Acquisitions (Tables)

12 Months Ended

Dec. 31, 2023

Business Combination and Asset Acquisition [Abstract]

Summary of Purchase Price and Estimated Fair Value of Assets Acquired and Liabilities Assumed

The following table summarizes the preliminary purchase price and the estimated fair value of the assets acquired and liabilities assumed at the date of acquisition (in thousands):

Total purchase price, net of cash and cash equivalents acquired			$	425,327
Fair value of net assets acquired:
Current assets	$	348,727
Identifiable intangible assets - see description below	158,100
Property and equipment	2,266
Other assets	260,185
Current liabilities	(335,548)
Long-term liabilities, including long-term accounts payable	(125,425)
Total fair value of net assets acquired			308,305
Excess purchase price over fair value of net assets acquired ("goodwill")			$	117,022

Schedule of Intangible Assets Acquired as Part of Business Combination

The identifiable intangibles resulting from the acquisition are amortized using the straight-line method over the following estimated useful lives:

Intangible Assets	Estimated Economic Life
Customer relationships	10 Years
Trade name	3 Years
Non-compete agreements	3-5 Years

Summary of Pro Forma Information

The following table reports unaudited pro forma information as if the acquisition of SADA had been completed at the beginning of 2022 (in thousands, except per share amounts):

		Year Ended December 31,
		2023		2022
Net sales	As reported	$	9,175,840	$	10,431,191
	Pro forma	$	9,367,386	$	10,682,565
Net earnings	As reported	$	281,309	$	280,608
	Pro forma	$	330,757	$	308,243
Diluted earnings per share	As reported	$	7.55	$	7.66
	Pro forma	$	8.88	$	8.42