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Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 4,181	$ 28,393
Restricted cash	198	998
Accounts receivable, less allowance for doubtful accounts of $798 and $654, respectively	47,031	44,515
Inventories, net	73,849	61,867
Miscellaneous receivables and prepaid expenses	7,517	7,289
Total current assets	132,776	143,062
Property, plant and equipment, less accumulated depreciation and amortization	18,828	15,800
Deferred income taxes	20,111	18,482
Goodwill	35,313	35,176
Cash value of life insurance	18,573	16,185
Intangible assets, net	16,165	18,503
Right of use assets	14,045	8,764
Other assets	346	332
Total assets	256,157	256,304
Current liabilities:
Accrued acquisition liability	0	32,673
Accounts payable	21,089	22,262
Lease obligation	4,467	4,568
Accrued expenses and other liabilities	46,688	38,492
Total current liabilities	72,244	97,995
Revolving line of credit	11,900	0
Security bonus plan	10,578	11,262
Lease obligation	10,841	5,738
Deferred compensation	11,962	10,461
Deferred tax liability	1,671	2,841
Other liabilities	3,954	5,585
Total liabilities	123,150	133,882
Stockholders’ equity:
Preferred stock, $1 par value: Authorized - 500,000 shares, issued and outstanding - None	0	0
Common stock, $1 par value: Authorized - 35,000,000 shares Issued – 9,363,093 and 9,287,625 shares, respectively Outstanding – 9,115,584 and 9,061,039 shares, respectively	9,363	9,288
Capital in excess of par value	22,118	19,841
Retained earnings	111,015	101,609
Treasury stock – 247,509 and 226,586 shares held, respectively	(10,033)	(9,015)
Accumulated other comprehensive income	544	699
Total stockholders’ equity	133,007	122,422
Total liabilities and stockholders’ equity	$ 256,157	$ 256,304

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable, less allowance for doubtful accounts	$ 798	$ 654
Preferred stock, par value in USD per share)	$ 1	$ 1
Preferred stock, shares authorized (in shares)	500,000	500,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in USD per share)	$ 1	$ 1
Common stock, shares authorized (in shares)	35,000,000	35,000,000
Common stock, shares issued (in shares)	9,363,093	9,287,625
Common stock, shares outstanding (in shares)	9,115,584	9,061,039
Treasury stock (in shares)	247,509	226,586

Consolidated Statements of Income and Comprehensive Income - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenue	$ 417,733	$ 351,591
Cost of goods sold	198,498	165,053
Gross profit	219,235	186,538
Operating expenses:
Selling expenses	96,643	76,775
General and administrative expenses	110,605	89,213
Operating expenses	207,248	165,988
Operating income	11,987	20,550
Interest expense	(869)	(654)
Other income, net	801	889
Income before income taxes	(11,919)	(20,785)
Income tax expense	2,513	5,672
Net income	$ 9,406	$ 15,113
Basic income per share of common stock (in USD per share)	$ 1.04	$ 1.68
Diluted income per share of common stock (in USD per share)	$ 1.01	$ 1.62
Weighted average shares outstanding:
Basic weighted average shares outstanding (in shares)	9,073	9,020
Effect of dilutive securities outstanding (in shares)	277	311
Diluted weighted average shares outstanding (in shares)	9,350	9,331
Comprehensive income
Net income	$ 9,406	$ 15,113
Other comprehensive income, net of tax:
Adjustment for foreign currency translation	(155)	700
Comprehensive income	$ 9,251	$ 15,813

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Capital in Excess of Par Value	Retained Earnings	Treasury Stock	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of year (in shares) at Dec. 31, 2019		9,043,771
Balance at beginning of year at Dec. 31, 2019	$ 108,001	$ 9,190	$ 18,077	$ 86,496	$ (5,761)	$ (1)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	15,113			15,113
Adjustment for foreign currency translation	700					700
Stock-based compensation	1,847		1,847
Shares issued (in shares)		97,454
Shares issued	$ 15	$ 98	(83)
Shares repurchased held in treasury (in shares)	(47,504)	(80,186)
Shares repurchased held in treasury	$ (3,254)				(3,254)
Balance at end of year (in shares) at Dec. 31, 2020	9,287,625	9,061,039
Balance at end of year at Dec. 31, 2020	$ 122,422	$ 9,288	19,841	101,609	(9,015)	699
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	9,406			9,406
Adjustment for foreign currency translation	(155)					(155)
Stock-based compensation	2,352		2,352
Shares issued (in shares)		75,468
Shares issued	$ 0	$ 75	(75)
Shares repurchased held in treasury (in shares)	0	(20,923)
Shares repurchased held in treasury	$ (1,018)				(1,018)
Balance at end of year (in shares) at Dec. 31, 2021	9,363,093	9,115,584
Balance at end of year at Dec. 31, 2021	$ 133,007	$ 9,363	$ 22,118	$ 111,015	$ (10,033)	$ 544

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of Stockholders' Equity [Abstract]
Common stock, par value (in USD per share)	$ 1	$ 1	$ 1

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Operating activities
Net income	$ 9,406	$ 15,113
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8,341	6,701
Stock-based compensation	4,838	1,479
Deferred income taxes	(2,824)	(167)
Reserve for obsolete and excess inventory	2,450	675
Goodwill impairment	0	1,918
Changes in operating assets and liabilities, net of effect of acquired businesses:
Accounts receivable	(2,966)	1,762
Inventories	(14,347)	1,425
Miscellaneous receivables, prepaid expenses and other assets	(2,720)	(2,899)
Accounts payable and other liabilities	2,441	5,788
Other	830	733
Net cash provided by operating activities	5,449	32,528
Investing activities
Purchases of property, plant and equipment	(8,193)	(1,687)
Business acquisition, net of acquired cash	(33,000)	(2,300)
Net cash used in investing activities	(41,193)	(3,987)
Financing activities
Net proceeds (payments) on revolving lines of credit	11,900	(2,271)
Shares repurchased held in treasury	(1,018)	(3,254)
Payment of financing lease principal	(222)	(257)
Proceeds from stock option exercises	0	15
Net cash provided by (used in) financing activities	10,660	(5,767)
Effect of exchange rate changes on cash and cash equivalents	72	320
(Decrease) increase in cash and cash equivalents and restricted cash	(25,012)	23,094
Cash, cash equivalents and restricted cash at beginning of year	29,391	6,297
Cash, cash equivalents and restricted cash at end of year	4,379	29,391
Cash and cash equivalents	4,181	28,393
Restricted cash	198	998
Total cash, cash equivalents and restricted cash	4,379	29,391
Supplemental disclosure of cash flow information
Net noncash financing liability related to acquisition	0	(32,673)
Net cash paid for income taxes	4,364	5,377
Net cash paid for interest	968	398
Net noncash financing liability related to acquisition	$ 311	$ 64

Description of Business	12 Months Ended
Description of Business	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business Lawson Products, Inc. (“Lawson” or the “Company”) is a North American distributor of products and services to the industrial, commercial, institutional and government maintenance, repair and operations (“MRO”) marketplace. The Company has two reportable segments. The Lawson reportable segment distributes MRO products to customers primarily through a network of sales representatives offering vendor managed inventory ("VMI") service to customers throughout the United States and Canada. The Bolt reportable segment distributes MRO products primarily through its 14 branches located in Western Canada. Recent Events On December 29, 2021, Lawson entered into: •an Agreement and Plan of Merger (the “TestEquity Merger Agreement”) by and among (1) LKCM TE Investors, LLC (the “TestEquity Equityholder”), (2) TestEquity Acquisition, LLC, an indirect wholly-owned subsidiary of the TestEquity Equityholder (“TestEquity”), (3) Lawson and (4) Tide Sub, LLC, a wholly-owned subsidiary of Lawson (“Merger Sub 1”), pursuant to the terms and subject to the conditions of which Merger Sub 1 will merge with and into TestEquity, with TestEquity surviving the merger as a wholly-owned subsidiary of Lawson (the “TestEquity Merger”); and •an Agreement and Plan of Merger (the “Gexpro Services Merger Agreement” and, together with the TestEquity Merger Agreement, the “Merger Agreements”) by and among (1) 301 HW Opus Investors, LLC, (the “Gexpro Services Stockholder”), (2) 301 HW Opus Holdings, Inc., a wholly-owned subsidiary of the Gexpro Services Stockholder (“Gexpro Services”), (3) Lawson and (4) Gulf Sub, Inc., a wholly-owned subsidiary of Lawson (“Merger Sub 2”), pursuant to the terms and subject to the conditions of which Merger Sub 2 will merge with and into Gexpro Services, with Gexpro Services surviving the merger as a wholly-owned subsidiary of Lawson (the “Gexpro Services Merger” and, together with the TestEquity Merger, the “Mergers”). The Mergers are intended to bring together three complementary distribution businesses under a holding company structure. Pursuant to the Merger Agreements, Lawson has agreed to issue up to an aggregate of 12,000,000 shares of Lawson common stock in consideration for the Mergers as follows: •TestEquity Merger: In connection with the TestEquity Merger, 3,300,000 shares of Lawson common stock would be issued to the TestEquity Equityholder upon the closing of the TestEquity Merger, and up to an additional 700,000 shares of Lawson common stock would potentially be issuable to the TestEquity Equityholder on or after the closing date of the TestEquity Merger upon satisfaction of the conditions of, and in accordance with, two earnout mechanisms. •Gexpro Services Merger: In connection with the Gexpro Services Merger, 7,000,000 shares of Lawson common stock would be issued to the Gexpro Services Stockholder upon the closing of the Gexpro Services Merger, and up to an additional 1,000,000 shares of Lawson common stock would potentially be issuable to the Gexpro Services Stockholder on or after the closing date of the Gexpro Services Merger upon satisfaction of the conditions of, and in accordance with, two earnout mechanisms. The consummation of the Mergers is subject to certain closing conditions, including, among others, (1) receipt of the requisite Lawson stockholder approvals under the Merger Agreements and (2) receipt of proceeds of debt financing in an amount sufficient for the payment of certain payoff indebtedness, transaction expenses and other fees and expenses in connection with the Mergers. The Mergers, if completed, will be consummated substantially concurrently. We refer to the transactions contemplated by the Merger Agreements, including the Mergers and the share issuances, as the “Transactions.” The Merger Agreements contain certain termination rights for the parties, including, among other rights, termination rights if the Mergers are not completed on or before September 30, 2022 (subject to certain limitations) or any of the requisite Lawson stockholder approvals are not obtained at a duly convened stockholders meeting. If the TestEquity Merger Agreement is terminated under certain circumstances, Lawson will be obligated to pay TestEquity a termination fee of $4,000,000, and if the Gexpro Services Merger Agreement is terminated under certain circumstances, Lawson will be obligated to pay Gexpro Services a termination fee of $6,000,000.

