Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Other Intangibles (Tables)

v3.23.3
Goodwill and Other Intangibles (Tables)
9 Months Ended
Sep. 30, 2023
Goodwill and Other Intangibles  
Changes in the carrying amount of goodwill by segment

Changes in the carrying amount of goodwill for the nine months ended September 30, 2023, by segment, were as follows, in thousands:

    

    

    

    

   Accumulated   

    

Gross Goodwill

FX Translation

Gross Goodwill

Impairment

Net Goodwill

December 31, 2022

Additions/Disposals

Adjustment

September 30, 2023

Losses

September 30, 2023

Goodwill, by segment:

Installation

$

1,826,979

$

72,998

$

-

$

1,899,977

$

(762,021)

$

1,137,956

Specialty Distribution

 

902,036

 

-

(215)

 

901,821

 

-

 

901,821

Total goodwill

$

2,729,015

$

72,998

$

(215)

$

2,801,798

$

(762,021)

$

2,039,777

Schedule of other intangible assets

Other intangible assets, net includes customer relationships, non-compete agreements, and trademarks / trade names. The following table sets forth our other intangible assets, in thousands:

As of

    

September 30, 2023

December 31, 2022

Gross definite-lived intangible assets

    

$

825,552

$

782,316

Accumulated amortization

    

(218,612)

(167,349)

Net definite-lived intangible assets

    

$

606,940

$

614,967

Schedule of amortization expense

The following table sets forth our amortization expense, in thousands:

Three Months Ended September 30, 

Nine Months Ended September 30, 

    

2023

    

2022

    

2023

    

2022

Amortization expense

$

17,389

$

16,970

$

51,496

$

50,809