v3.19.3
GOODWILL AND INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of goodwill
Changes in the carrying amount of goodwill for the nine months ended September 29, 2019 by segment are as follows:
(thousands)
 
Manufacturing
 
Distribution
 
Total
Balance - December 31, 2018
 
$
235,345

 
$
46,389

 
$
281,734

Acquisitions
 
7,177

 

 
7,177

Adjustments to preliminary purchase price allocations
 
8,428

 
11,019

 
19,447

Balance - September 29, 2019
 
$
250,950

 
$
57,408

 
$
308,358


Schedule of intangible assets, net
Intangible assets, net consist of the following as of September 29, 2019 and December 31, 2018:
(thousands)

September 29,
2019

Weighted Average Useful Life
(in years)

December 31,
2018

Weighted Average Useful Life
(in years)
Customer relationships

$
348,947


10.1

$
366,228


10.1
Non-compete agreements

16,405


4.9

19,159


4.9
Patents

16,338


14.6

1,048


8.9
Trademarks
 
80,786

 
Indefinite
 
82,358

 
Indefinite
 

462,476


 

468,793


 
Less: accumulated amortization

(112,260
)



(85,811
)

 
Intangible assets, net

$
350,216


 

$
382,982


 

Schedule of changes in intangible assets
Changes in the carrying value of intangible assets for the nine months ended September 29, 2019 by segment are as follows:
(thousands)

Manufacturing

Distribution

Total
Balance - December 31, 2018

$
304,485


$
78,497


$
382,982

Acquisitions

8,329




8,329

Amortization

(21,808
)

(4,640
)

(26,448
)
Adjustments to preliminary purchase price allocations

(12,023
)

(2,624
)

(14,647
)
Balance - September 29, 2019

$
278,983


$
71,233


$
350,216