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Principles of Consolidation — The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and include the accounts and transactions of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation. Revenue Recognition — The Company recognizes two revenue streams: revenues from the sale of product and revenues from the performance of VMI services. The Company offers VMI services only in conjunction with product sales. The Company does not bill product sales and services separately. A portion of selling expenses is allocated to cost of sales for reporting purposes based upon the estimated time spent on such services. Product revenue includes product sales and billings for freight and handling charges. Sales and associated cost of goods sold are generally recognized when products are shipped and title passes to customers. We accrue for returns based on historical evidence of return rates. Service revenue and associated cost of sales are recognized when services are performed. A portion of service revenue and cost of service is deferred, as not all services are performed in the same period as billed. The Company has adopted the practical expedient within ASC 340 to recognize incremental costs to obtain a contract, primarily employee related costs, as expense when incurred since the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company also operates as a lessor and recognizes lease revenue on a straight-line basis over the life of each lease. The Company has adopted the practical expedient not to separate the non-lease components that would be within the scope of ASC 606 from the associated lease component as the relevant criteria under ASC 842 are met. Cash Equivalents — The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The carrying amount of the Company’s cash equivalents at December 31, 2021 approximates fair value. Allowance for Doubtful Accounts — The Company evaluates the collectability of accounts receivable based on a combination of factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations (e.g., bankruptcy filings, substantial down-grading of credit ratings), a specific reserve for bad debts is recorded against amounts due to reduce the receivable to the amount the Company reasonably believes will be collected. For all other customers, the Company recognizes reserves for bad debts based on the Company’s historical experience of bad debt write-offs as a percent of accounts receivable outstanding. If circumstances change (e.g., higher than expected defaults or an unexpected material adverse change in a major customer's ability to meet its financial obligations), the estimates of the recoverability of amounts due the Company could be revised. Inventories — Inventories principally consist of finished goods stated at the lower of cost or net realizable value using the first-in-first-out method for the Lawson segment and weighted average for the Bolt segment as well as Partsmaster. To reduce the cost basis of inventory to a lower of cost or net realizable value, a reserve is recorded for slow-moving and obsolete inventory based on historical experience and monitoring of current inventory activity. Estimates are used to determine the necessity of recording these reserves based on periodic detailed analysis using both qualitative and quantitative factors. As part of this analysis, the Company considers several factors including the inventories length of time on hand, historical sales, product shelf life, product life cycle, product category and product obsolescence. Property, Plant and Equipment — Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation expense is computed primarily by the straight-line method for buildings, machinery and equipment, furniture and fixtures and vehicles. The Company estimates useful lives of 20 to 40 years for buildings and improvements and 3 to 10 years for machinery and equipment, furniture and fixtures and vehicles. Amortization of financing and capital leases is included in depreciation expense. Depreciation expense was $5.0 million and $4.4 million for 2021 and 2020 respectively. Capitalized software is amortized over estimated useful lives of 3 to 5 years using the straight-line method. Amortization expense of capitalized software was $0.8 million for 2021 and $0.6 million for 2020. Cash Value of Life Insurance — The Company has invested funds in life insurance policies on certain current and former employees. The cash surrender value of the policies is invested in various investment instruments and is recorded as an asset on our Consolidated Balance Sheets. The Company records these funds at contractual value. The change in the cash surrender value of the life insurance policies, which is recorded as a component of General and administrative expenses in the Consolidated Statements of Income and Comprehensive Income, is the change in the policies' contractual values. Deferred Compensation — The Company’s Executive Deferral Plan (“Deferral Plan”) allows certain executives to defer payment of a portion of their earned compensation. The deferred compensation is recorded in an Account Balance, which is a bookkeeping entry made by the Company to measure the amount due to the participant. The Account Balance is equal to the participant’s deferred compensation, adjusted for increases and/or decreases in the amount that the participant has designated to one or more bookkeeping portfolios that track the performance of certain mutual funds. Lawson adjusts the deferred compensation liability to equal the contractual value of the participants’ Account Balances. These adjustments are the changes in contractual value of the individual plans and are recorded as a component of General and administrative expenses in the Consolidated Statements of Income and Comprehensive Income. Stock-Based Compensation — Compensation based on the share value of the Company’s common stock is valued at its fair value at the grant date and the expense is recognized over the vesting period. Fair value is re-measured each reporting period for liability-classified awards that may be redeemable in cash. We account for forfeitures of stock-based compensation in the period in which they occur. Goodwill — The Company had $35.3 million and $35.2 million of goodwill in 2021 and 2020, respectively. Goodwill represents the cost of business acquisitions in excess of the fair value of identifiable net tangible and intangible assets acquired. Goodwill is allocated to the appropriate reporting unit as reviewed by the Company’s segment managers. The Company has four reporting units; Lawson MRO, Bolt, Screw Products, and Partsmaster. The Company reviews goodwill for potential impairment annually on December 1st, or when an event or other circumstances change that would more likely than not reduce the fair value of the asset below its carrying value. The first step in the multi-step process to determine if goodwill has been impaired and to what degree is to review the relevant qualitative factors that could cause the fair value of the reporting unit to decrease below the carrying value of the reporting unit. Related to the Lawson MRO, Bolt, and Partsmaster reporting units, the Company performed a qualitative assessment as of December 1, 2021 and determined that it was more likely than not the fair value of the reporting units exceeded the carrying value of the reporting units. The goodwill related to the Screw Products reporting unit was fully impaired in 2020. Intangible Assets — The Company's intangible assets consist of trade names and customer relationships. Intangible assets are amortized over a weighted average of 12 and 11 year estimated useful lives for trade names and customer relationships, respectively. The Company amortizes trade name intangible assets on a straight-line basis and customer relationship intangible assets on a basis consistent with their estimated economic benefit. Impairment of Long-Lived Assets — The Company reviews its long-lived assets, including property, plant and equipment and definite life intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be recoverable. Recoverability is measured by a comparison of the assets' carrying amount to their expected future undiscounted net cash flows. If such assets are considered to be impaired, the impairment to be recognized is measured based on the amount by which the carrying amount of the asset exceeds its fair value. No impairments occurred in 2020 or 2021. Income Taxes — Deferred tax assets or liabilities reflect temporary differences between amounts of assets and liabilities for financial and tax reporting. Such amounts are adjusted, as appropriate, to reflect changes in enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance is established to offset any deferred tax assets if, based upon the available evidence, it is more likely than not (i.e. greater than 50% likely) that some or all of the deferred tax assets will not be realized. The determination of the amount of a valuation allowance to be provided on recorded deferred tax assets involves estimates regarding (1) the timing and amount of the reversal of taxable temporary differences, (2) expected future taxable income, (3) the impact of tax planning strategies and (4) the ability to carry back deferred tax assets to offset prior taxable income. In assessing the need for a valuation allowance, we consider all available positive and negative evidence, including past operating results, projections of future taxable income and the feasibility of ongoing tax planning strategies. The projections of future taxable income include a number of estimates and assumptions regarding our volume, pricing and costs. Additionally, valuation allowances related to deferred tax assets can be impacted by changes to tax laws. Significant judgment is required in determining income tax provisions as well as deferred tax asset and liability balances, including the estimation of valuation allowances and the evaluation of uncertain tax positions. Earnings from the Company's foreign subsidiaries are considered to be indefinitely reinvested. A distribution of these non-U.S. earnings in the form of dividends or otherwise would subject the Company to foreign withholding taxes and may subject the Company to U.S. federal and state taxes. The Company recognizes the benefit of tax positions when a benefit is more likely than not (i.e., greater than 50% likely) to be sustained on its technical merits. Recognized tax benefits are measured at the largest amount that is more likely than not to be sustained, based on cumulative probability, in final settlement of the position. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of Income tax expense in the Consolidated Statements of Income and Comprehensive Income. Leases — Leases are categorized as either operating or financing leases at commencement. For both classes of leases, a Right Of Use ("ROU") asset and corresponding lease liability are recognized at commencement. Operating leases consist of the Company headquarters, distribution centers, and Bolt branches. Financing leases consist of equipment such as forklifts and copiers. The value of the lease assets and liabilities are the present value of the total cash payments for each lease. The Company uses its incremental borrowing rate to discount the total cash payments to present value for each lease. The Company will review each lease to determine if there is a more appropriate discount rate to apply. Upon commencement, rent expense is recognized on a straight line basis for each operating lease. Each financing lease ROU asset is amortized on a straight line basis over the lease period. Prior to acquisition, Partsmaster participated in a leasing program where they actively leased parts washer machines to customers. The Company will continue the leasing program for the foreseeable future. These leases are classified as operating leases. The leased machines are recognized as a component of Property, plant and equipment in the Consolidated Balance Sheets and the leasing revenue is recognized on a straight line basis. Earnings per Share — Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution from the exercise or conversion of outstanding stock options, market stock units and restricted stock awards into common stock. For the years ended December 31, 2021 and December 31, 2020 no options to purchase shares of common stock were excluded from the computation of diluted earnings per share because all of the options were in the money. Foreign Currency — The accounts of foreign subsidiaries are measured using the local currency as the functional currency. All balance sheet amounts are translated into U.S. dollars using the exchange rates in effect at the applicable period end. Components of income or loss are translated using the average exchange rate for each reporting period. Gains and losses resulting from changes in the exchange rates from translation of the subsidiary accounts in local currency to U.S. dollars are reported as a component of Accumulated other comprehensive income or loss in the Consolidated Balance Sheets. Gains and losses resulting from the effect of exchange rate changes on transactions denominated in currencies other than the functional currency are included as a component of net income or loss upon settlement of the transaction. Gains and losses resulting from foreign intercompany transactions are included as a component of net income or loss each reporting period unless the transactions are of a long-term-investment nature and settlement is not planned or anticipated in the foreseeable future, in which case the gains and losses are recorded as a component of Accumulated other comprehensive income or loss in the Consolidated Balance Sheets. Treasury Stock — The Company repurchased no shares of its common stock in 2021 through its previously announced stock repurchase plan. The Company repurchased 47,504 of its common stock in 2020 through its previously announced stock repurchase plan. The Company repurchased 20,923 and 32,682 shares of its common stock in 2021 and 2020, respectively from employees upon the vesting of restricted stock to offset the income taxes owed by those employees. The Company accounts for treasury stock using the cost method and includes treasury stock as a component of stockholders’ equity. The cost of the common stock repurchased and held in treasury was $1.0 million and $3.3 million in 2021 and 2020, respectively. Acquisitions — The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions for the purchase price allocation process to value assets acquired and liabilities assumed at the acquisition date, the estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill. Use of Estimates — Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported for service revenue, service cost, allowance for doubtful accounts, inventory reserves, goodwill and intangible assets valuation, and income taxes in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates. Recent Accounting Pronouncements - Not Yet Adopted In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which revises the requirements for how an entity should measure credit losses on financial instruments. The pronouncement is effective for smaller reporting companies in fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and the new guidance will be applied on a prospective basis. The Company is still evaluating the effect the adoption of the new standard will have on its financial statements.

Acquisition

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Acquisition

On August 31, 2020, the Company acquired Partsmaster from NCH Corporation. Partsmaster is a leading MRO solutions provider that serves approximately 16,000 customers with approximately 200 sales representatives. The acquisition was made primarily to expand the Company's sales coverage, expand product lines, add experienced sales representatives, and leverage the Company's infrastructure.

