The Company’s goodwill balance was $1,457.1 million and $1,443.4 million as of May 2, 2026 and January 31, 2026, respectively. Changes in the carrying amount of goodwill consisted of the following (dollars in thousands):


	Communications		Building Systems		Total
Balance as of January 31, 2026	$	332,645	$	1,110,790	$	1,443,435

Goodwill adjustment from fiscal 2026 acquisitions	—		13,642		13,642
Balance as of May 2, 2026	$	332,645	$	1,124,432	$	1,457,077

The Company’s goodwill resides in multiple reporting units and primarily consists of expected synergies, together with the expansion of our geographic presence and service offerings, and the strengthening and expansion of our customer base from acquisitions. The profitability of individual reporting units may suffer periodically due to downturns in customer demand, increased costs of providing services, and the level of overall economic activity. Our customers may reduce capital expenditures and defer or cancel pending projects due to changes in technology, a slowing or uncertain economy, merger or acquisition activity, a decision to allocate resources to other areas of their business, or other reasons. The profitability of reporting units may also suffer if actual costs of providing services exceed the costs anticipated when the Company enters into contracts. Additionally, adverse conditions in the economy and future volatility in the equity and credit markets could impact the valuation of our reporting units. The cyclical nature of our business, the high level of competition existing within our industry, and the concentration of our revenues from a limited number of customers may also cause results to vary. These factors may affect individual reporting units disproportionately, relative to the Company as a whole. As a result, the performance of one or more of the reporting units could decline, resulting in an impairment of goodwill or intangible assets.

The Company performs its annual goodwill assessment as of the first day of the fourth fiscal quarter of each fiscal year. As a result of the Company’s fiscal 2026 period assessment, the Company determined that the fair values of each of the reporting units and the indefinite-lived intangible asset were in excess of their carrying values and no impairment had occurred. As of May 2, 2026, we believe the carrying amounts of goodwill and the indefinite-lived intangible asset are recoverable for all of our reporting units.

Our intangible assets consisted of the following (dollars in thousands):


	May 2, 2026							January 31, 2026
	Weighted Average Remaining Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net		Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net
Customer relationships	13.4	$	1,032,417	$	330,753	$	701,664	$	1,032,417	$	306,094	$	726,323
Trade names, finite	13.9	54,080		10,989		43,091		54,080		10,178		43,902
Trade name, indefinite	Indefinite	4,700		—		4,700		4,700		—		4,700
Contract backlog	1.1	192,900		74,724		118,176		192,900		41,903		150,997
Non-compete agreements	1.5	75		52		23		75		49		26
		$	1,284,172	$	416,518	$	867,654	$	1,284,172	$	358,224	$	925,948

Amortization of our customer relationship intangibles and our backlog intangibles are recognized on an accelerated basis as a function of the expected economic benefit. Amortization of our other finite-lived intangibles is recognized on a straight-line basis over the estimated useful life. Amortization expense for finite-lived intangible assets was $58.3 million and $12.0 million for the three months ended May 2, 2026 and April 26, 2025, respectively.

As of May 2, 2026, we believe that the carrying amounts of our intangible assets are recoverable. However, if adverse events were to occur or circumstances were to change indicating that the carrying amount of such assets may not be fully recoverable, the assets would be reviewed for impairment and the assets could be impaired.