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Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
The change in goodwill

The changes in the carrying amount of goodwill for the years ended December 31, 2024 and 2023 were as follows:

 

 

 

Distribution

 

 

Material
Handling

 

 

Total

 

January 1, 2023

 

$

14,730

 

 

$

80,427

 

 

$

95,157

 

Foreign currency translation

 

 

 

 

 

235

 

 

 

235

 

December 31, 2023

 

$

14,730

 

 

$

80,662

 

 

$

95,392

 

Acquisition

 

 

 

 

 

183,098

 

 

 

183,098

 

Impairment charges

 

 

 

 

 

(22,016

)

 

 

(22,016

)

Foreign currency translation

 

 

 

 

 

(942

)

 

 

(942

)

December 31, 2024

 

$

14,730

 

 

$

240,802

 

 

$

255,532

 

Intangible assets

Intangible assets at December 31, 2024 and 2023 consisted of the following:

 

 

 

 

 

 

2024

 

 

2023

 

 

 

Weighted Average
Remaining Useful
Life (years)

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

 

Gross

 

 

Accumulated
Amortization

 

 

Net

 

Trade names - indefinite lived

 

 

 

 

$

31,382

 

 

$

 

 

$

31,382

 

 

$

9,782

 

 

$

 

 

$

9,782

 

Trade names

 

 

5.3

 

 

 

10,267

 

 

 

(4,658

)

 

 

5,609

 

 

 

10,267

 

 

 

(3,417

)

 

 

6,850

 

Customer relationships

 

 

9.7

 

 

 

157,880

 

 

 

(57,821

)

 

 

100,059

 

 

 

75,505

 

 

 

(48,790

)

 

 

26,715

 

Technology

 

 

10.9

 

 

 

56,280

 

 

 

(27,262

)

 

 

29,018

 

 

 

24,980

 

 

 

(23,713

)

 

 

1,267

 

Non-competition agreements

 

 

1.4

 

 

 

1,510

 

 

 

(1,257

)

 

 

253

 

 

 

1,510

 

 

 

(995

)

 

 

515

 

Patents

 

 

 

 

 

11,730

 

 

 

(11,730

)

 

 

 

 

 

11,730

 

 

 

(11,730

)

 

 

 

 

 

 

 

 

$

269,049

 

 

$

(102,728

)

 

$

166,321

 

 

$

133,774

 

 

$

(88,645

)

 

$

45,129