The purchase price was $35.3 million in cash plus the assumption of certain liabilities. The Company paid $2.3 million of the purchase price in cash at closing and paid the remaining $33.0 million in May 2021.

The payment obligation was discounted to present value and recognized as an Accrued acquisition liability of $32.7 million as of December 31, 2020 in the Company's Consolidated Balance Sheet. Interest expense of $0.3 million was recorded in the year ended December 31, 2021. Payment was guaranteed under the Purchase Agreement and included the issuance of a $33.0 million irrevocable standby letter of credit. The letter of credit was released upon payment of the acquisition liability in May 2021.

The purchase price of the acquisition was allocated to the fair value of Partsmaster's assets and liabilities at the acquisition date. The fair market value appraisals of the majority of the assets and liabilities was determined by a third party valuation firm using management estimates and assumptions including intangible assets of $5.0 million for customer relationships and $2.8 million for trade names, and their estimated useful lives of 10 and 5 years, respectively. The $15.8 million allocated to goodwill reflects the purchase price less the fair market value of the identifiable net assets. The goodwill is attributable to the workforce of the acquired business and the significant synergies expected to arise after Lawson's acquisition of Partsmaster. The entire amount of goodwill is expected to be deductible for tax purposes.

The accounting for this acquisition was completed as of June 30, 2021. Partsmaster contributed $57.8 million of revenue and $1.6 million of operating income in the year ended December 31, 2021, compared to $22.6 million of revenue and $0.8 million of operating income in the four-month post-acquisition period of 2020.

A summary of the purchase price allocation of the acquisition is as follows (Dollars in thousands):


Cash paid and liabilities assumed
Cash paid	$	34,523
Accounts payable and accrued expenses	4,086
Lease obligation	620
Deferred compensation	2,938
	$	42,167
Fair value of assets acquired
Goodwill	$	15,816
Inventories	7,797
Accounts receivable	7,706
Customer relationships	4,961
Trade names	2,775
Property, plant and equipment	2,121
Right of use asset	620
Other assets	371
	$	42,167

The unaudited pro forma revenue and net income for the Company for the year ended December 31, 2020 assuming the Partsmaster acquisition closed on January 1, 2019, was $396.7 million and $16.5 million, respectively.

The pro forma disclosures include adjustments for amortization of intangible assets, implied interest expense and acquisition costs to reflect results as if the acquisition of Partsmaster had closed on January 1, 2019 rather than on the actual acquisition date. This pro forma information utilizes certain estimates, is presented for illustrative purposes only and is not intended to be indicative of the actual results of operations. In addition, future results may vary significantly from the results reflected in the pro forma information. The unaudited pro forma financial information does not reflect the impact of future positive or negative events that may occur after the acquisition, such as anticipated cost savings from operating synergies.

Revenue Recognition

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Revenue Recognition

As part of the Company's revenue recognition analysis, it concluded that it has two separate performance obligations, and accordingly, two separate revenue streams: products and services. Under the definition of a contract as defined by ASC 606, the Company considers contracts to be created at the time an order to purchase product is agreed upon regardless of whether or not there is a written contract.

Performance Obligations

Lawson has two operating segments; the Lawson segment and the Bolt Supply segment.

The Lawson segment has two distinct performance obligations offered to its customers: a product performance obligation and a service performance obligation. Although the Company has identified that it offers its customers both a product and a service obligation, the customer only receives one invoice per transaction with no price allocation between these obligations. The Company does not price its offerings based on any allocation between these obligations.

Lawson generates revenue primarily from the sale of MRO products to its customers. Revenue related to product sales is recognized at the time that control of the product has been transferred to the customer; either at the time the product is shipped or the time the product has been received by the customer. The Company does not commit to long-term contracts to sell customers a certain minimum quantity of products.

The Lawson segment, including the Partsmaster acquisition, offers a VMI service proposition to its customers. A portion of these services, primarily related to stocking of product and maintenance of the MRO inventory, is provided a short period of time after control of the purchased product has been transferred to the customer. Since some components of VMI service have not been provided at the time the control of the product transfers to the customer, that portion of expected consideration is deferred until the time that those services have been provided.

The Bolt Supply segment does not provide VMI services for its customers or provide services in addition to product sales to customers. Revenue is recognized at the time that control of the product has been transferred to the customer which is either upon delivery or shipment depending on the terms of the contract.

The Company has elected not to disclose the disaggregated components of revenue and cost of sales in its Consolidated Statements of Income and Comprehensive Income and in the related notes to the consolidated financial statements.

Disaggregated revenue by product type follows:


	Unaudited
	Year Ended December 31,
Product Category	2021	2020
Fastening systems	22%	22%
Cutting tools and abrasives	15%	14%
Fluid power	13%	13%
Specialty chemicals	10%	11%
Electrical	10%	10%
Aftermarket automotive supplies	7%	7%
Safety	5%	6%
Welding and metal repair	2%	2%
Other	16%	15%
	100%	100%

Lawson as Lessor

Partsmaster leases parts washer machines to customers through its Torrents leasing program. These leases are classified as operating leases. The leased machines are recognized as a component of Property, plant and equipment in the Consolidated Balance Sheets and the leasing revenue is recognized on a straight line basis. The Torrents machine leasing program generated $3.5 million of revenue in 2021 compared to $0.9 million of revenue in 2020 post-acquisition. The carrying value of the Torrents leasing assets as of December 31, 2021 is $1.2 million. The Company has adopted the practical expedient not to separate the non-lease components that would be within the scope of ASC 606 from the associated lease component as the relevant criteria under ASC 842 are met.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130554-203045

+ Details

Restricted Cash	12 Months Ended
Restricted Cash	Dec. 31, 2021
Restricted Cash [Abstract]
Restricted Cash	Restricted CashThe Company has agreed to maintain $0.2 million in a guaranteed investment certificate as collateral for an outside party that is providing certain commercial credit card services for Bolt. The Company is restricted from withdrawing this balance without the prior consent of the outside party during the term of the agreement. The Company previously agreed to maintain $0.8 million in a money market account as collateral for an outside party that provided certain commercial credit card processing services for the Company, however this agreement ended in the third quarter 2021 and the $0.8 million is now unrestricted.

Inventories, net

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Inventories, net

Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Inventories, gross	$	81,569	$	67,137
Reserve for obsolete and excess inventory	(7,720)		(5,270)
Inventories, net	$	73,849	$	61,867

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment

Components of property, plant and equipment were as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Land	$	2,660	$	2,650
Buildings and improvements	16,228		15,765
Machinery and equipment	27,971		26,814
Capitalized software	21,715		23,013
Furniture and fixtures	5,855		5,725
Vehicles	196		151
Construction in progress	5,964		752
	80,589		74,870
Accumulated depreciation and amortization	(61,761)		(59,070)
	$	18,828	$	15,800

Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill activity related to acquisitions is included in the table below:


	(Dollars in Thousands)
	Goodwill By Reportable Segment
	Lawson		Bolt		Total
Beginning balance January 1, 2020	$	7,369	$	13,554	$	20,923
Impact of foreign exchange	85		270		355
Acquisition (1)	15,816		—		15,816
Impairment (2)	(1,918)		—		(1,918)
Balance at December 31, 2020	21,352		13,824		35,176

Impact of foreign exchange	32		105		137
Balance at December 31, 2021	$	21,384	$	13,929	$	35,313

(1) The $15.8 million addition to goodwill in 2020 was due to the allocation of the purchase price from the Partsmaster acquisition.

(2) The Company performed a quantitative goodwill impairment analysis as of December 1, 2020 for the Screw Products reporting unit. The Company engaged a third party valuation firm to determine the value of the Screw Products reporting unit, and determined that the carrying value of the net assets exceeded the fair value of the reporting unit, and accordingly, recognized an impairment charge of $1.9 million. The goodwill related to the Screw Products reporting unit was fully impaired in 2020.

Although the Company believes the projected future operating results and cash flows and related estimates regarding the values were based on reasonable assumptions, it is reasonably possible that estimates made may be materially and adversely impacted in the future, including impairment losses related to goodwill.

Intangible assets

12 Months Ended

Dec. 31, 2021

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible assets

The gross carrying amount and accumulated amortization by intangible asset class were as follows:


	(Dollars in thousands)						(Dollars in thousands)
	December 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	11,388	$	(3,866)	$	7,522	$	11,289	$	(2,733)	$	8,556
Customer relationships	12,427		(3,784)		8,643		12,349		(2,402)		9,947
	$	23,815	$	(7,650)	$	16,165	$	23,638	$	(5,135)	$	18,503

Amortization expense of $2.5 million and $1.7 million related to intangible assets was recorded in General and administrative expenses for 2021 and 2020, respectively. The estimated aggregate amortization expense for each of the next five years are as follows:


	(Dollars in thousands)
Year	Amortization
2022	$	2,649
2023	2,584
2024	2,482
2025	2,145
2026	1,566
Thereafter	4,739
	$	16,165

Income Taxes

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income Taxes

Income from operations before income taxes consisted of the following:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
United States	$	5,421	$	16,226
Canada	6,498		4,559
Total	$	11,919	$	20,785

Provision (benefit) for income taxes from operations for the years ended December 31, consisted of the following:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Current income tax expense:
U.S. federal	$	3,042	$	3,858
U.S. state	777		710
Canada	1,133		1,288
Total	$	4,952	$	5,856
Deferred income tax expense (benefit):
U.S. federal	$	(817)	$	236
U.S. state	(394)		52
Canada	(1,228)		(472)
Total	$	(2,439)	$	(184)
Total income tax expense (benefit):
U.S. federal	$	2,225	$	4,094
U.S. state	383		762
Canada	(95)		816
Total	$	2,513	$	5,672

The reconciliation between the effective income tax rates and the statutory federal rates for operations are as follows:


	Year Ended December 31,
	2021		2020
Statutory Federal rate	21.0	%	21.0	%
Increase (decrease) resulting from:
Change in valuation allowance - current period activity	—		(2.2)
Change in valuation allowance - reversal	(10.3)		—
Foreign rate differential	1.9		—
Stock compensation	(3.7)		(2.0)
Compensation deduction limitation	0.9		1.5
State and local taxes, net	3.3		3.8
Asset basis true-up	5.5		—
Meals & entertainment	1.2		0.6
Change in uncertain tax positions	0.4		4.6
Provision to return differences	0.2		(0.1)
Other items, net	0.7		0.1
Provision for income taxes	21.1	%	27.3	%

Global Intangible Low Taxed Income (GILTI) is a deemed amount of income derived from controlled foreign corporations (CFC) in which a US person is a 10% direct or indirect shareholder. The Company owns two Canadian CFC’s, which are subject to GILTI inclusion. However, the Company can utilize a foreign tax credit to fully offset a significant portion of all the tax from the GILTI inclusion based on foreign taxes paid in Canada.

At December 31, 2021, the Company had $3.5 million of U.S. federal net operating loss carryforwards which are subject to expiration beginning in 2030 and $6.5 million of various state net operating loss carryforwards which expire at varying dates through 2034.

