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GOODWILL AND INTANGIBLE ASSETS (Tables) | 9 Months Ended
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Oct. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Changes in the carrying amount of goodwill for the nine months ended October 1, 2023 by segment are as follows:
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Balance - December 31, 2022 |  | $ | 558,362 |  |  | $ | 70,901 |  |  | $ | 629,263 |
Acquisitions |  | — |  |  | 5,905 |  |  | 5,905 |
Adjustments to preliminary purchase price allocations |  | 2,008 |  |  | 217 |  |  | 2,225 |
Balance - October 1, 2023 |  | $ | 560,370 |  |  | $ | 77,023 |  |  | $ | 637,393 |
Schedule of Intangible Assets, Net | Intangible assets, net consist of the following as of October 1, 2023 and December 31, 2022:
($ in thousands) |  | October 1, 2023 |  | December 31, 2022
Customer relationships |  | $ | 729,764 |  |  | $ | 722,503 |
Non-compete agreements |  | 21,561 |  |  | 20,412 |
Patents |  | 69,310 |  |  | 69,164 |
Trademarks |  | 197,027 |  |  | 195,957 |
Intangible assets, gross |  | 1,017,662 |  |  | 1,008,036 |
Less: accumulated amortization |  | (346,899) |  |  | (287,806) |
Intangible assets, net |  | $ | 670,763 |  |  | $ | 720,230 |
Schedule of Changes in Intangible Assets | Changes in the carrying value of intangible assets for the nine months ended October 1, 2023 by segment are as follows:
($ in thousands) |  | Manufacturing |  | Distribution |  | Total
Balance - December 31, 2022 |  | $ | 622,647 |  |  | $ | 97,583 |  |  | $ | 720,230 |
Additions |  | 2,970 |  |  | 11,100 |  |  | 14,070 |
Amortization |  | (50,905) |  |  | (8,188) |  |  | (59,093) |
Adjustments to preliminary purchase price allocations |  | (4,359) |  |  | (85) |  |  | (4,444) |
Balance - October 1, 2023 |  | $ | 570,353 |  |  | $ | 100,410 |  |  | $ | 670,763 |

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