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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 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, 2022 |  | $ | 155,773 |  |  | $ | 114,104 |  |  | $ | 55,421 |  |  | $ | 22,750 |  |  | $ | 348,048 |
Acquisitions |  | — |  |  | 50,886 |  |  | — |  |  | — |  |  | 50,886 |
Impact of foreign exchange rates |  | 142 |  |  | — |  |  | 322 |  |  | 527 |  |  | 991 |
Balance at December 31, 2023 |  | 155,915 |  |  | 164,990 |  |  | 55,743 |  |  | 23,277 |  |  | 399,925 |
Acquisitions(1) |  | 37,177 |  |  | (110) |  |  | 1,372 |  |  | 28,942 |  |  | 67,381 |
Impact of foreign exchange rates |  | (494) |  |  | — |  |  | (773) |  |  | (3,250) |  |  | (4,517) |
Balance at December 31, 2024 |  | $ | 192,598 |  |  | $ | 164,880 |  |  | $ | 56,342 |  |  | $ | 48,969 |  |  | $ | 462,789 |
(1) Refer to Note 3 – Business and Asset 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:
| December 31, 2024 |  | December 31, 2023
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Trade names | $ | 141,654 |  |  | $ | (45,386) |  |  | $ | 96,268 |  |  | $ | 117,881 |  |  | $ | (30,093) |  |  | $ | 87,788 |
Customer relationships | 272,051 |  |  | (100,867) |  |  | 171,184 |  |  | 233,513 |  |  | (71,215) |  |  | 162,298 |
Other (1) | 8,310 |  |  | (5,999) |  |  | 2,311 |  |  | 8,011 |  |  | (4,263) |  |  | 3,748 |
Total | $ | 422,015 |  |  | $ | (152,252) |  |  | $ | 269,763 |  |  | $ | 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 Consolidated Statements of Operations and Comprehensive Income (Loss) as follows:
| Year Ended December 31,
(in thousands) | 2024 |  | 2023 |  | 2022
Amortization expense for intangible assets | $ | 47,483 |  |  | $ | 40,263 |  |  | $ | 29,097 |
The remaining weighted-average useful lives of intangible assets as of December 31, 2024 was 3.6 years for trade names and 5.2 years for customer relationships. The estimated aggregate amortization expense for each of the next five years and thereafter are as follows:
(in thousands) |  | Amortization
2025 |  | $ | 46,224 |
2026 |  | 43,188 |
2027 |  | 38,139 |
2028 |  | 33,878 |
2029 |  | 30,331 |
Thereafter |  | 78,003 |
Total |  | $ | 269,763 |

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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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