After recording pre-tax losses for many years, Lawson’s Canadian subsidiary recorded pre-tax profits in 2019 and 2020. Lawson’s Canadian subsidiary continued to generate pre-tax profits in 2021 and have utilized some of the net operating loss carryforwards. Based on available evidence, we now believe it is more likely than not that we will be able to utilize Lawson’s Canadian subsidiary deferred tax assets to offset future taxable income. Lawson released the $1.2 million valuation allowance on the Lawson Canada deferred tax assets as of December 31, 2021.

As a result of acquisitions completed in recent years, the Company recorded $21.4 million of tax deductible goodwill that may result in a tax benefit in future periods.

Deferred income tax assets and liabilities contain the following temporary differences:


	(Dollars in thousands)
	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforward	$	4,073	$	5,431
Compensation and benefits	11,407		10,980
Inventory reserve	2,222		1,772
Transaction costs	2,077		—
Accounts receivable reserve	203		167
Leased assets	1,302		1,061
Property, plant & equipment	2,046		—
Intangible assets	202		—
Other	58		329
Total deferred tax assets	23,590		19,740

Deferred tax liabilities:
Intangible assets and goodwill	1,771		1,948
Lease liabilities	2,647		1,366
Property, plant and equipment	134		(975)
Other	598		503
Total deferred liabilities	5,150		2,842

Net deferred tax assets before valuation allowance	18,440		16,898
Valuation allowance	—		(1,257)

Net deferred tax assets	$	18,440	$	15,641

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Balance at beginning of year	$	3,686	$	3,242
Additions for tax positions of current year	—		15
Additions for tax positions of prior years	554		1,413
Reductions for tax positions of prior year	—		—
Lapse of statute of limitations	(539)		(984)
Balance at end of year	$	3,701	$	3,686

The recognition of the unrecognized tax benefits would have a favorable effect on the effective tax rate. Due to the uncertainty of both timing and resolution of income tax examinations, the Company is unable to determine whether any amounts included in the December 31, 2021 balance of unrecognized tax benefits represent tax positions that could significantly change during the next twelve months. The unrecognized tax benefits are recorded as a component of Other

liabilities in the Consolidated Balance Sheets. Interest and penalties related to unrecognized tax benefits are recorded as a component of Income tax expense in the Consolidated Statements of Income and Comprehensive Income. Including the impact of interest and the impact of net operating losses, the unrecognized tax benefit is $3.9 million and $3.7 million as of December 31, 2021 and December 31, 2020, respectively, which is recorded in Other liabilities on the Consolidated Balance Sheets.The Company and its subsidiaries are subject to U.S. federal income tax as well as income tax of multiple state and foreign jurisdictions. As of December 31, 2021, the Company was subject to U.S. federal income tax examinations for the years 2018 through 2020 and income tax examinations from various other jurisdictions for the years 2014 through 2020.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI http://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI http://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI http://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Accrued Expenses and Other Liabilities

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


	(Dollars in thousands)
	December 31,
	2021		2020

Accrued stock-based compensation (stock performance rights)	$	16,732	$	14,437
Accrued compensation	10,199		9,794
Accrued and withheld taxes, other than income taxes	4,113		3,788
Accrued costs related to merger agreements	3,103		—
Accrued profit sharing	212		240
Accrued severance	192		1,103
Deferred revenue	800		822
Accrued health benefits	614		732
Other	10,723		7,576
	$	46,688	$	38,492

Leases

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Leases

The Company leases property used for distribution centers, office space, and Bolt branch locations throughout the U.S. and Canada, along with various equipment located in distribution centers and corporate headquarters.

The expenses generated by the leasing activity of Lawson as lessee for the years ended December 31, 2021 and December 31, 2020 were as follows:


		(Dollars in Thousands)
		Year Ended December 31,
Lease Type	Classification	2021		2020

Consolidated Operating Lease Expense (1)	Operating expenses	$	5,881	$	4,999

Consolidated Financing Lease Amortization	Operating expenses	192		226
Consolidated Financing Lease Interest	Interest expense	15		28
Consolidated Financing Lease Expense		207		254
Net Lease Cost		$	6,088	$	5,253

(1) Includes short term lease expense, which is immaterial

The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of December 31, 2021 and December 31, 2020 were as follows:


	(Dollars in Thousands)
	Year Ended December 31,
Lease Type	2021		2020

Total ROU operating lease assets (1)	$	13,662	$	8,246
Total ROU financing lease assets (2)	383		518
Total lease assets	$	14,045	$	8,764

Total current operating lease obligation	$	4,313	$	4,360
Total current financing lease obligation	154		208
Total current lease obligations	$	4,467	$	4,568

Total long term operating lease obligation	$	10,713	$	5,498
Total long term financing lease obligation	128		240
Total long term lease obligation	$	10,841	$	5,738

(1) Operating lease assets are recorded net of accumulated amortization of $8.0 million and $5.9 million as of December 31, 2021 and December 31, 2020, respectively

(2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of December 31, 2021 and December 31, 2020, respectively

The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of December 31, 2021 were as follows (Dollars in thousands):


Year Ended December 31,	Operating Leases		Financing Leases		Total

2022	$	4,725	$	165	$	4,890
2023	3,944		100		4,044
2024	3,015		30		3,045
2025	1,739		—		1,739
2026	724		—		724
Thereafter	1,983		—		1,983
Total lease payments	16,130		295		16,425
Less: Interest	1,104		13		1,117
Present value of lease liabilities	$	15,026	$	282	$	15,308

(1) Of the $16.1 million future minimum operating lease commitments outstanding at December 31, 2021, $1.3 million relates to a lease for the Company's headquarters which expires in March 2023

(2) The Company has an operating lease for the McCook Facility which expires in June 2025 and includes future minimum lease payments of $6.5 million

The weighted average lease terms and interest rates of the leases held by Lawson as of December 31, 2021 are as follows:


Lease Type	Weighted Average Term in Years	Weighted Average Interest Rate

Operating Leases	4.5	4.1%
Financing Leases	2.1	4.8%

The cash outflows of the leasing activity of Lawson as lessee for the year ending December 31, 2021 are as follows (Dollars in thousands):

Cash Flow Source

Classification

Amount

Operating cash flows from operating leases

Operating activities

4,846

Operating cash flows from financing leases

Operating activities

Financing cash flows from financing leases

Financing activities

222

In March 2021 the Company signed a three year extension for their lease at the McCook distribution center ("McCook"). The lease extension created a right of use asset of $5.3 million and a lease liability of $5.3 million.

Refer to Note 4 - Revenue Recognition for a discussion on Lawson activities as lessor.

Leases

The expenses generated by the leasing activity of Lawson as lessee for the years ended December 31, 2021 and December 31, 2020 were as follows:


		(Dollars in Thousands)
		Year Ended December 31,
Lease Type	Classification	2021		2020

Consolidated Operating Lease Expense (1)	Operating expenses	$	5,881	$	4,999

Consolidated Financing Lease Amortization	Operating expenses	192		226
Consolidated Financing Lease Interest	Interest expense	15		28
Consolidated Financing Lease Expense		207		254
Net Lease Cost		$	6,088	$	5,253

(1) Includes short term lease expense, which is immaterial

The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of December 31, 2021 and December 31, 2020 were as follows:


	(Dollars in Thousands)
	Year Ended December 31,
Lease Type	2021		2020

Total ROU operating lease assets (1)	$	13,662	$	8,246
Total ROU financing lease assets (2)	383		518
Total lease assets	$	14,045	$	8,764

Total current operating lease obligation	$	4,313	$	4,360
Total current financing lease obligation	154		208
Total current lease obligations	$	4,467	$	4,568

Total long term operating lease obligation	$	10,713	$	5,498
Total long term financing lease obligation	128		240
Total long term lease obligation	$	10,841	$	5,738

(1) Operating lease assets are recorded net of accumulated amortization of $8.0 million and $5.9 million as of December 31, 2021 and December 31, 2020, respectively

(2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of December 31, 2021 and December 31, 2020, respectively

The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of December 31, 2021 were as follows (Dollars in thousands):


Year Ended December 31,	Operating Leases		Financing Leases		Total

2022	$	4,725	$	165	$	4,890
2023	3,944		100		4,044
2024	3,015		30		3,045
2025	1,739		—		1,739
2026	724		—		724
Thereafter	1,983		—		1,983
Total lease payments	16,130		295		16,425
Less: Interest	1,104		13		1,117
Present value of lease liabilities	$	15,026	$	282	$	15,308

(1) Of the $16.1 million future minimum operating lease commitments outstanding at December 31, 2021, $1.3 million relates to a lease for the Company's headquarters which expires in March 2023

(2) The Company has an operating lease for the McCook Facility which expires in June 2025 and includes future minimum lease payments of $6.5 million

The weighted average lease terms and interest rates of the leases held by Lawson as of December 31, 2021 are as follows:


Lease Type	Weighted Average Term in Years	Weighted Average Interest Rate

Operating Leases	4.5	4.1%
Financing Leases	2.1	4.8%

The cash outflows of the leasing activity of Lawson as lessee for the year ending December 31, 2021 are as follows (Dollars in thousands):

Cash Flow Source

Classification

Amount

Operating cash flows from operating leases

Operating activities

4,846

Operating cash flows from financing leases

Operating activities

Financing cash flows from financing leases

Financing activities

222

Refer to Note 4 - Revenue Recognition for a discussion on Lawson activities as lessor.

