XML 206 R15.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2024
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, 2023 |  | $ | 155,915 |  |  | $ | 164,990 |  |  | $ | 55,743 |  |  | $ | 23,277 |  |  | $ | 399,925 |
Acquisitions(1) |  | 29,765 |  |  | (110) |  |  | — |  |  | — |  |  | 29,655 |
Impact of foreign exchange rates |  | (198) |  |  | — |  |  | (336) |  |  | (738) |  |  | (1,272) |
Balance at June 30, 2024 |  | $ | 185,482 |  |  | $ | 164,880 |  |  | $ | 55,407 |  |  | $ | 22,539 |  |  | $ | 428,308 |
(1) Refer to Note 3 – Business Acquisitions for information related to measurement period adjustments. Intangible Assets The gross carrying amount and accumulated amortization for definite-lived intangible assets were as follows:
| June 30, 2024 |  | December 31, 2023
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Trade names | $ | 131,141 |  |  | $ | (37,281) |  |  | $ | 93,860 |  |  | $ | 117,881 |  |  | $ | (30,093) |  |  | $ | 87,788 |
Customer relationships | 265,825 |  |  | (85,551) |  |  | 180,274 |  |  | 233,513 |  |  | (71,215) |  |  | 162,298 |
Other (1) | 8,295 |  |  | (5,533) |  |  | 2,762 |  |  | 8,011 |  |  | (4,263) |  |  | 3,748 |
Total | $ | 405,261 |  |  | $ | (128,365) |  |  | $ | 276,896 |  |  | $ | 359,405 |  |  | $ | (105,571) |  |  | $ | 253,834 |
(1) Other primarily consists of non-compete agreements. Amortization expense for definite-lived intangible assets is included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as follows:
| Three Months Ended June 30, |  | Six Months Ended June 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Amortization expense for intangible assets | $ | 12,206 |  |  | $ | 9,406 |  |  | $ | 22,954 |  |  | $ | 18,557 |
The estimated aggregate amortization expense for the remaining year 2024 and each of the next four years and thereafter are as follows:
(in thousands) |  | Amortization
Remaining 2024 |  | $ | 24,453 |
2025 |  | 44,838 |
2026 |  | 41,321 |
2027 |  | 36,016 |
2028 |  | 31,525 |
Thereafter |  | 98,743 |
Total |  | $ | 276,896 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration