v3.25.2
Goodwill and Intangible Assets
6 Months Ended
Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

7. Goodwill and Intangible Assets

The change in goodwill for the six months ended June 30, 2025 was as follows:

 

 

 

Distribution

 

 

Material
Handling

 

 

Total

 

January 1, 2025

 

$

14,730

 

 

$

240,802

 

 

$

255,532

 

Foreign currency translation

 

 

 

 

 

525

 

 

 

525

 

June 30, 2025

 

$

14,730

 

 

$

241,327

 

 

$

256,057

 

Intangible assets other than goodwill primarily consist of trade names, customer relationships, patents, non-competition agreements and technology assets established in connection with acquisitions. These intangible assets, other than certain trade names, are amortized over their estimated useful lives. Indefinite-lived trade names had a carrying value of $31.4 million at both June 30, 2025 and December 31, 2024. Refer to Note 3 for the intangible assets acquired through the Signature acquisition in February 2024.