Intangible assets include customer relationships, non-compete agreements, trade names, technology, patents, and other intangibles associated with various business and asset acquisitions. These acquired intangible assets were recorded at fair value determined as of the date of acquisition and are being amortized over the period we expect to benefit from the assets.

A summary of intangible assets as of March 31, 2026 and December 31, 2025 is as follows:


	March 31, 2026
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	145,648	$	(50,186	)	$	95,462
Trade names		11,700		(2,167	)		9,533
Technology, patents, and other		8,100		(1,115	)		6,985
Total	$	165,448	$	(53,468	)	$	111,980

	December 31, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	145,648	$	(46,488	)	$	99,160
Trade names		11,700		(1,822	)		9,878
Technology, patents, and other		8,100		(908	)		7,192
Total	$	165,448	$	(49,218	)	$	116,230

Amortization expense on intangible assets was $4.2 million and $3.6 million for the three months ended March 31, 2026 and 2025, respectively.

The following table presents a roll-forward of goodwill for the three months ended March 31, 2026:


(in thousands)	Goodwill, Gross		Accumulated Impairment			Goodwill, Net
Balance at December 31, 2025	$	170,224	$	(70,504	)	$	99,720
Foreign currency translation adjustment		38		—			38
Balance at March 31, 2026	$	170,262	$	(70,504	)	$	99,758

We analyzed definite lived intangible assets for impairment as of March 31, 2026 and December 31, 2025, in accordance with ASC 360, noting no impairment indicators were present. We analyzed goodwill for impairment as of March 31, 2026 and December 31, 2025, in accordance with Accounting Standards Codification Topic 350, Intangibles—Goodwill and Other (“ASC 350”), noting no impairment indicators were present. For our annual goodwill impairment test as of December 31, 2025, we performed a qualitative assessment to determine if it was more likely than not (that is, a likelihood of more than 50 percent) that the fair value of our reporting unit was less than its carrying value as of the test date, for which we determined that it was not. We evaluated events and circumstances since the date of our last quantitative or qualitative assessment, including macroeconomic conditions, industry, and market conditions, and our overall financial performance, and it was determined that no changes in circumstances indicated that a potential impairment of goodwill had occurred. Therefore, no impairment charges were recorded related to goodwill for the three months ended March 31, 2026. We will continue to evaluate our goodwill and definite lived assets for potential triggering events as conditions warrant.