Goodwill (Tables)

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Activity Related to Acquisitions

Goodwill activity related to acquisitions is included in the table below:

	(Dollars in Thousands)
	Goodwill By Reportable Segment
	Lawson		Bolt		Total
Beginning balance January 1, 2019	$	7,174	$	12,905	$	20,079
Impact of foreign exchange	205		649		854
Adjustment to prior year allocation	(10)		—		(10)
Balance at December 31, 2019	7,369		$	13,554	20,923
Impact of foreign exchange	85		270		355
Acquisition (1)	15,816		—		15,816
Impairment (2)	(1,918)		—		(1,918)
Balance at December 31, 2020	$	21,352	$	13,824	$	35,176

(1)    The $15.8 million addition to goodwill in 2020 was due to the preliminary allocation of the purchase price to acquire Partsmaster.

(2) The Company performed a quantitative goodwill impairment analysis as of December 1, 2020 for the Screw Products reporting unit. The Company engaged a third party valuation firm to determine the value of the Screw Products reporting unit, and determined that the carrying value of the net assets exceeded the fair value of the reporting unit, and accordingly, recognized an impairment charge of $1.9 million.