Credit Agreement	12 Months Ended
Credit Agreement	Dec. 31, 2021
Debt Disclosure [Abstract]
Credit Agreement	Credit Agreement In October 2019, the Company entered into a Revolving Credit Agreement (the "Credit Agreement" or "Revolving Credit Facility") with J.P. Morgan Chase Bank, N.A. as administrative agent, and including CIBC Bank USA and Bank of America, N.A. as other lenders. The Revolving Credit Facility matures on October 11, 2024 and provides $100.0 million of revolving commitments. The Credit Agreement allows borrowing capacity to increase to $150.0 million subject to meeting certain criteria and additional commitments from its lenders. The Credit Agreement consists of borrowings designated as alternate base rate loans, Canadian prime rate loans, Eurodollar loans, and Canadian dollar offered rate loans at the Company's request. The applicable interest rate spread is determined by the type of borrowing used and the Total Net Leverage Ratio as of the most recent fiscal quarter as defined in the Credit Agreement. The covenants associated with the Credit Agreement restrict the ability of the Company to, among other things: incur additional indebtedness and liens, make certain investments, merge or consolidate, engage in certain transactions such as the disposition of assets and sales-leaseback transactions, and make certain restricted cash payments such as dividends in excess of defined amounts contained within the Credit Agreement. In addition to these items and other customary terms and conditions, the Credit Agreement requires the Company to comply with certain financial covenants as follows: a) The Company is required to maintain an EBITDA to Fixed Charge Coverage Ratio of at least 1.15 to 1.00 for any period of four consecutive fiscal quarters ending on the last day of any fiscal quarter; and b) The Company is required to maintain a Total Net Leverage Ratio of no more than 3.25 to 1.00 on the last day of any fiscal quarter. The maximum Total Net Leverage Ratio will be allowed to increase to 3.75 to 1.00 after certain permitted acquisitions. The Credit Agreement also includes events of default for, among others, non-payment of obligations under the Credit Agreement, change of control, cross default to other indebtedness in an aggregate amount in excess of $5.0 million, failure to comply with covenants, and insolvency. The Company was in compliance with all financial covenants as of December 31, 2021. In the third quarter of 2020, the Company entered into an amendment to the Credit Agreement which among other items temporarily increased the allowed letter of credits from $15.0 million to $40.0 million until August 31, 2021 and authorized indebtedness not to exceed $36.0 million for the acquisition of Partsmaster. Net of outstanding letters of credit, the Company had $87.1 million of borrowing availability under the Revolving Credit Facility as of December 31, 2021 and $66.0 million as of December 31, 2020. Weighted average interest rates for the years ended December 31, 2021 and December 31, 2020 were 5.02% and 2.65%, respectively. Fees are reported as interest expense and include customary charges relating to letters of credit and an unused commitment fee ranging from 0.15% to 0.30%, depending on the Total Net Leverage Ratio as defined in the Credit Agreement. Fees for the years ended December 31, 2021 and December 31, 2020 were $0.3 million governing the Revolving Credit Facility. In connection with the Revolving Credit Facility originated in 2019, deferred financing costs of $0.6 million were incurred. Deferred financing costs are amortized over the life of the debt instrument and reported as interest expense. As of December 31, 2021 and December 31, 2020 deferred financing costs net of accumulated amortization were $0.3 million and $0.4 million, respectively, and are included in Other assets in the Consolidated Balance Sheets.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Accrued Acquisition Liability	12 Months Ended
Accrued Acquisition Liability	Dec. 31, 2021
Business Combinations [Abstract]
Accrued Acquisition Liability	Accrued Acquisition Liability On August 31, 2020, Lawson acquired Partsmaster from NCH Corporation. As part of the purchase price, the Company agreed to pay $33.0 million in May 2021. The payment obligation was discounted to its present value using an implied interest rate of 1.8%. A discounted current liability of $32.7 million was recognized as of December 31, 2020 in the Company's Consolidated Balance Sheet. In May 2021, the Company paid the outstanding $33.0 million accrued acquisition liability. Payment was guaranteed under the Purchase Agreement which included the issuance of a $33.0 million irrevocable standby letter of credit. The letter of credit was released in June 2021 subsequent to payment of the liability in May 2021. Interest expense of $0.3 million on the accrued acquisition liability was recorded in the year ended December 31, 2021, with all interest expense recognized prior to the payment of the accrued acquisition liability.

Reserve for Severance

12 Months Ended

Dec. 31, 2021

Severance Reserve [Abstract]

Reserve for Severance

Severance costs are primarily related to management realignment and reorganization. The table below reflects the activity in the Company’s reserve for severance and related payments.


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Beginning balance	$	1,251	$	909
Charged to earnings	264		2,077
Cash paid	(1,323)		(1,735)
Ending balance	$	192	$	1,251

The majority of remaining severance liabilities outstanding as of December 31, 2021 will be paid by the end of 2022, and are included in Accrued expenses and other liabilities in the Consolidated Balance Sheets.

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies The Company is involved in legal actions that arise in the ordinary course of business. It is the opinion of management that the resolution of any currently pending litigation will not have a material adverse effect on the Company’s financial position, results of operations or cash flows. Stockholder lawsuits On January 25, 2022, a lawsuit entitled Shiva Stein v. Lawson Products, Inc. et al., Case No. 1:22-cv-00639, was filed in the United States District Court for the Southern District of New York against Lawson and the members of the Lawson board of directors (the “Stein Action”). On January 27, 2022, a lawsuit entitled Matthew Hopkins v. Lawson Products, Inc. et al, Case No. 1:22-cv-00724, was filed in the United States District Court for the Southern District of New York against Lawson and the members of the Lawson board of directors (the “Hopkins Action”). On February 7, 2022, a lawsuit entitled Ema Bell v. Lawson Products, Inc. et al, Case No. 1:22-cv-01056, was filed in the United States District Court for the Southern District of New York against Lawson, the members of the Lawson board of directors, LKCM TE Investors, LLC (the “TestEquity Equityholder”), TestEquity, Tide Sub, LLC, a wholly-owned subsidiary of Lawson (“Merger Sub 1”), 301 HW Opus Investors, LLC, (the “Gexpro Services Stockholder”), Gexpro Services and Gulf Sub, Inc., a wholly-owned subsidiary of Lawson (“Merger Sub 2”) (the “Bell Action”). On February 11, 2022, a lawsuit entitled John Yurco v. Lawson Products, Inc. et al., Case No. 1:22-cv-01201, was filed in the United States District Court for the Southern District of New York against Lawson and the members of the Lawson board of directors (the “Yurco Action”). The Stein Action, the Hopkins Action, the Bell Action and the Yurco Action are collectively referred to as the “Actions.” The Actions allege that the defendants violated Sections 14(a) (and Rule 14a-9 promulgated thereunder) and 20(a) of the Exchange Act by, among other things, omitting certain allegedly material information with respect to the Transactions (as defined in Note 1) in the Company's proxy statement. The Bell Action also alleges that the members of the Lawson board of directors breached their fiduciary duties in connection with the Transactions and that Lawson aided and abetted the members of its board of directors in such breach. The Actions seek, among other things, injunctive relief, money damages and the costs of the Actions, including reasonable attorneys’ and experts’ fees. Lawson and the members of its board of directors disagree with and intend to vigorously defend against the Actions. If the Actions are not resolved favorably on a timely basis, the Actions could delay or prevent consummation of the Transactions and result in additional costs to Lawson, including costs associated with the indemnification of directors. Additional plaintiffs may file lawsuits against Lawson and/or its directors and officers in connection with the Transactions. At this time, the Company is unable to predict the ultimate outcome of the Actions or meaningfully quantify how the final resolution of the Actions may impact its business, financial condition and results of operations. In addition, on each of February 2, 2022, February 14, 2022 and February 15, 2022, purported Lawson stockholders made demands pursuant to Section 220 of the Delaware General Corporation Law to inspect certain books and records of Lawson (collectively, the “Books and Records Demands”). One stated purpose of the Books and Records Demands is to investigate questions of director disinterestedness and independence and the possibility of wrongdoing, mismanagement and/ or material non-disclosure related to the Special Committee’s (a Special Committee was formed to independently evaluate and negotiate the terms of the Merger Agreements and related Transactions) and the Lawson board of directors’ approval of the Transactions. Lawson and the members of its board of directors disagree with and intend to vigorously defend against any claim, if asserted, arising from the Books and Records Demands. Environmental matter In 2012, it was determined a Company owned site in Decatur, Alabama, contained hazardous substances in the soil and groundwater as a result of historical operations prior to the Company's ownership. The Company retained an environmental consulting firm to further investigate the contamination, prepare a remediation plan, and enroll the site in the Alabama Department of Environmental Management (“ADEM") voluntary cleanup program. A remediation plan was approved by ADEM in 2018. The plan consists of chemical injections throughout the affected area, as well as subsequent monitoring of the area. The injection process was completed in the first quarter of 2019 and the environmental consulting firm is monitoring the affected area. At December 31, 2021 the Company had less than $0.1 million accrued for potential monitoring costs. The costs for future monitoring are not significant and have been fully accrued. The Company does not expect to capitalize any amounts related to the remediation plan.

Retirement and Security Bonus Plans	12 Months Ended
Retirement and Security Bonus Plans	Dec. 31, 2021
Retirement Benefits [Abstract]
Retirement and Security Bonus Plans	Retirement and Security Bonus Plans The Company provides a 401(k) defined contribution plan to allow employees a pre-tax investment vehicle to save for retirement. The Company made contributions to the 401(k) plan of $3.5 million and $2.9 million for the years ended December 31, 2021 and 2020, respectively. The Company provides a Deferred Profit Savings Plan ("DPSP") for certain Canadian employees and a Registered Retirement Savings Plan ("RRSP") for other Canadian employees. Both are deferred defined contribution retirement investment plans. The Company contributed $0.3 million and $0.2 million in 2021 and 2020, respectively. The Company provides a profit sharing plan for certain sales, office and warehouse employees. The amounts of the Company’s annual contributions are determined annually by the Board of Directors. Expenses incurred for the profit sharing plan were $0.2 million and $0.2 million for the years ended December 31, 2021 and 2020, respectively. The Company has a security bonus plan which was previously created for the benefit of its independent sales representatives, under the terms of which participants are credited with a percentage of their annual net commissions. The aggregate amounts credited to participants’ accounts vest 25% after five years, and an additional 5% vests each year thereafter upon qualification for the plan. On January 1, 2013, the Company converted all of its U.S. independent sales representatives to employees. The security bonuses for those converted employees continue to vest, but their accounts are no longer credited with a percentage of net commissions. For financial reporting purposes, amounts are charged to operations over the vesting period. Expenses incurred for the security bonus plan were $0.2 million and $0.3 million for the years ended December 31, 2021 and 2020, respectively. The security bonus plan is partially funded by a $7.9 million investment in the cash surrender value in life insurance of certain employees. Of the $10.9 million total liability, $0.3 million is classified as a current liability as of December 31, 2021, and the remaining $10.6 million is classified as long-term.

- Definition

The entire disclosure for retirement benefits.

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+ Details

Stock-Based Compensation Plans

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Stock Compensation Plans

Stock-Based Compensation Plans

Plan Administration

The Company's Amended and Restated 2009 Equity Compensation Plan (“Equity Plan”) provides for the grant of nonqualified and incentive stock options, stock awards and stock units to officers and employees of the Company. The Equity Plan also provides for the grant of option rights and restricted stock to non-employee directors. As of December 31, 2021, the Company had approximately 164,000 shares of common stock still available under the Equity Plan. Non-employee directors are limited to grants of no more than 20,000 shares of common stock in any calendar year and other than non-employee directors are limited to grants of no more than 125,000 shares of common stock in any calendar year. The Equity Plan is administered by the Compensation Committee of the Board of Directors, or its designee, which as administrator of the plan, has the authority to select plan participants, grant awards, and determine the terms and conditions of the awards.

The Company also has a Stock Performance Rights Plan (“SPR Plan”) that provides for the issuance of Stock Performance Rights (“SPRs”) that allow non-employee directors, officers and key employees to receive cash awards, subject to certain restrictions, equal to the appreciation of the Company's common stock. The SPR Plan is administered by the Compensation Committee of the Board of Directors.

Stock Performance Rights

SPRs entitle the recipient to receive a cash payment equal to the excess of the market value of the Company's common stock over the SPR exercise price when the SPRs are surrendered. Expense, equal to the fair market value of the SPR at the date of grant and remeasured each reporting period, is recorded ratably over the vesting period. Compensation expense is included in General and administrative expense in the Consolidated Statements of Income and Comprehensive Income. The outstanding SPRs were granted with approximately a seven year life and vest over one to three years beginning on the first anniversary of the date of the grant.

