GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The changes in the carrying amount of goodwill were as follows (in thousands):

Balance as of December 31, 2021	$	80,318
Additions through acquisitions	4,692
Measurement period adjustments related to prior acquisitions	(1,550)
Balance as of December 31, 2022	83,460
Additions through acquisitions	5,479
Measurement period adjustments related to prior acquisitions	189
Balance as of March 31, 2023	$	89,128

Intangible Assets

Detail of Intangible assets was as follows:

	March 31, 2023						December 31, 2022
(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Asset Value		Gross Carrying Amount		Accumulated Amortization		Net Asset Value
Amortizable intangible assets:
Manufacturer relationships	$	65,400	$	21,943	$	43,457	$	65,400	$	20,346	$	45,054
Customer relationships	10,395		4,218		6,177		10,395		3,993		6,402
Non-compete agreements	230		132		98		230		121		109
	76,025		26,293		49,732		76,025		24,460		51,565
Non-amortizable intangible assets:
Trade names and trademarks	30,100		—		30,100		30,100		—		30,100
	$	106,125	$	26,293	$	79,832	$	106,125	$	24,460	$	81,665

Amortization expense related to Intangible assets was as follows:

	Three months ended March 31,
(In thousands)	2023		2022
Amortization expense	$	1,833	$	1,807

Future amortization of Trade names and trademarks is as follows:

(In thousands)
Remainder of 2023	$5,499
2024	7,332
2025	7,264
2026	6,585
2027	6,274
Thereafter	16,778
Total	$49,732