v3.22.2
GOODWILL AND INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 26, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill for the six months ended June 26, 2022 by segment are as follows:
(thousands) Manufacturing Distribution Total
Balance - December 31, 2021 $ 481,906  $ 69,471  $ 551,377 
Acquisitions 53,972  —  53,972 
Adjustments to preliminary purchase price allocations (2,033) 1,770  (263)
Balance - June 26, 2022 $ 533,845  $ 71,241  $ 605,086 
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following as of June 26, 2022 and December 31, 2021:
(thousands) June 26, 2022 December 31, 2021
Customer relationships $ 667,003  $ 617,814 
Non-compete agreements 23,212  21,284 
Patents 61,100  50,038 
Trademarks 182,657  165,897 
933,972  855,033 
Less: accumulated amortization (249,983) (214,577)
Intangible assets, net $ 683,989  $ 640,456 
Schedule of Changes in Intangible Assets
Changes in the carrying value of intangible assets for the six months ended June 26, 2022 by segment are as follows:
(thousands) Manufacturing Distribution Total
Balance - December 31, 2021 $ 534,827  $ 105,629  $ 640,456 
Acquisitions 78,560  —  78,560 
Amortization (30,217) (5,189) (35,406)
Adjustments to preliminary purchase price allocations (1,178) 1,557  379 
Balance - June 26, 2022 $ 581,992  $ 101,997  $ 683,989