On December 31, 2021, the SPRs outstanding were re-measured at fair value using the Black-Scholes valuation model. This model requires the input of subjective assumptions that may have a significant impact on the fair value estimate. The weighted-average estimated value of SPRs outstanding as of December 31, 2021 was $26.66 per SPR using the following assumptions:


Expected volatility			30.3% to 53.7%
Risk-free rate of return			0.2% to 0.9%
Expected term (in years)			0.1 to 2.5
Expected annual dividend			$0

The expected volatility was based on the historic volatility of the Company's stock price commensurate with the expected life of the SPR. The risk-free rate of return reflects the interest rate offered for zero coupon treasury bonds over the expected life of the SPR. The expected life represents the period of time that options granted are expected to be outstanding and was calculated using the simplified method allowed by the SEC, which approximates our historical experience. The estimated annual dividend was based on the recent dividend payout trend.

Compensation expense of $2.1 million was recorded in General and administrative expense for the year ended December 31, 2021. A compensation benefit of less than $0.1 million was recorded as a reduction to General and administrative expense for the year ended December 31, 2020

Cash in the amount of $0.2 million and $0.5 million was paid for SPR exercises in 2021 and 2020, respectively. A liability of $16.7 million reflecting the estimated fair value of future pay-outs is included as a component of Accrued expenses and other liabilities in the Consolidated Balance Sheets.

Activity related to the Company’s SPRs during the year ended December 31, 2021 was as follows:


	Number of SPRs	Weighted Average Exercise Price
Outstanding on December 31, 2020	581,000	$	26.88
Exercised	(4,464)	55.46
Outstanding on December 31, 2021	576,536	26.66

Exercisable on December 31, 2021	576,536	$	26.66

The SPRs outstanding had an intrinsic value of $16.0 million as of December 31, 2021. All SPRs for plan participants have vested as of December 31, 2021, so there is no unrecognized compensation associated with any SPRs.

During the year ended December 31, 2021, 8,460 SPRs with a fair value of $0.2 million vested. At December 31, 2021, the weighted average remaining contractual term was 1.1 years for all outstanding SPRs.

Restricted Stock Awards

Restricted stock awards ("RSAs") generally vest over a one to three year period beginning on the first anniversary of the date of the grant. Upon vesting, the vested restricted stock awards are exchanged for an equal number of the Company’s common stock. The participants have no voting or dividend rights with the restricted stock awards. The restricted stock awards are valued at the closing price of the common stock on the date of grant and the expense is recorded ratably over the vesting period.

Compensation expense of $1.6 million and $1.2 million related to the RSAs was recorded in General and administrative expenses for 2021 and 2020, respectively. Activity related to the Company’s RSAs during the year ended December 31, 2021 was as follows:


			Restricted Stock Awards
Outstanding on December 31, 2020			45,799
Granted			59,091
Exchanged for common shares			(32,661)
Outstanding on December 31, 2021			72,229

As of December 31, 2021, there was $1.6 million of total unrecognized compensation cost related to RSAs that will be recognized over a weighted average period of 1.5 years. The awards granted in 2021 had a weighted average grant date fair value of $48.86 per share.

Market Stock Units

Market Stock Units ("MSUs") are exchangeable for between 0% to 150% of the Company's common shares at the end of the vesting period based on the trailing 60 day average closing price of the Company's common stock. The value of the MSUs was determined using a geometric brownian motion model that, based on certain variables, generates a large number of random trials simulating the price of the common stock over the measurement period. Expense of $0.7 million related to MSUs was recorded in General and administrative expenses in both years ended December 31, 2021 and 2020, respectively. Activity related to the Company’s MSUs during the year ended December 31, 2021 was as follows:


	Number of Market Stock Units	Maximum Shares Potentially Issuable
Outstanding on December 31, 2020	137,256	195,723
Granted	19,688	29,568
Exchanged for stock	(28,804)	(42,811)
Outstanding on December 31, 2021	128,140	182,480

Stock Options

Each stock option can be exchanged for one share of the Company’s common stock at the stated exercise price. No stock option expense was recorded in 2021 and 2020. There was no unrecognized compensation related to stock options as of December 31, 2021 as all compensation plans that included stock options were fully vested. Upon vesting, stock options are recognized as a component of equity. There were 80,000 fully vested stock options outstanding on December 31, 2021 with a weighted average exercise price of $27.70.

Performance Awards

Performance Awards ("PAs") are exchangeable for between 0% to 150% of the Company's common shares, or the equivalent amount in cash, based upon the achievement of certain financial performance metrics at the end of the vesting period. Expense of $0.4 million and $0.1 million related to the PAs was recorded in General and administrative expenses for

the year ended December 31, 2021 and December 31, 2020, respectively. Activity related to the Company’s PAs during the year ended December 31, 2021 was as follows:


	Number of Performance Awards	Maximum Shares Potentially Issuable
Outstanding on December 31, 2020	10,852	16,278
Granted	15,723	23,585
Outstanding on December 31, 2021	26,575	39,863

Segment Information

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Segment Information

The Company's operating segments, Lawson and Bolt, also represent its reportable segments because of differences in the businesses' financial characteristics and the methods they employ to deliver product to customers. The results of the Company's operating segments are reviewed by the Company’s chief operating decision maker responsible for reviewing operating performance and allocating resources. The Lawson segment primarily relies on its large network of sales representatives to visit the customer at the customers' location and produce sales orders for product that is then shipped to the customer and also provides VMI services. The Bolt segment primarily sells product to customers when the customers visit one of Bolt's 14 branch locations and the product is delivered to the customers at the point of sale. The Bolt segment total assets include the value of the acquired intangibles and the related amortization within its operating income.

Financial information for the Company's reportable segments follows:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Net sales
Lawson	$	371,668	$	312,803
Bolt	46,065		38,788
Consolidated total	$	417,733	$	351,591

Gross profit
Lawson	$	200,475	$	171,258
Bolt	18,760		15,280
Consolidated total	$	219,235	$	186,538

Operating Income
Lawson	$	8,193	$	17,715
Bolt	3,794		2,835
Consolidated total	11,987		20,550

Interest expense	(869)		(654)
Other income, net	801		889
Income before income taxes	$	11,919	$	20,785

Capital expenditures
Lawson	$	7,460	$	1,529
Bolt	733		158
Consolidated total	$	8,193	$	1,687

Depreciation and amortization
Lawson	$	6,736	$	5,343
Bolt	1,605		1,358
Consolidated total	$	8,341	$	6,701

Total assets
Lawson	$	217,856	$	221,490
Bolt	47,085		43,533
Investment in Subsidiary	(8,784)		(8,719)
Consolidated total	$	256,157	$	256,304

Financial information related to the Company’s operations by geographic area follows:


	(Dollars in Thousands)
	Year Ended December 31,
	2021		2020
Net sales (1)
United States	$	337,981	$	283,261
Canada	79,752		68,330
Consolidated total	$	417,733	$	351,591

Long-lived assets (2)
United States	$	50,491	$	44,395
Canada	34,206		34,180
Consolidated total	$	84,697	$	78,575

(1) Net sales are attributed to countries based on the location of customers.

(2) Long-lived assets primarily consist of property, plant and equipment, goodwill, intangibles, right of use assets and other assets.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 26
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

+ Details

Stock Repurchase Program	12 Months Ended
Stock Repurchase Program	Dec. 31, 2021
Disclosure of Repurchase Agreements [Abstract]
Stock Repurchase Program	Note 20 – Stock Repurchase Program In 2019, the Company's Board of Directors authorized a program in which the Company may repurchase up to $7.5 million of the Company's common stock from time to time in open market transactions, privately negotiated transactions or by other methods. The Company did not repurchase any shares under the stock repurchase program in 2021. In 2020 the Company purchased 47,504 shares of common stock at an average purchase price of $36.93 under the repurchase program. At December 31, 2021, the Company had approximately $4.5 million available under the repurchase plan.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions During the year ended December 31, 2021 the Company purchased approximately $0.1 million of inventory from a company owned by an immediate relative of a Board member at fair market value. No liabilities exist with respect to the related party transactions as of December 31, 2021. As described in greater detail in Note 1 – Description of Business, on December 29, 2021 the Company entered into two merger agreements with TestEquity and Gexpro Services. Lawson, TestEquity, and Gexpro Services are related parties due to common ownership between the three entities. TestEquity and Gexpro Services are affiliated with Luther King Capital Management Corporation (“LKCM”) which, together with certain of its affiliated entities, is a significant stockholder of Lawson.

COVID-19 Risks and Uncertainties	12 Months Ended
COVID-19 Risks and Uncertainties	Dec. 31, 2021
Risks and Uncertainties [Abstract]
COVID-19 Risks and Uncertainties	COVID-19 Risks and Uncertainties Various events related to COVID-19 may impact revenue, product sourcing, sales functions, and customers' ability to pay timely. The government of the State of Illinois defines Lawson Products as an essential business. A change in this status could result in the temporary closure of our business if the COVID-19 pandemic worsens, and government restrictions are reimposed to require business shutdowns. The COVID-19 pandemic could result in a temporary closure of any or all of our office space, distribution facilities, or Bolt branch locations, as well as disruptions to our supply chain and interactions with our suppliers and customers. The pandemic may have a material adverse impact on future financial results, liquidity, and overall performance of the Company. On March 27, 2020, Congress enacted the Coronavirus Aid, Relief, and Economic Security ("CARES") Act to provide certain relief as a result of the COVID-19 outbreak. The Company elected to defer a total of $3.5 million of employer side social security payments in accordance with the CARES Act. The Company paid $1.7 million of accrued deferred payroll taxes in the fourth quarter of 2021, and the remaining balance is expected to be paid in 2022. The Company will continue to evaluate how the provisions of the CARES Act will impact its financial position, results of operations and cash flows. During 2020, the Company also utilized the Canadian Emergency Wage Subsidy ("CEWS") Act for both Lawson Canada and Bolt for assistance with hourly employee costs. The CEWS is a program that provides a subsidy of certain eligible wages commencing March 15, 2020 through December 31, 2020 subject to meeting certain criteria. During 2020 and 2021 the Company recorded $1.4 million and $0.2 million, respectively, in subsidies from the CEWS program which is recognized as a reduction to selling, general and administrative expenses in the Consolidated Statements of Income and Comprehensive Income. The Company will continue to closely monitor the operating environment and will take appropriate actions to protect the safety for its employees, customers and suppliers.

Schedule II - Valuation and Qualifying Accounts

12 Months Ended

Dec. 31, 2021

SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]

Schedule II - Valuation and Qualifying Accounts

Schedule II -Valuation and Qualifying Accounts

The roll forward of valuation accounts were as follows:


	(Dollars in thousands)
Description	Balance at Beginning of Period		Charged to Costs and Expenses		Deductions		Balance at End of Period
Allowance for doubtful accounts: (1)
Year ended December 31, 2021	$	654	$	504	$	(360)	$	798
Year ended December 31, 2020	$	593	$	578	$	(517)	$	654

Valuation allowance for deferred tax assets:
Year ended December 31, 2021	$	1,257	$	—	$	(1,257)	$	—
Year ended December 31, 2020	$	1,235	$	22	$	—	$	1,257

(1) Deductions reflect uncollected receivables written off, net of recoveries and translation adjustments.

