Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

The change in goodwill for the nine months ended September 30, 2023 was as follows:

	Distribution		Material Handling			Total
January 1, 2023	$	14,730	$	80,427		$	95,157
Foreign currency translation		—		(28	)		(28	)
September 30, 2023	$	14,730	$	80,399		$	95,129

Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents, non-competition agreements and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated useful lives. Indefinite-lived trade names had a carrying value of $9.8 million at both September 30, 2023 and December 31, 2022. Refer to Note 3 for the intangible assets acquired through the Mohawk acquisition in May 2022.