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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 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 |  | Canada Branch Division |  | Total
Balance at December 31, 2023 |  | $ | 155,915 |  |  | $ | 164,990 |  |  | $ | 55,743 |  |  | $ | 23,277 |  |  | $ | 399,925 |
Acquisitions(1) |  | 37,083 |  |  | (110) |  |  | — |  |  | 30,518 |  |  | 67,491 |
Impact of foreign exchange rates |  | (141) |  |  | — |  |  | 172 |  |  | (127) |  |  | (96) |
Balance at September 30, 2024 |  | $ | 192,857 |  |  | $ | 164,880 |  |  | $ | 55,915 |  |  | $ | 53,668 |  |  | $ | 467,320 |
(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:
| September 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 | $ | 141,323 |  |  | $ | (41,435) |  |  | $ | 99,888 |  |  | $ | 117,881 |  |  | $ | (30,093) |  |  | $ | 87,788 |
Customer relationships | 270,933 |  |  | (93,577) |  |  | 177,356 |  |  | 233,513 |  |  | (71,215) |  |  | 162,298 |
Other (1) | 8,296 |  |  | (5,768) |  |  | 2,528 |  |  | 8,011 |  |  | (4,263) |  |  | 3,748 |
Total | $ | 420,552 |  |  | $ | (140,780) |  |  | $ | 279,772 |  |  | $ | 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 September 30, |  | Nine Months Ended September 30,
(in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Amortization expense for intangible assets | $ | 11,972 |  |  | $ | 11,308 |  |  | $ | 34,924 |  |  | $ | 29,865 |
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 |  | $ | 12,280 |
2025 |  | 45,770 |
2026 |  | 42,902 |
2027 |  | 37,971 |
2028 |  | 33,770 |
Thereafter |  | 107,079 |
Total |  | $ | 279,772 |

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- 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
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