| Schedule of Gross Amount and Accumulated Amortization of Intangible Assets |
The gross amount and accumulated amortization of acquired identifiable intangible assets included in “Intangible assets, net” on the consolidated balance sheets were as follows (in thousands except for years):
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December 31, 2024 |
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December 31, 2023 |
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|
Weighted
Average |
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|
Gross
Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net
Carrying
Amount |
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|
Gross
Carrying
Amount |
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Accumulated
Amortization |
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Net
Carrying
Amount |
|
|
Amortization
Period
(in years) |
|
Backlog |
|
$ |
142,100 |
|
|
$ |
(51,322 |
) |
|
$ |
90,778 |
|
|
$ |
130,000 |
|
|
$ |
(45,964 |
) |
|
$ |
84,036 |
|
|
|
4.5 |
|
Customer relationships |
|
|
372,930 |
|
|
|
(139,568 |
) |
|
|
233,362 |
|
|
|
297,120 |
|
|
|
(124,194 |
) |
|
|
172,926 |
|
|
|
11.6 |
|
Leases |
|
|
- |
|
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|
- |
|
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|
- |
|
|
|
120 |
|
|
|
(106 |
) |
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|
14 |
|
|
|
- |
|
Developed technology |
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23,200 |
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|
|
(7,458 |
) |
|
|
15,742 |
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31,600 |
|
|
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(15,823 |
) |
|
|
15,777 |
|
|
|
4.6 |
|
Trade name |
|
|
1,500 |
|
|
|
(367 |
) |
|
|
1,133 |
|
|
|
1,000 |
|
|
|
(417 |
) |
|
|
583 |
|
|
|
1.0 |
|
Non-compete agreements |
|
|
8,300 |
|
|
|
(1,203 |
) |
|
|
7,097 |
|
|
|
1,500 |
|
|
|
(1,097 |
) |
|
|
403 |
|
|
|
3.0 |
|
In process research and development |
|
|
1,800 |
|
|
|
- |
|
|
|
1,800 |
|
|
|
1,800 |
|
|
|
- |
|
|
|
1,800 |
|
|
n/a |
|
Other intangibles |
|
|
25 |
|
|
|
- |
|
|
|
25 |
|
|
|
375 |
|
|
|
(348 |
) |
|
|
27 |
|
|
n/a |
|
Total intangible assets |
|
$ |
549,855 |
|
|
$ |
(199,918 |
) |
|
$ |
349,937 |
|
|
$ |
463,515 |
|
|
$ |
(187,949 |
) |
|
$ |
275,566 |
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|
| Schedule of Estimated Amortization Expense |
Estimated amortization expense in each of the next five years and beyond is as follows (in thousands):
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|
|
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December 31, 2024 |
|
2025 |
|
$ |
64,871 |
|
2026 |
|
|
57,313 |
|
2027 |
|
|
50,759 |
|
2028 |
|
|
36,871 |
|
2029 |
|
|
22,659 |
|
Thereafter |
|
|
115,639 |
|
Total |
|
$ |
348,112 |
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|