Goodwill and Other Intangible Assets |
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| 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.
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:
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:
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.
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