v3.21.2
GOODWILL AND INTANGIBLE ASSETS (Tables)
 9 Months Ended
Sep. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Changes in the carrying amount of goodwill for the nine months ended September 26, 2021 by segment are as follows:
(thousands) Manufacturing Distribution Total
Balance - December 31, 2020 $ 338,045  $ 57,755  $ 395,800 
Acquisitions 64,312  11,458  75,770 
Adjustments to preliminary purchase price allocations 7,366  19  7,385 
Balance - September 26, 2021 $ 409,723  $ 69,232  $ 478,955 
Schedule of Intangible Assets, Net
Intangible assets, net consist of the following as of September 26, 2021 and December 31, 2020:
(thousands) September 26, 2021 December 31, 2020
Customer relationships $ 549,314  $ 461,754 
Non-compete agreements 19,144  15,949 
Patents 36,528  23,025 
Trademarks (non-amortizing, indefinite lived) 151,997  113,796 
756,983  614,524 
Less: accumulated amortization (198,943) (158,248)
Intangible assets, net $ 558,040  $ 456,276 
Schedule of Changes in Intangible Assets
Changes in the carrying value of intangible assets for the nine months ended September 26, 2021 by segment are as follows:
(thousands) Manufacturing Distribution Total
Balance - December 31, 2020 $ 373,717  $ 82,559  $ 456,276 
Acquisitions 114,833  32,715  147,548 
Amortization (33,543) (7,152) (40,695)
Adjustments to preliminary purchase price allocations (5,089) —  (5,089)
Balance - September 26, 2021 $ 449,918  $ 108,122  $ 558,040