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Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2023
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):
202320222021
$84,932 $89,002 $75,411 
Advertising expense
We expense advertising costs when incurred. The table below presents advertising expense for the past three years (in thousands):
202320222021
$28,532 $28,778 $9,409 
Fair value measurements
The table below presents our assets and liabilities measured and recorded at fair value on a recurring basis (in thousands):
 Fair Value at December 31,
Input LevelClassification20232022
Assets
     Unrealized gains on interest rate swapsLevel 2Other assets$25,752 $34,049 
     Deferred compensation plan assetLevel 1Other assets15,347 13,148 
Liabilities
     Contingent consideration liabilitiesLevel 3
Accrued expenses and other current liabilities
$— $554 
     Deferred compensation plan liabilityLevel 1Other long-term liabilities15,347 13,148 
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):
 202320222021
Balance at beginning of year$9,522 $5,942 $4,808 
Bad debt expense7,526 7,449 3,377 
Write-offs, net of recoveries(5,330)(3,869)(2,243)
Balance at end of year$11,718 $9,522 $5,942 
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):
 202320222021
Balance at beginning of year$21,208 $15,196 $11,398 
Provision for inventory write-downs8,483 11,989 7,781 
Deduction for inventory write-offs(6,227)(5,977)(3,983)
Balance at end of year$23,464 $21,208 $15,196 
Estimated useful lives of property and equipment We depreciate property and equipment on a straight-line basis over the following estimated useful lives:
Buildings40 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):
202320222021
$31,585 $30,381 $28,287 
Accumulated other comprehensive loss
The table below presents the components of our Accumulated other comprehensive income balance (in thousands):
 December 31,
20232022
Foreign currency translation adjustments$(12,699)$(19,608)
Unrealized gains on interest rate swaps, net of tax
19,281 25,503 
Accumulated other comprehensive income$6,582 $5,895 
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,
 202320222021
Cash paid during the year for:   
Interest $58,131 $39,759 $10,023 
Income taxes, net of refunds153,157 314,714 83,953 
Schedule of recent accounting pronouncements pending adoption
The following table summarizes the remaining recent accounting pronouncements that we plan to adopt in future periods:
StandardDescriptionEffective DateEffect on Financial Statements and Other Significant Matters
ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures

In December 2023, the FASB issued ASU 2023-09, Income Taxes- Improvements to Income Tax Disclosures, which will require enhancements and further transparency for decision usefulness to various income tax disclosures, most notably the tax rate reconciliation and income taxes paid.
Annual periods beginning after December 15, 2024 on a prospective basis and retrospective application is permitted. Early adoption is also permitted. We are currently evaluating the effect this standard will have on our disclosures.
ASU 2023-07, Segment Reporting (Topic 280), Improvements to Reportable Segment Disclosures


In November 2023, the FASB issued ASU 2023-07, Improvements to Reportable Segment Disclosures, which intends to improve reportable segment disclosures through requirement of enhanced disclosures about significant segment expenses, enhanced interim disclosure requirements, refines situations in which an entity can disclose multiple segment measures of profit or loss, provides advanced segment disclosure requirements for entities with a single reportable segment, as well as other disclosure requirements.
Annual periods beginning after December 15, 2023 on a retrospective basis. Early adoption is permitted. We are currently evaluating the effect this standard will have on our disclosures.
ASU 2023-06, Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative

In October 2023, the FASB issued ASU 2023-06, Disclosure Agreements - Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative, which will impact various disclosure areas, including the statement of cash flows, accounting changes and error corrections, earnings per share, debt, equity, derivatives, and transfers of financial assets.
The amendments in ASU 2023-06 will be effective on the date the related disclosures are removed from Regulation S-X or Regulation S-K by the SEC and will no longer be effective if the SEC has not removed the applicable disclosure requirement by June 30, 2027. Early adoption is prohibited. We are currently evaluating the effect this standard will have on our disclosures.