Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

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, 2025	$	192,875	$	164,880	$	57,974	$	52,176	$	467,905
Acquisitions	—		—		—		7,909		7,909
Impact of foreign exchange rates	(84)		—		(280)		(921)		(1,285)
Balance at March 31, 2026	$	192,791	$	164,880	$	57,694	$	59,164	$	474,529

Intangible Assets

The gross carrying amount and accumulated amortization for definite-lived intangible assets were as follows:



	March 31, 2026						December 31, 2025
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	142,845	$	(64,655)	$	78,190	$	141,637	$	(60,640)	$	80,997
Customer relationships	276,258		(137,689)		138,569		274,844		(131,341)		143,503
Other (1)	7,899		(6,547)		1,352		7,894		(6,339)		1,555
Total	$	427,002	$	(208,891)	$	218,111	$	424,375	$	(198,320)	$	226,055

(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)	2026		2025
Amortization expense for intangible assets	$	11,004	$	11,585

The estimated aggregate amortization expense for the remaining year 2026 and each of the next four years and thereafter are as follows:


(in thousands)	Amortization
Remaining 2026	$	33,179
2027	39,072
2028	34,667
2029	31,082
2030	21,278
Thereafter	58,833
Total	$	218,111