Goodwill and Intangible Assets (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Schedule of Changes in the Carrying Value of Goodwill by Segment |
The following is a summary of changes in the carrying value of Goodwill by segment (in thousands): | | | | | | | | | | | | | | | | | | | Carrying value of Goodwill | Engineering & Consulting | | Installation & Maintenance | | Total | Balance, December 31, 2025 | $ | 412,987 | | | $ | 351,349 | | | $ | 764,336 | | | Acquisitions | 5,425 | | | 72,197 | | | 77,622 | | Balance, March 31, 2026 | $ | 418,412 | | | $ | 423,546 | | | $ | 841,958 | | | | | | | | | Accumulated goodwill impairment | | | | | | Balance, December 31, 2025 | $ | 47,821 | | | $ | 47,407 | | | $ | 95,228 | | Balance, March 31, 2026 | $ | 47,821 | | | $ | 47,407 | | | $ | 95,228 | | | | | | | | | | | | | | | | | | | | | | | | | |
|
| Schedule of Identifiable Intangible Assets |
The Company’s identifiable intangible assets consist of the following (in thousands, except weighted-average remaining lives): | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Weighted-average Remaining Life
(in years) | | Customer relationships | $ | 877,398 | | | $ | (227,785) | | | $ | 649,613 | | | 8.7 | | Trade names | 227,028 | | | (86,545) | | | 140,483 | | | 6.1 | | Contract backlog | 60,770 | | | (7,600) | | | 53,170 | | | 1.7 | | $ | 1,165,196 | | | $ | (321,930) | | | $ | 843,266 | | | |
| | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2025 | | Gross Carrying Amount | | Accumulated Amortization | | Net Carrying Amount | | Weighted-average Remaining Life
(in years) | | Customer relationships | $ | 658,798 | | | $ | (209,054) | | | $ | 449,744 | | | 8.3 | | Trade names | 180,428 | | | (80,068) | | | 100,360 | | | 5.4 | | Contract backlog | 1,570 | | | (254) | | | 1,316 | | | 1.4 | | $ | 840,796 | | | $ | (289,376) | | | $ | 551,420 | | | |
|
| Schedule of Future Amortization of Intangible Assets |
Future amortization of intangible assets as of March 31, 2026 was as follows (in thousands): | | | | | | Year ended December 31: | | | 2026 (nine months remaining) | $ | 99,394 | | | 2027 | 128,196 | | | 2028 | 98,604 | | | 2029 | 98,270 | | | 2030 | 97,007 | | | Thereafter | 321,795 | | | $ | 843,266 | |
|