v3.25.2
Goodwill and Intangible Assets (Tables)
 6 Months Ended
Jun. 30, 2025
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)LawsonTestEquityGexpro ServicesCanada Branch DivisionTotal
Balance at December 31, 2024$192,598 $164,880 $56,342 $48,969 $462,789 
Acquisitions(1)
— — 168 849 1,017 
Impact of foreign exchange rates327 — 1,649 2,791 4,767 
Balance at June 30, 2025$192,925 $164,880 $58,159 $52,609 $468,573 
(1)    Refer to Note 3 – Business and Asset 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, 2025December 31, 2024
(in thousands)Gross Carrying AmountAccumulated AmortizationNet Carrying ValueGross Carrying AmountAccumulated AmortizationNet Carrying Value
Trade names$141,756 $(52,401)$89,355 $141,654 $(45,386)$96,268 
Customer relationships275,030 (116,750)158,280 272,051 (100,867)171,184 
Other (1)
7,849 (5,922)1,927 8,310 (5,999)2,311 
Total$424,635 $(175,073)$249,562 $422,015 $(152,252)$269,763 
(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)2025202420252024
Amortization expense for intangible assets$11,650 $12,206 $23,235 $22,954 
Schedule of Estimated Aggregate Amortization Expense
The estimated aggregate amortization expense for the remaining year 2025 and each of the next four years and thereafter are as follows:
(in thousands)Amortization
Remaining 2025$23,427 
202643,669 
202738,589 
202834,301 
202930,604 
Thereafter78,972 
Total$249,562