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v3.23.2

Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Note 6 – Goodwill and Intangible Assets Goodwill Changes in the carrying amount of goodwill by segment were as follows:
(in thousands) |  | Lawson |  | TestEquity |  | Gexpro Services |  | All Other |  | Total
Balance at December 31, 2022 |  | $ | 155,773 |  |  | $ | 114,104 |  |  | $ | 55,421 |  |  | $ | 22,750 |  |  | $ | 348,048 |
Acquisitions |  | — |  |  | 49,718 |  |  | — |  |  | — |  |  | 49,718 |
Impact of foreign exchange rates |  | 142 |  |  | — |  |  | 228 |  |  | 527 |  |  | 897 |
Balance at June 30, 2023 |  | $ | 155,915 |  |  | $ | 163,822 |  |  | $ | 55,649 |  |  | $ | 23,277 |  |  | $ | 398,663 |
Intangible Assets The gross carrying amount and accumulated amortization for definite-lived intangible assets were as follows:
| June 30, 2023 |  | December 31, 2022
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Trade names | $ | 118,123 |  |  | $ | (23,067) |  |  | $ | 95,056 |  |  | $ | 92,286 |  |  | $ | (17,401) |  |  | $ | 74,885 |
Customer relationships | 235,218 |  |  | (56,889) |  |  | 178,329 |  |  | 192,934 |  |  | (44,481) |  |  | 148,453 |
Other (1) | 7,942 |  |  | (3,790) |  |  | 4,152 |  |  | 7,961 |  |  | (3,305) |  |  | 4,656 |
Total | $ | 361,283 |  |  | $ | (83,746) |  |  | $ | 277,537 |  |  | $ | 293,181 |  |  | $ | (65,187) |  |  | $ | 227,994 |
(1) Other primarily consists of non-compete agreements. Amortization expense for definite-lived intangible assets was $9.4 million and $18.6 million for the three and six months ended June 30, 2023, respectively, and $9.9 million and $15.3 million for the three and six months ended June 30, 2022, respectively. Amortization expense related to intangible assets was recorded in Selling, general and administrative expenses. The estimated aggregate amortization expense for the remaining year 2023 and each of the next five years are as follows:
(in thousands) |  | Amortization
Remaining 2023 |  | $ | 20,931 |
2024 |  | 43,022 |
2025 |  | 39,328 |
2026 |  | 36,330 |
2027 |  | 31,446 |
2028 |  | 27,502 |
Thereafter |  | 78,978 |
Total |  | $ | 277,537 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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