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Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2024

Goodwill and Intangible Assets Disclosure [Text Block]

4. Goodwill and Other Intangible Assets

Goodwill represents the premium paid over the fair value of the net tangible and intangible assets that are individually identified and separately recognized in business combinations. The following table summarizes the changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2024 and 2023.

	*Distribution*			*Solutions*			*Consolidated*
Balance January 1, 2023	$	10,682		$	8,281		$	18,963
Goodwill acquired		7,143			—			7,143
Translation adjustments		833			243			1,076
Balance December 31, 2023	$	18,658		$	8,524		$	27,182
Goodwill acquired		8,401			—			8,401
Translation adjustments		(529	)		(130	)		(659	)
Balance December 31, 2024	$	26,530		$	8,394		$	34,924

Information related to the Company’s other intangibles, net is as follows:

	*As of December 31, 2024*
	*Gross*		*Accumulated*		*Net*
	*Carrying Amount*		*Amortization*		*Carrying Amount*
Customer and vendor relationships	$	43,805	$	7,603	$	36,202
Trade name		481		133		348
Total	$	44,286	$	7,736	$	36,550

	*As of December 31, 2023*
	*Gross*		*Accumulated*		*Net*
	*Carrying Amount*		*Amortization*		*Carrying Amount*
Customer and vendor relationships	$	30,968	$	4,424	$	26,544
Trade name		489		103		386
Total	$	31,457	$	4,527	$	26,930

Customer relationships are amortized over thirteen years. Vendor relationships are amortized between eight and fifteen years. Trade name is amortized over fifteen years.

The Company recognized total amortization expense for other intangibles, net of $3.4 million and $2.2 million during the years ended December 31, 2024 and 2023, respectively.

Estimated future amortization expense of the Company’s other intangibles, net as of December 31, 2024 is as follows:

2025	$	3,979
2026	$	3,979
2027	$	3,979
2028	$	3,979
2029	$	3,979
Thereafter		16,655
Total	$	36,550