v3.26.1
Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Goodwill and Other Intangible Assets
Note 9—Goodwill and Other Intangible Assets

Goodwill

Goodwill represents the excess of the purchase price over the fair value of net assets of acquired businesses. Goodwill is not amortized but is evaluated for impairment on an annual basis or more frequently if impairment indicators arise. No goodwill impairment was recognized during either the three or six months ended June 30, 2026 and 2025.

The following table sets forth the changes to goodwill during the six months ended June 30, 2026.
December 31, 2025AcquisitionJune 30, 2026
Environmental Services$46,645 $6,007 $52,652 
Dietary33,152 — 33,152 
Total Goodwill$79,797 $6,007 $85,804 

Intangible Assets

The Company’s other intangible assets consist of customer relationships, trade names, patents and non-compete agreements which were obtained through acquisitions and are recorded at their fair values at the date of acquisition. Intangible assets with determinable lives are amortized on a straight-line basis over their estimated useful lives. The weighted-average amortization period of customer relationships, trade names, patents and non-compete agreements are approximately 10 years, 10 years, 4 years and 5 years, respectively.

In connection with an acquisition completed in 2026, the Company recorded the following intangible assets:

Intangible AssetsAmortization Period
(in thousands)
Customer relationships$5,753 12 years
Trade names1,628 10 years
Non-compete agreements238 5 years
Total$7,619 

The following table sets forth the estimated amortization expense for intangibles subject to amortization for the remainder of 2026, the following five fiscal years and thereafter:

Period/YearTotal Amortization Expense
(in thousands)
July 1 to December 31, 2026$1,641 
2027$1,817 
2028$1,235 
2029$1,235 
2030$1,235 
2031$1,197 
Thereafter$4,752 

Amortization expense for the three months ended June 30, 2026 and 2025 was $0.8 million and $1.8 million. Amortization expense for the six months ended June 30, 2026 and 2025 was $1.5 million and $2.4 million, respectively.