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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | 4. Goodwill and Other Intangible Assets Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. The following table summarizes the changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2023 and 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Distribution | ​ | Solutions | ​ | Consolidated
Balance January 1, 2022 | ​ | $ | 8,141 | ​ | $ | 9,047 | ​ | $ | 17,188
Goodwill acquired | ​ | ​ | 3,244 | ​ | ​ | — | ​ | ​ | 3,244
Translation adjustments | ​ | ​ | (703) | ​ | ​ | (766) | ​ | ​ | (1,469)
Balance December 31, 2022 | ​ | $ | 10,682 | ​ | $ | 8,281 | ​ | $ | 18,963
Goodwill acquired | ​ | ​ | 7,143 | ​ | ​ | — | ​ | ​ | 7,143
Translation adjustments | ​ | ​ | 833 | ​ | ​ | 243 | ​ | ​ | 1,076
Balance December 31, 2023 | ​ | $ | 18,658 | ​ | $ | 8,524 | ​ | $ | 27,182
​ Information related to the Company’s other intangibles, net is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2023
​ | ​ | Gross Carrying Amount | ​ | Accumulated Amortization | ​ | Net Carrying Amount
Customer and vendor relationships | ​ | $ | 30,968 | ​ | ​ | 4,424 | ​ | $ | 26,544
Trade name | ​ | ​ | 489 | ​ | ​ | 103 | ​ | ​ | 386
Total | ​ | $ | 31,457 | ​ | $ | 4,527 | ​ | $ | 26,930
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2022
​ | ​ | Gross Carrying Amount | ​ | Accumulated Amortization | ​ | Net Carrying Amount
Customer and vendor relationships | ​ | $ | 21,457 | ​ | $ | 2,165 | ​ | $ | 19,292
Trade name | ​ | ​ | 468 | ​ | ​ | 67 | ​ | ​ | 401
Total | ​ | $ | 21,925 | ​ | $ | 2,232 | ​ | $ | 19,693
​ Customer relationships are amortized over thirteen years. Vendor relationships are amortized between eight and fifteen years. Trade name is amortized over fifteen years. The Company recognized total amortization expense for other intangibles, net of $2.2 million and $1.2 million during the years ended December 31, 2023 and 2022, respectively. Estimated future amortization expense of the Company’s other intangibles, net as of December 31, 2023 is as follows: ​
​ | ​ | ​ | ​
2024 |  | $ | 3,037
2025 | ​ |  | 3,037
2026 | ​ |  | 3,037
2027 | ​ |  | 3,037
2028 | ​ |  | 3,037
Thereafter | ​ |  | 11,745
Total | ​ | $ | 26,930
​

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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