 2024 through 2028, and $6.9 million thereafter.
The Company performed its annual impairment test for non-amortizable trade names during the fourth quarter of 2023. 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. Other amortizable intangible assets are reviewed for impairment whenever circumstances indicate that the future cash flows generated by the assets might be less than the assets’ net carrying value. The Company had no impairment of intangible assets during the years ended December 31, 2023, 2022 or 2021.