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2021
Subsequent Events [Abstract]
Subsequent Events	Subsequent Event Recent Cyber Incident On February 8, 2022, Lawson became aware that its computer network was the subject of a cyber incident potentially involving unauthorized access. It is possible that certain confidential business information and personnel records may have been compromised. Lawson has engaged a cybersecurity forensics firm to assist in the investigation of the incident and to assist in securing its computer network. Depending on the nature of any information that may have been compromised, Lawson may be required to notify the parties whose information was compromised of the incident as well as various governmental agencies and may be required to take other actions in the future, such as offering credit monitoring services. Lawson is continuing to investigate the incident as well as potential corrective and remedial actions to take in respect of the incident. The Company is in the early stage of the investigation, and at this time, is unable to estimate the cost of any remediation that may be required.

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2021
Accounting Policies [Abstract]
Principles of Consolidation	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States and include the accounts and transactions of the Company and its wholly-owned subsidiaries. All significant intercompany transactions and balances have been eliminated in consolidation.
Revenue Recognition	The Company recognizes two revenue streams: revenues from the sale of product and revenues from the performance of VMI services. The Company offers VMI services only in conjunction with product sales. The Company does not bill product sales and services separately. A portion of selling expenses is allocated to cost of sales for reporting purposes based upon the estimated time spent on such services. Product revenue includes product sales and billings for freight and handling charges. Sales and associated cost of goods sold are generally recognized when products are shipped and title passes to customers. We accrue for returns based on historical evidence of return rates. Service revenue and associated cost of sales are recognized when services are performed. A portion of service revenue and cost of service is deferred, as not all services are performed in the same period as billed. The Company has adopted the practical expedient within ASC 340 to recognize incremental costs to obtain a contract, primarily employee related costs, as expense when incurred since the amortization period of the asset that the Company otherwise would have recognized is one year or less. The Company also operates as a lessor and recognizes lease revenue on a straight-line basis over the life of each lease. The Company has adopted the practical expedient not to separate the non-lease components that would be within the scope of ASC 606 from the associated lease component as the relevant criteria under ASC 842 are met.
Cash Equivalents	The Company considers all highly liquid investments with a maturity of three months or less when purchased to be cash equivalents. The carrying amount of the Company’s cash equivalents at December 31, 2021 approximates fair value.
Allowance for Doubtful Accounts	The Company evaluates the collectability of accounts receivable based on a combination of factors. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations (e.g., bankruptcy filings, substantial down-grading of credit ratings), a specific reserve for bad debts is recorded against amounts due to reduce the receivable to the amount the Company reasonably believes will be collected. For all other customers, the Company recognizes reserves for bad debts based on the Company’s historical experience of bad debt write-offs as a percent of accounts receivable outstanding. If circumstances change (e.g., higher than expected defaults or an unexpected material adverse change in a major customer's ability to meet its financial obligations), the estimates of the recoverability of amounts due the Company could be revised.
Inventories	Inventories principally consist of finished goods stated at the lower of cost or net realizable value using the first-in-first-out method for the Lawson segment and weighted average for the Bolt segment as well as Partsmaster. To reduce the cost basis of inventory to a lower of cost or net realizable value, a reserve is recorded for slow-moving and obsolete inventory based on historical experience and monitoring of current inventory activity. Estimates are used to determine the necessity of recording these reserves based on periodic detailed analysis using both qualitative and quantitative factors. As part of this analysis, the Company considers several factors including the inventories length of time on hand, historical sales, product shelf life, product life cycle, product category and product obsolescence.
Property, Plant and Equipment	Property, plant and equipment are stated at cost less accumulated depreciation and amortization. Depreciation expense is computed primarily by the straight-line method for buildings, machinery and equipment, furniture and fixtures and vehicles. The Company estimates useful lives of 20 to 40 years for buildings and improvements and 3 to 10 years for machinery and equipment, furniture and fixtures and vehicles. Amortization of financing and capital leases is included in depreciation expense.
Cash Value of Life Insurance	The Company has invested funds in life insurance policies on certain current and former employees. The cash surrender value of the policies is invested in various investment instruments and is recorded as an asset on our Consolidated Balance Sheets. The Company records these funds at contractual value. The change in the cash surrender value of the life insurance policies, which is recorded as a component of General and administrative expenses in the Consolidated Statements of Income and Comprehensive Income, is the change in the policies' contractual values.
Deferred Compensation	The Company’s Executive Deferral Plan (“Deferral Plan”) allows certain executives to defer payment of a portion of their earned compensation. The deferred compensation is recorded in an Account Balance, which is a bookkeeping entry made by the Company to measure the amount due to the participant. The Account Balance is equal to the participant’s deferred compensation, adjusted for increases and/or decreases in the amount that the participant has designated to one or more bookkeeping portfolios that track the performance of certain mutual funds. Lawson adjusts the deferred compensation liability to equal the contractual value of the participants’ Account Balances. These adjustments are the changes in contractual value of the individual plans and are recorded as a component of General and administrative expenses in the Consolidated Statements of Income and Comprehensive Income.
Stock-Based Compensation	Compensation based on the share value of the Company’s common stock is valued at its fair value at the grant date and the expense is recognized over the vesting period. Fair value is re-measured each reporting period for liability-classified awards that may be redeemable in cash. We account for forfeitures of stock-based compensation in the period in which they occur.
Goodwill	The Company had $35.3 million and $35.2 million of goodwill in 2021 and 2020, respectively. Goodwill represents the cost of business acquisitions in excess of the fair value of identifiable net tangible and intangible assets acquired. Goodwill is allocated to the appropriate reporting unit as reviewed by the Company’s segment managers. The Company has four reporting units; Lawson MRO, Bolt, Screw Products, and Partsmaster. The Company reviews goodwill for potential impairment annually on December 1st, or when an event or other circumstances change that would more likely than not reduce the fair value of the asset below its carrying value. The first step in the multi-step process to determine if goodwill has been impaired and to what degree is to review the relevant qualitative factors that could cause the fair value of the reporting unit to decrease below the carrying value of the reporting unit. Related to the Lawson MRO, Bolt, and Partsmaster reporting units, the Company performed a qualitative assessment as of December 1, 2021 and determined that it was more likely than not the fair value of the reporting units exceeded the carrying value of the reporting units. The goodwill related to the Screw Products reporting unit was fully impaired in 2020.
Intangible Assets	The Company's intangible assets consist of trade names and customer relationships. Intangible assets are amortized over a weighted average of 12 and 11 year estimated useful lives for trade names and customer relationships, respectively. The Company amortizes trade name intangible assets on a straight-line basis and customer relationship intangible assets on a basis consistent with their estimated economic benefit.
Impairment of Long-Lived Assets	The Company reviews its long-lived assets, including property, plant and equipment and definite life intangibles, for impairment whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be recoverable. Recoverability is measured by a comparison of the assets' carrying amount to their expected future undiscounted net cash flows. If such assets are considered to be impaired, the impairment to be recognized is measured based on the amount by which the carrying amount of the asset exceeds its fair value. No impairments occurred in 2020 or 2021.
Income Taxes	Deferred tax assets or liabilities reflect temporary differences between amounts of assets and liabilities for financial and tax reporting. Such amounts are adjusted, as appropriate, to reflect changes in enacted tax rates expected to be in effect when the temporary differences reverse. A valuation allowance is established to offset any deferred tax assets if, based upon the available evidence, it is more likely than not (i.e. greater than 50% likely) that some or all of the deferred tax assets will not be realized. The determination of the amount of a valuation allowance to be provided on recorded deferred tax assets involves estimates regarding (1) the timing and amount of the reversal of taxable temporary differences, (2) expected future taxable income, (3) the impact of tax planning strategies and (4) the ability to carry back deferred tax assets to offset prior taxable income. In assessing the need for a valuation allowance, we consider all available positive and negative evidence, including past operating results, projections of future taxable income and the feasibility of ongoing tax planning strategies. The projections of future taxable income include a number of estimates and assumptions regarding our volume, pricing and costs. Additionally, valuation allowances related to deferred tax assets can be impacted by changes to tax laws. Significant judgment is required in determining income tax provisions as well as deferred tax asset and liability balances, including the estimation of valuation allowances and the evaluation of uncertain tax positions.Earnings from the Company's foreign subsidiaries are considered to be indefinitely reinvested. A distribution of these non-U.S. earnings in the form of dividends or otherwise would subject the Company to foreign withholding taxes and may subject the Company to U.S. federal and state taxes.The Company recognizes the benefit of tax positions when a benefit is more likely than not (i.e., greater than 50% likely) to be sustained on its technical merits. Recognized tax benefits are measured at the largest amount that is more likely than not to be sustained, based on cumulative probability, in final settlement of the position. The Company recognizes interest and penalties related to unrecognized tax benefits as a component of Income tax expense in the Consolidated Statements of Income and Comprehensive Income.
Leases	Leases are categorized as either operating or financing leases at commencement. For both classes of leases, a Right Of Use ("ROU") asset and corresponding lease liability are recognized at commencement. Operating leases consist of the Company headquarters, distribution centers, and Bolt branches. Financing leases consist of equipment such as forklifts and copiers. The value of the lease assets and liabilities are the present value of the total cash payments for each lease. The Company uses its incremental borrowing rate to discount the total cash payments to present value for each lease. The Company will review each lease to determine if there is a more appropriate discount rate to apply. Upon commencement, rent expense is recognized on a straight line basis for each operating lease. Each financing lease ROU asset is amortized on a straight line basis over the lease period. Prior to acquisition, Partsmaster participated in a leasing program where they actively leased parts washer machines to customers. The Company will continue the leasing program for the foreseeable future. These leases are classified as operating leases. The leased machines are recognized as a component of Property, plant and equipment in the Consolidated Balance Sheets and the leasing revenue is recognized on a straight line basis.
Earnings per Share	Basic earnings per share is computed by dividing net income by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the potential dilution from the exercise or conversion of outstanding stock options, market stock units and restricted stock awards into common stock. For the years ended December 31, 2021 and December 31, 2020 no options to purchase shares of common stock were excluded from the computation of diluted earnings per share because all of the options were in the money.
Foreign Currency	The accounts of foreign subsidiaries are measured using the local currency as the functional currency. All balance sheet amounts are translated into U.S. dollars using the exchange rates in effect at the applicable period end. Components of income or loss are translated using the average exchange rate for each reporting period. Gains and losses resulting from changes in the exchange rates from translation of the subsidiary accounts in local currency to U.S. dollars are reported as a component of Accumulated other comprehensive income or loss in the Consolidated Balance Sheets. Gains and losses resulting from the effect of exchange rate changes on transactions denominated in currencies other than the functional currency are included as a component of net income or loss upon settlement of the transaction. Gains and losses resulting from foreign intercompany transactions are included as a component of net income or loss each reporting period unless the transactions are of a long-term-investment nature and settlement is not planned or anticipated in the foreseeable future, in which case the gains and losses are recorded as a component of Accumulated other comprehensive income or loss in the Consolidated Balance Sheets.
Treasury Stock	The Company accounts for treasury stock using the cost method and includes treasury stock as a component of stockholders’ equity.
Acquisitions	The Company recognizes identifiable assets acquired and liabilities assumed at their acquisition date fair values. Goodwill as of the acquisition date is measured as the excess of consideration transferred over the net of the acquisition date fair values of the assets acquired and the liabilities assumed. While the Company uses its best estimates and assumptions for the purchase price allocation process to value assets acquired and liabilities assumed at the acquisition date, the estimates are inherently uncertain and subject to refinement. As a result, during the measurement period, which may be up to one year from the acquisition date, the Company may record adjustments to the assets acquired and liabilities assumed, with the corresponding offset to goodwill.
Use of Estimates	Preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the amounts reported for service revenue, service cost, allowance for doubtful accounts, inventory reserves, goodwill and intangible assets valuation, and income taxes in the consolidated financial statements and accompanying notes. Actual results could differ from these estimates.
Recent Accounting Pronouncements - Not Yet Adopted	In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which revises the requirements for how an entity should measure credit losses on financial instruments. The pronouncement is effective for smaller reporting companies in fiscal years beginning after December 15, 2023, including interim periods within those fiscal years, and the new guidance will be applied on a prospective basis. The Company is still evaluating the effect the adoption of the new standard will have on its financial statements.

