| Schedule of Changes in Carrying Amount of Goodwill |
The changes in the carrying amount of goodwill are as follows:
|
|
|
|
|
|
|
Three months ended
March 31, 2026 |
|
Beginning balance |
|
$ |
23,510,649 |
|
Goodwill acquired in current‑period business combinations |
|
|
105,109,288 |
|
Ending balance |
|
$ |
128,619,937 |
|
|
| Schedule of Intangible Assets |
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
December 31,
2025 |
|
Weighted Average Life (Years) |
Gross Carrying Amount |
Accumulated Amortization |
Carrying Value |
|
Gross Carrying Amount |
Accumulated Amortization |
Carrying Value |
Backlog |
1.4 |
$25,971,000 |
$(8,551,521) |
$17,419,479 |
|
$7,542,000 |
$(6,479,500) |
$1,062,500 |
Customer relationships |
11.1 |
82,500,000 |
(1,752,601) |
80,747,399 |
|
14,600,000 |
(523,808) |
14,076,192 |
Trade name |
9.5 |
10,071,000 |
(357,014) |
9,713,986 |
|
500,000 |
(125,000) |
375,000 |
Non-compete agreements |
4.0 |
1,200,000 |
(34,521) |
1,165,479 |
|
— |
— |
— |
Total |
9.1 |
$119,742,000 |
$(10,695,657) |
$109,046,343 |
|
$22,642,000 |
$(7,128,308) |
$15,513,692 |
|
| Schedule of Estimated Aggregate Amortization Expense |
The estimated aggregate amortization expense for each of the next five years is as follows:
|
|
|
|
|
2026 |
|
$ |
16,955,154 |
|
2027 |
|
|
17,155,685 |
|
2028 |
|
|
9,240,205 |
|
2029 |
|
|
9,240,205 |
|
2030 |
|
|
8,980,685 |
|
Thereafter |
|
|
47,474,409 |
|
Total |
|
$ |
109,046,343 |
|
|