Everus Construction Group, Inc.
For the period ended Jun 30, 2025. Filed Aug 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 13, 2025
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4. Goodwill and Other Intangible Assets
Note 4 –Goodwill and Other Intangible Assets
Goodwill
The Company’s carrying amount of goodwill remained unchanged at $143.2 million as of both June 30, 2025 and December 31, 2024. The Company’s reporting units are Electrical & Mechanical, Transmission & Distribution, and Wagner Smith Equipment (“WSE”). WSE is within the Transmission & Distribution reportable segment. Goodwill also remained unchanged for each reportable segment as of both June 30, 2025 and December 31, 2024, with $115.9 million for Electrical & Mechanical and $27.3 million for Transmission & Distribution. No impairments of goodwill were recorded for the three and six months ended June 30, 2025 and 2024.
Other Intangible Assets
Finite-lived intangible assets, which were classified in Other noncurrent assets, were as follows as of:
| June 30, 2025 | December 31, 2024 | |
|---|---|---|
| (In thousands) | ||
| Customer relationships | $6,990 | $10,450 |
| Less: accumulated amortization | (6,990) | (10,334) |
| Net customer relationships | — | 116 |
| Total | $— | $116 |
Amortization expense for finite-lived intangible assets was $0.1 million for the six months ended June 30, 2025. As a result of the finite-lived intangible assets being fully amortized during the first quarter of 2025, there wasno future amortization expense remaining for finite-lived intangible assets.
Amortization expense for finite-lived intangible assets was $0.5 million and $1.0 million for the three and six months ended June 30, 2024, respectively.
Amortization expense is recognized in Selling, general and administrative expenses in the unaudited condensed consolidated statements of income.
No impairments of finite-lived intangible assets were recorded for the three and six months ended June 30, 2025 and 2024.
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