v3.26.3
Goodwill and Other Intangible Assets
9 Months Ended
Sep. 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 nine months ended September 30, 2026 and 2025.

The following table sets forth the changes to goodwill during the nine months ended September 30, 2026.
December 31, 2025AcquisitionsSeptember 30, 2026
Environmental Services$46,645 $10,659 $57,304 
Dietary33,152 — 33,152 
Total Goodwill$79,797 $10,659 $90,456 

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 11 years, 10 years, 4 years and 4 years, respectively.

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

Intangible AssetsWeighted-average amortization period
(in thousands)
Customer relationships$8,783 11.3 years
Trade names2,918 10.9 years
Non-compete agreements528 4.5 years
Total$12,229 
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)
October to December 31, 2026$941 
2027$2,302 
2028$1,719 
2029$1,718 
2030$1,694 
2031$1,609 
Thereafter$6,877 

Amortization expense for the three months ended September 30, 2026 and 2025 was $0.9 million and $0.7 million. Amortization expense for the nine months ended September 30, 2026 and 2025 was $2.3 million and $3.1 million, respectively.