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Organization and Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2024
Organization and Summary of Significant Accounting Policies [Abstract] |
Shipping and handling costs associated with outbound freight | The table below presents shipping and handling costs associated with outbound freight, which we include in Selling and administrative expenses (in thousands):
2024 |  | 2023 |  | 2022
$ | 90,268 |  |  | $ | 84,932 |  |  | $ | 89,002 |
Advertising expense | We expense advertising costs when incurred. The table below presents advertising expense for the past three years (in thousands):
2024 |  | 2023 |  | 2022
$ | 25,209 |  |  | $ | 28,532 |  |  | $ | 28,778 |
Fair value measurements | The table below presents our assets and liabilities measured and recorded at fair value on a recurring basis (in thousands):
|  |  |  |  | Fair Value at December 31,
| Input Level |  | Classification |  | 2024 |  | 2023
Assets |  |  |  |  |  |  |
Unrealized gains on interest rate swaps | Level 2 |  | Prepaid expenses and other current assets |  | $ | 734 |  |  | $ | — |
Unrealized gains on interest rate swaps | Level 2 |  | Other assets |  | 19,876 |  |  | 25,752 |
Deferred compensation plan asset | Level 1 |  | Other assets |  | 18,018 |  |  | 15,347 |
Liabilities |  |  |  |  |  |  |
Deferred compensation plan liability | Level 1 |  | Other long-term liabilities |  | $ | 18,018 |  |  | $ | 15,347 |
Summary of changes in allowance for doubtful accounts | The following table summarizes the changes in our allowance for doubtful accounts for the past three years (in thousands):
|  | 2024 |  | 2023 |  | 2022
Balance at beginning of year |  | $ | 11,718 |  |  | $ | 9,522 |  |  | $ | 5,942 |
Bad debt expense |  | 4,187 |  |  | 7,526 |  |  | 7,449 |
Write-offs, net of recoveries |  | (7,312) |  |  | (5,330) |  |  | (3,869) |
Balance at end of year |  | $ | 8,593 |  |  | $ | 11,718 |  |  | $ | 9,522 |
Summary of changes in allowance for inventory obsolescence | The following table summarizes the changes in our reserve for inventory obsolescence for the past three years (in thousands):
|  | 2024 |  | 2023 |  | 2022
Balance at beginning of year |  | $ | 23,464 |  |  | $ | 21,208 |  |  | $ | 15,196 |
Provision for inventory write-downs |  | 10,484 |  |  | 8,483 |  |  | 11,989 |
Deduction for inventory write-offs |  | (7,286) |  |  | (6,227) |  |  | (5,977) |
Balance at end of year |  | $ | 26,662 |  |  | $ | 23,464 |  |  | $ | 21,208 |
Estimated useful lives of property and equipment | We depreciate property and equipment on a straight-line basis over the following estimated useful lives:
Buildings | 40 years
Leasehold improvements (1) | 1 - 10 years
Autos and trucks | 3 - 6 years
Machinery and equipment | 3 - 15 years
Computer equipment | 3 - 7 years
Furniture and fixtures | 5 - 10 years
(1)For substantial improvements made near the end of a lease term where we are reasonably certain the lease will be renewed, we amortize the leasehold improvement over the remaining life of the lease including the expected renewal period.
Depreciation expense | The table below presents depreciation expense for the past three years (in thousands):
2024 |  | 2023 |  | 2022
$ | 36,784 |  |  | $ | 31,585 |  |  | $ | 30,381 |
Accumulated other comprehensive loss | The table below presents the components of our Accumulated other comprehensive (loss) income balance (in thousands):
| December 31,
| 2024 |  | 2023
Foreign currency translation adjustments | $ | (29,088) |  |  | $ | (12,699) |
Unrealized gains on interest rate swaps, net of tax | 15,424 |  |  | 19,281 |
Accumulated other comprehensive (loss) income | $ | (13,664) |  |  | $ | 6,582 |
Supplemental disclosures to Consolidated Statements of Cash Flows | The following table presents supplemental disclosures to the accompanying Consolidated Statements of Cash Flows (in thousands):
| Year Ended December 31,
| 2024 |  | 2023 |  | 2022
Cash paid during the year for: |  |  |  |  |
Interest | $ | 51,046 |  |  | $ | 58,131 |  |  | $ | 39,759 |
Income taxes, net of refunds | 42,990 |  |  | 153,157 |  |  | 314,714 |
In 2024, cash paid for income taxes was lower due to a $68.5 million deferral of our third and fourth quarter estimated tax payments, subsequently paid in February 2025, as allowed for companies impacted by Hurricane Francine.
Schedule of recent accounting pronouncements pending adoption | The following table summarizes the remaining recent accounting pronouncements that we plan to adopt in future periods:
Standard | Description | Effective Date | Effect on Financial Statements and Other Significant Matters
ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses | In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which introduces new disclosure requirements for public business entities to provide more detailed information about specific natural expense categories within their income statements. | For annual periods beginning after December 15, 2026, and interim periods within those annual periods beginning after December 15, 2027. The ASU may be adopted on a prospective or retrospective basis with early adoption permitted. | We are currently evaluating the effect this standard will have on our disclosures.
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures | In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which will require enhancements and further transparency for decision usefulness to various income tax disclosures, most notably the tax rate reconciliation and income taxes paid. | Annual periods beginning after December 15, 2024 on a prospective basis and retrospective application is permitted. Early adoption is also permitted. | We expect that the adoption of this standard will expand our disclosures and do not expect the adoption of this standard will have a material impact on our consolidated financial statements.
ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative | In October 2023, the FASB issued ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets. | The amendments in ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. | We do not expect the adoption of this standard to have a material impact on our consolidated financial statements since we are already subject to the requirements under Regulation S-X and Regulation S-K.

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