The table below summarizes the changes in the Company’s goodwill balances:


	Total Goodwill
	(in thousands)
Balance at January 1, 2025	$	225,146
Acquisitions		127,367
Impairments		—
Balance at December 31, 2025		352,513
Acquisitions		199,243
Impairments		—
Foreign Currency Translation		(1,118	)
Balance at September 30, 2026	$	550,638

The table below summarizes the carrying amounts of the Company’s identifiable intangible assets as of September 30, 2026 and December 31, 2025, respectively:


			As of September 30, 2026							As of December 31, 2025
	Weighted Average Amortization Period		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(in years)		(in thousands)
Trade Names (3.0 years)		3.0	$	2,000	$	(444	)	$	1,556	$	—	$	—		$	—
Patents (9 years)		9.0		2,722		(1,303	)		1,419		2,722		(1,076	)		1,646
Know-How (7.0 - 15.0 years)		10.2		40,324		(4,359	)		35,965		15,686		(1,841	)		13,845
Customer Backlogs (0.8 - 7.5 years)		3.2		75,233		(49,582	)		25,651		47,750		(39,782	)		7,968
Customer Relationships (10.0 - 19.0 years)		16.6		359,852		(86,466	)		273,386		333,300		(70,871	)		262,429
Customer Contracts (8.0 years)		8.0		17,500		(1,458	)		16,042		—		—			—
Total Intangible Assets			$	497,631	$	(143,612	)	$	354,019	$	399,458	$	(113,570	)	$	285,888

Amortization expense was $9.9 million and $6.0 million for the three months ended September 30, 2026 and 2025, respectively, which was recorded in general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income.

Amortization expense was $30.0 million and $15.9 million for the nine months ended September 30, 2026 and 2025, respectively, which was recorded in general and administrative expenses in the accompanying condensed consolidated statements of operations and comprehensive income.