Goodwill and Intangible Assets |
9 Months Ended | ||||||||||||||||||||
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Sep. 30, 2026 | |||||||||||||||||||||
| Intangible Asset, Goodwill and Other [Abstract] | |||||||||||||||||||||
| Goodwill and Intangible Assets | 7. Goodwill and Intangible Assets In the first quarter of 2026, in conjunction with the announced sale of Myers Tire Supply, the Company realigned its organizational structure into a single-segment, as more fully described in Note 1. As a result of this change the Company reallocated goodwill within its Distribution reporting unit using a relative fair value approach for which it determined the remaining goodwill of the Distribution reporting unit pertained to businesses classified as held for sale, as more fully described in Note 3, and no additional goodwill was reallocated to the remaining reporting units within continuing operations. The change in goodwill for the nine months ended September 30, 2026 was as follows:
Intangible amortization expense was $3.3 million for both the quarters ended September 30, 2026 and 2025, and $9.8 million and $9.9 million for the nine months ended September 30, 2026 and 2025, respectively. 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 September 30, 2026 and December 31, 2025. |