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Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Activity Related to Acquisitions

Goodwill activity related to acquisitions is included in the table below:


	(Dollars in Thousands)
	Goodwill By Reportable Segment
	Lawson		Bolt		Total
Beginning balance January 1, 2020	$	7,369	$	13,554	$	20,923
Impact of foreign exchange	85		270		355
Acquisition (1)	15,816		—		15,816
Impairment (2)	(1,918)		—		(1,918)
Balance at December 31, 2020	21,352		13,824		35,176

Impact of foreign exchange	32		105		137
Balance at December 31, 2021	$	21,384	$	13,929	$	35,313

(1) The $15.8 million addition to goodwill in 2020 was due to the allocation of the purchase price from the Partsmaster acquisition.

(2) The Company performed a quantitative goodwill impairment analysis as of December 1, 2020 for the Screw Products reporting unit. The Company engaged a third party valuation firm to determine the value of the Screw Products reporting unit, and determined that the carrying value of the net assets exceeded the fair value of the reporting unit, and accordingly, recognized an impairment charge of $1.9 million. The goodwill related to the Screw Products reporting unit was fully impaired in 2020.