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GOODWILL AND INTANGIBLE ASSETS (Tables) | 12 Months Ended
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Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | The following table sets forth the changes in the carrying value of goodwill by reportable segment for the periods presented:
| EES |  | CSS |  | UBS |  | Total
(In thousands) |  |  |  |  |  |  |
Balance as of January 1, 2021 | $ | 853,456 |  |  | $ | 1,115,500 |  |  | $ | 1,218,213 |  |  | $ | 3,187,169 |
Adjustments to goodwill for acquisitions(1) | 1,124 |  |  | 8,603 |  |  | 4,215 |  |  | 13,942 |
Foreign currency exchange rate changes and other | 6,378 |  |  | (2,391) |  |  | 3,235 |  |  | 7,222 |
Balance as of December 31, 2021 | $ | 860,958 |  |  | $ | 1,121,712 |  |  | $ | 1,225,663 |  |  | $ | 3,208,333 |
Adjustments to goodwill for acquisitions(2) | — |  |  | 97,426 |  |  | — |  |  | 97,426 |
Foreign currency exchange rate changes | (35,459) |  |  | (10,241) |  |  | (19,128) |  |  | (64,828) |
Balance as of December 31, 2022 | $ | 825,499 |  |  | $ | 1,208,897 |  |  | $ | 1,206,535 |  |  | $ | 3,240,931 |
(1) Reflects the effect on goodwill of the adjustments to the assets acquired and liabilities assumed in the merger with Anixter since their initial measurement, as described in Note 6, “Acquisitions and Disposals”. (2) Adjustments to goodwill reflect the preliminary allocation of the purchase price paid to acquire Rahi Systems, as disclosed in Note 6, “Acquisitions and Disposals”, which is part of the CSS segment.
Schedule of Intangible Assets by Major Class | The components of intangible assets are as follows:
|  |  | December 31, 2022 |  | December 31, 2021
| Life (in years) |  | Gross Carrying Amount (1) |  | Accumulated Amortization (1) |  | Net Carrying Amount |  | Gross Carrying Amount (1) |  | Accumulated Amortization (1) |  | Net Carrying Amount
|  |  | (In thousands)
Intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Trademarks | Indefinite |  | $ | 792,080 |  |  | $ | — |  |  | $ | 792,080 |  |  | $ | 795,065 |  |  | $ | — |  |  | $ | 795,065 |
Customer relationships | 10 - 20 |  | 1,515,994 |  |  | (377,645) |  |  | 1,138,349 |  |  | 1,431,251 |  |  | (308,180) |  |  | 1,123,071 |
Distribution agreements | 15 - 19 |  | 29,212 |  |  | (24,388) |  |  | 4,824 |  |  | 29,212 |  |  | (22,714) |  |  | 6,498 |
Trademarks | 5 - 12 |  | 15,543 |  |  | (7,396) |  |  | 8,147 |  |  | 38,758 |  |  | (20,058) |  |  | 18,700 |
Non-compete agreements | 2 |  | — |  |  | — |  |  | — |  |  | 4,300 |  |  | (3,493) |  |  | 807 |
|  |  | $ | 2,352,829 |  |  | $ | (409,429) |  |  | $ | 1,943,400 |  |  | $ | 2,298,586 |  |  | $ | (354,445) |  |  | $ | 1,944,141 |
(1)Excludes the original cost and related accumulated amortization of fully-amortized intangible assets.
Schedule of Expected Amortization Expense | The following table sets forth the remaining estimated amortization expense for intangible assets for the next five years and thereafter:
For the year ending December 31, | (In thousands)
2023 | $ | 88,498 |
2024 | 86,088 |
2025 | 83,015 |
2026 | 77,663 |
2027 | 74,769 |
Thereafter | 741,287 |

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