| Intangible Assets |
The following table shows the Company’s intangible assets by
major asset classes as of December 31, 2024 and June 30, 2025:
| |
|
Period Ended
|
|
| |
|
December 31,
2024
|
|
|
June 30,
2025
|
|
|
Brand
|
|
$
|
279,173
|
|
|
$
|
301,909
|
|
|
Customer relationship
|
|
|
10,304,898
|
|
|
|
11,359,164
|
|
|
Order backlog
|
|
|
8,409,416
|
|
|
|
8,677,684
|
|
|
Favorable contract
|
|
|
270,467
|
|
|
|
273,554
|
|
|
Licenses, software
|
|
|
41,791
|
|
|
|
59,389
|
|
|
Concessions
|
|
|
17,858
|
|
|
|
—
|
|
|
Intangible assets, net
|
|
$
|
19,323,603
|
|
|
$
|
20,671,700
|
|
The following table reflects the gross carrying amount and
accumulated amortization as of June 30, 2025:
| |
|
Gross carrying
amount
|
|
|
Accumulated
amortization
|
|
|
Net carrying
amount
|
|
|
Brand
|
|
$
|
315,035
|
|
|
$
|
(13,126
|
)
|
|
$
|
301,909
|
|
|
Customer relationship
|
|
|
11,610,730
|
|
|
|
(251,566
|
)
|
|
|
11,359,164
|
|
|
Order backlog
|
|
|
9,524,392
|
|
|
|
(846,708
|
)
|
|
|
8,677,684
|
|
|
Favorable contract
|
|
|
306,789
|
|
|
|
(33,235
|
)
|
|
|
273,554
|
|
|
Licenses, software
|
|
|
67,083
|
|
|
|
(7,694
|
)
|
|
|
59,389
|
|
|
Total intangible assets
|
|
$
|
21,824,029
|
|
|
$
|
(1,152,329
|
)
|
|
$
|
20,671,700
|
|
|