Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill by Segment

Changes in the carrying amount of goodwill by segment were as follows:

(in thousands)	Lawson		TestEquity		Gexpro Services		All Other		Total
Balance at December 31, 2023	$	155,915	$	164,990	$	55,743	$	23,277	$	399,925
Acquisitions(1)	29,765		(110)		—		—		29,655
Impact of foreign exchange rates	(198)		—		(336)		(738)		(1,272)
Balance at June 30, 2024	$	185,482	$	164,880	$	55,407	$	22,539	$	428,308

(1)    Refer to Note 3 – Business Acquisitions for information related to measurement period adjustments.

Schedule of Gross Carrying Amount and Accumulated Amortization for Definite-Lived Intangible Assets

The gross carrying amount and accumulated amortization for definite-lived intangible assets were as follows:

	June 30, 2024						December 31, 2023
(in thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	131,141	$	(37,281)	$	93,860	$	117,881	$	(30,093)	$	87,788
Customer relationships	265,825		(85,551)		180,274		233,513		(71,215)		162,298
Other (1)	8,295		(5,533)		2,762		8,011		(4,263)		3,748
Total	$	405,261	$	(128,365)	$	276,896	$	359,405	$	(105,571)	$	253,834

(1)    Other primarily consists of non-compete agreements.

Amortization expense for definite-lived intangible assets is included in Selling, general and administrative expenses in the Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
(in thousands)	2024		2023		2024		2023
Amortization expense for intangible assets	$	12,206	$	9,406	$	22,954	$	18,557

Schedule of Estimated Aggregate Amortization Expense

The estimated aggregate amortization expense for the remaining year 2024 and each of the next four years and thereafter are as follows:

(in thousands)	Amortization
Remaining 2024	$	24,453
2025	44,838
2026	41,321
2027	36,016
2028	31,525
Thereafter	98,743
Total	$	276,896