Organization and Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Organization and Summary of Significant Accounting Policies [Abstract]

Shipping and handling costs associated with outbound freight

The table below presents shipping and handling costs associated with outbound freight, which we include in selling and administrative expenses (in thousands):

2021		2020		2019
$	75,411	$	59,224	$	51,580

Advertising expense

We expense advertising costs when incurred. The table below presents advertising expense for the past three years (in thousands):

2021		2020		2019
$	9,409	$	6,755	$	7,842

Fair value measurements

The table below presents the estimated fair values of our interest rate swap contracts, our forward-starting interest rate swap contracts and our contingent consideration liabilities (in thousands):

	Fair Value at December 31,
	2021		2020
Level 2
Unrealized gains on interest rate swaps	$	6,054	$	223
Unrealized losses on interest rate swaps	3,215		12,314
Level 3
Contingent consideration liabilities	$	985	$	1,343

Summary of changes in allowance for doubtful accounts

The following table summarizes the changes in our allowance for doubtful accounts for the past three years (in thousands):

	2021		2020		2019
Balance at beginning of year	$	4,808	$	5,472	$	6,182
Bad debt expense	3,377		1,900		2,768
Write-offs, net of recoveries	(2,243)		(2,564)		(3,478)
Balance at end of year	$	5,942	$	4,808	$	5,472

Summary of changes in allowance for inventory obsolescence

The following table summarizes the changes in our reserve for inventory obsolescence for the past three years (in thousands):

	2021		2020		2019
Balance at beginning of year	$	11,398	$	9,036	$	7,726
Provision for inventory write-downs	7,781		6,181		3,656
Deduction for inventory write-offs	(3,983)		(3,819)		(2,346)
Balance at end of year	$	15,196	$	11,398	$	9,036

Estimated useful lives of property and equipment

We depreciate property and equipment on a straight-line basis over the following estimated useful lives:

Buildings	40 years
Leasehold improvements (1)	1 - 10 years
Autos and trucks	3 - 6 years
Machinery and equipment	3 - 15 years
Computer equipment	3 - 7 years
Furniture and fixtures	5 - 10 years

(1)For substantial improvements made near the end of a lease term where we are reasonably certain the lease will be renewed, we amortize the leasehold improvement over the remaining life of the lease including the expected renewal period.

Depreciation expense

The table below presents depreciation expense for the past three years (in thousands):

2021		2020		2019
$	28,287	$	27,967	$	27,885

Accumulated other comprehensive loss

The table below presents the components of our Accumulated other comprehensive loss balance (in thousands):

	December 31,
	2021		2020
Foreign currency translation adjustments	$	(9,580)	$	(4,917)
Unrealized gain (loss) on interest rate swaps, net of tax	2,096		(9,102)
Accumulated other comprehensive loss	$	(7,484)	$	(14,019)

Supplemental disclosures to Consolidated Statements of Cash Flows

The following table presents supplemental disclosures to the accompanying Consolidated Statements of Cash Flows (in thousands):

	Year Ended December 31,
	2021		2020		2019
Cash paid during the year for:
Interest	$	10,023	$	8,257	$	20,960
Income taxes, net of refunds	83,953		81,792		51,076

Schedule of recent accounting pronouncements pending adoption

The following table summarizes the remaining recent accounting pronouncements that we plan to adopt in future periods:

Standard	Description	Effective Date	Effect on Financial Statements and Other Significant Matters
ASU 2020-04, Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Reporting	Provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The new guidance provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform if certain criteria are met. These transactions include: contract modifications, hedging relationships, and sale or transfer of debt securities classified as held-to-maturity. Entities may apply the provisions of the new standard as of the beginning of the reporting period when the election is made. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. The amendments in this ASU refine the scope of ASC 848 and clarify some of its guidance as it relates to recent rate reform activities.	The provisions of this update are only available until December 31, 2022, when the reference rate replacement activity is expected to be completed.	We do not expect that there will be a material impact to the financial statements as a result of adopting this ASU.