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v3.25.1

Goodwill and Intangible Assets | 3 Months Ended
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Mar. 31, 2025
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, 2024 |  | $ | 192,598 |  |  | $ | 164,880 |  |  | $ | 56,342 |  |  | $ | 48,969 |  |  | $ | 462,789 |
Acquisitions(1) |  | — |  |  | — |  |  | (25) |  |  | 871 |  |  | 846 |
Impact of foreign exchange rates |  | (2) |  |  | — |  |  | 523 |  |  | (58) |  |  | 463 |
Balance at March 31, 2025 |  | $ | 192,596 |  |  | $ | 164,880 |  |  | $ | 56,840 |  |  | $ | 49,782 |  |  | $ | 464,098 |
(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:
| March 31, 2025 |  | December 31, 2024
(in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Value
Trade names | $ | 140,291 |  |  | $ | (47,897) |  |  | $ | 92,394 |  |  | $ | 141,654 |  |  | $ | (45,386) |  |  | $ | 96,268 |
Customer relationships | 272,655 |  |  | (108,480) |  |  | 164,175 |  |  | 272,051 |  |  | (100,867) |  |  | 171,184 |
Other (1) | 7,823 |  |  | (5,712) |  |  | 2,111 |  |  | 8,310 |  |  | (5,999) |  |  | 2,311 |
Total | $ | 420,769 |  |  | $ | (162,089) |  |  | $ | 258,680 |  |  | $ | 422,015 |  |  | $ | (152,252) |  |  | $ | 269,763 |
(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 March 31, |  |
(in thousands) | 2025 |  | 2024 |  |  |  |
Amortization expense for intangible assets | $ | 11,585 |  |  | $ | 10,746 |  |  |  |  |
The estimated aggregate amortization expense for the remaining year 2025 and each of the next four years and thereafter are as follows:
(in thousands) |  | Amortization
Remaining 2025 |  | $ | 34,789 |
2026 |  | 43,264 |
2027 |  | 38,224 |
2028 |  | 33,952 |
2029 |  | 30,355 |
Thereafter |  | 78,096 |
Total |  | $ | 258,680 |

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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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