Company: EME
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000105634-25-000015
Chunk: 119

Company: EMCOR Group, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 8
Chunk 119
---
: (a) estimating reasonable royalty rates for each trade name and (b) applying these royalty rates to a net revenue stream and discounting the resulting cash flows to determine fair value. This fair value is then compared with the carrying value of each trade name. If the carrying amount of the trade name is greater than the implied fair value of the trade name, an impairment in the amount of the excess is recognized and charged to operations. For each of the years ended December 31, 2024, 2023, and 2022, no impairment of our indefinite-lived trade name intangible assets was recognized.

56

Table of ContentsEMCOR Group, Inc. and SubsidiariesNOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 8 - GOODWILL, IDENTIFIABLE INTANGIBLE ASSETS, AND OTHER LONG-LIVED ASSETS (Continued)We review for impairment of identifiable intangible assets that are being amortized as well as other long-lived assets whenever facts and circumstances indicate that their carrying values may not be fully recoverable. This test compares their carrying values to the undiscounted pre-tax cash flows expected to result from the use of the assets. If the assets are impaired, the assets are written down to their fair values, generally determined based on their discounted estimated future cash flows. In 2023, we identified facts and circumstances that indicated the carrying values of certain long-lived assets within our United States mechanical construction and facilities services segment may not be fully recoverable. As a result, we determined that these assets were impaired, and recognized a $2.4 million impairment charge. For the years ended December 31, 2024, 2023, and 2022, there were no other indicators of impairment with respect to identifiable intangible assets that are being amortized as well as other long-lived assets. Identifiable intangible assets as of December 31, 2024 and 2023 consisted of the following (in thousands):   December 31, 2024 GrossCarryingAmountAccumulatedAmortizationAccumulatedImpairmentCharge TotalCustomer relationships$902,216 $(543,913)$(4,834)$353,469 Trade names (indefinite-lived)330,271 — (58,933)271,338 Developed technology/Vendor network95,661 (83,338)— 12,323 Trade names (finite-lived)38,491 (30,026