Acquisition (Tables)

12 Months Ended

Dec. 31, 2021

Business Combinations [Abstract]

Summary of Purchase Price Allocation to Acquisition

A summary of the purchase price allocation of the acquisition is as follows (Dollars in thousands):


Cash paid and liabilities assumed
Cash paid	$	34,523
Accounts payable and accrued expenses	4,086
Lease obligation	620
Deferred compensation	2,938
	$	42,167
Fair value of assets acquired
Goodwill	$	15,816
Inventories	7,797
Accounts receivable	7,706
Customer relationships	4,961
Trade names	2,775
Property, plant and equipment	2,121
Right of use asset	620
Other assets	371
	$	42,167

Revenue Recognition (Tables)

12 Months Ended

Dec. 31, 2021

Revenue from Contract with Customer [Abstract]

Disaggregation of Revenue

Disaggregated revenue by product type follows:


	Unaudited
	Year Ended December 31,
Product Category	2021	2020
Fastening systems	22%	22%
Cutting tools and abrasives	15%	14%
Fluid power	13%	13%
Specialty chemicals	10%	11%
Electrical	10%	10%
Aftermarket automotive supplies	7%	7%
Safety	5%	6%
Welding and metal repair	2%	2%
Other	16%	15%
	100%	100%

Inventories, net (Tables)

12 Months Ended

Dec. 31, 2021

Inventory Disclosure [Abstract]

Components of Inventories

Inventories, net, consisting primarily of purchased goods which are offered for resale, were as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Inventories, gross	$	81,569	$	67,137
Reserve for obsolete and excess inventory	(7,720)		(5,270)
Inventories, net	$	73,849	$	61,867

Property, Plant and Equipment (Tables)

12 Months Ended

Dec. 31, 2021

Property, Plant and Equipment [Abstract]

Components of Property, Plant and Equipment

Components of property, plant and equipment were as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Land	$	2,660	$	2,650
Buildings and improvements	16,228		15,765
Machinery and equipment	27,971		26,814
Capitalized software	21,715		23,013
Furniture and fixtures	5,855		5,725
Vehicles	196		151
Construction in progress	5,964		752
	80,589		74,870
Accumulated depreciation and amortization	(61,761)		(59,070)
	$	18,828	$	15,800

Goodwill (Tables)

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill Activity Related to Acquisitions

Goodwill activity related to acquisitions is included in the table below:


	(Dollars in Thousands)
	Goodwill By Reportable Segment
	Lawson		Bolt		Total
Beginning balance January 1, 2020	$	7,369	$	13,554	$	20,923
Impact of foreign exchange	85		270		355
Acquisition (1)	15,816		—		15,816
Impairment (2)	(1,918)		—		(1,918)
Balance at December 31, 2020	21,352		13,824		35,176

Impact of foreign exchange	32		105		137
Balance at December 31, 2021	$	21,384	$	13,929	$	35,313

(1) The $15.8 million addition to goodwill in 2020 was due to the allocation of the purchase price from the Partsmaster acquisition.

Intangible assets (Tables)

12 Months Ended

Dec. 31, 2021

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Gross Carrying Amount and Accumulated Amortization by Intangible Asset Class

The gross carrying amount and accumulated amortization by intangible asset class were as follows:


	(Dollars in thousands)						(Dollars in thousands)
	December 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Carrying Value		Gross Carrying Amount		Accumulated Amortization		Net Carrying Value
Trade names	$	11,388	$	(3,866)	$	7,522	$	11,289	$	(2,733)	$	8,556
Customer relationships	12,427		(3,784)		8,643		12,349		(2,402)		9,947
	$	23,815	$	(7,650)	$	16,165	$	23,638	$	(5,135)	$	18,503

Schedule of Estimated Aggregate Amortization Expense for Next Five Years

The estimated aggregate amortization expense for each of the next five years are as follows:


	(Dollars in thousands)
Year	Amortization
2022	$	2,649
2023	2,584
2024	2,482
2025	2,145
2026	1,566
Thereafter	4,739
	$	16,165

Income Taxes (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Income From Continuing Operations Before Income Taxes

Income from operations before income taxes consisted of the following:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
United States	$	5,421	$	16,226
Canada	6,498		4,559
Total	$	11,919	$	20,785

Components of Provision (Benefit) for Income Taxes

Provision (benefit) for income taxes from operations for the years ended December 31, consisted of the following:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Current income tax expense:
U.S. federal	$	3,042	$	3,858
U.S. state	777		710
Canada	1,133		1,288
Total	$	4,952	$	5,856
Deferred income tax expense (benefit):
U.S. federal	$	(817)	$	236
U.S. state	(394)		52
Canada	(1,228)		(472)
Total	$	(2,439)	$	(184)
Total income tax expense (benefit):
U.S. federal	$	2,225	$	4,094
U.S. state	383		762
Canada	(95)		816
Total	$	2,513	$	5,672

Reconciliation Between Effective Income Tax Rate and Statutory Federal Rate

The reconciliation between the effective income tax rates and the statutory federal rates for operations are as follows:


	Year Ended December 31,
	2021		2020
Statutory Federal rate	21.0	%	21.0	%
Increase (decrease) resulting from:
Change in valuation allowance - current period activity	—		(2.2)
Change in valuation allowance - reversal	(10.3)		—
Foreign rate differential	1.9		—
Stock compensation	(3.7)		(2.0)
Compensation deduction limitation	0.9		1.5
State and local taxes, net	3.3		3.8
Asset basis true-up	5.5		—
Meals & entertainment	1.2		0.6
Change in uncertain tax positions	0.4		4.6
Provision to return differences	0.2		(0.1)
Other items, net	0.7		0.1
Provision for income taxes	21.1	%	27.3	%

Deferred Tax Assets and Liabilities

Deferred income tax assets and liabilities contain the following temporary differences:


	(Dollars in thousands)
	December 31,
	2021		2020
Deferred tax assets:
Net operating loss carryforward	$	4,073	$	5,431
Compensation and benefits	11,407		10,980
Inventory reserve	2,222		1,772
Transaction costs	2,077		—
Accounts receivable reserve	203		167
Leased assets	1,302		1,061
Property, plant & equipment	2,046		—
Intangible assets	202		—
Other	58		329
Total deferred tax assets	23,590		19,740

Deferred tax liabilities:
Intangible assets and goodwill	1,771		1,948
Lease liabilities	2,647		1,366
Property, plant and equipment	134		(975)
Other	598		503
Total deferred liabilities	5,150		2,842

Net deferred tax assets before valuation allowance	18,440		16,898
Valuation allowance	—		(1,257)

Net deferred tax assets	$	18,440	$	15,641

Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:


	(Dollars in thousands)
	December 31,
	2021		2020
Balance at beginning of year	$	3,686	$	3,242
Additions for tax positions of current year	—		15
Additions for tax positions of prior years	554		1,413
Reductions for tax positions of prior year	—		—
Lapse of statute of limitations	(539)		(984)
Balance at end of year	$	3,701	$	3,686

Accrued Expenses and Other Liabilities (Tables)

12 Months Ended

Dec. 31, 2021

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

Accrued expenses and other liabilities consisted of the following:


	(Dollars in thousands)
	December 31,
	2021		2020

Accrued stock-based compensation (stock performance rights)	$	16,732	$	14,437
Accrued compensation	10,199		9,794
Accrued and withheld taxes, other than income taxes	4,113		3,788
Accrued costs related to merger agreements	3,103		—
Accrued profit sharing	212		240
Accrued severance	192		1,103
Deferred revenue	800		822
Accrued health benefits	614		732
Other	10,723		7,576
	$	46,688	$	38,492

Leases (Tables)

12 Months Ended

Dec. 31, 2021

Leases [Abstract]

Lease Cost

The expenses generated by the leasing activity of Lawson as lessee for the years ended December 31, 2021 and December 31, 2020 were as follows:


		(Dollars in Thousands)
		Year Ended December 31,
Lease Type	Classification	2021		2020

Consolidated Operating Lease Expense (1)	Operating expenses	$	5,881	$	4,999

Consolidated Financing Lease Amortization	Operating expenses	192		226
Consolidated Financing Lease Interest	Interest expense	15		28
Consolidated Financing Lease Expense		207		254
Net Lease Cost		$	6,088	$	5,253

(1) Includes short term lease expense, which is immaterial

The weighted average lease terms and interest rates of the leases held by Lawson as of December 31, 2021 are as follows:


Lease Type	Weighted Average Term in Years	Weighted Average Interest Rate

Operating Leases	4.5	4.1%
Financing Leases	2.1	4.8%

The cash outflows of the leasing activity of Lawson as lessee for the year ending December 31, 2021 are as follows (Dollars in thousands):

Cash Flow Source

Classification

Amount

Operating cash flows from operating leases

Operating activities

4,846

Operating cash flows from financing leases

Operating activities

Financing cash flows from financing leases

Financing activities

222

Schedule of Assets and Liabilities

The value of the net assets and liabilities generated by the leasing activity of Lawson as lessee as of December 31, 2021 and December 31, 2020 were as follows:


	(Dollars in Thousands)
	Year Ended December 31,
Lease Type	2021		2020

Total ROU operating lease assets (1)	$	13,662	$	8,246
Total ROU financing lease assets (2)	383		518
Total lease assets	$	14,045	$	8,764

Total current operating lease obligation	$	4,313	$	4,360
Total current financing lease obligation	154		208
Total current lease obligations	$	4,467	$	4,568

Total long term operating lease obligation	$	10,713	$	5,498
Total long term financing lease obligation	128		240
Total long term lease obligation	$	10,841	$	5,738

(1) Operating lease assets are recorded net of accumulated amortization of $8.0 million and $5.9 million as of December 31, 2021 and December 31, 2020, respectively

(2) Financing lease assets are recorded net of accumulated amortization of $0.6 million and $0.4 million as of December 31, 2021 and December 31, 2020, respectively

Value of Lease Liabilities

The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of December 31, 2021 were as follows (Dollars in thousands):


Year Ended December 31,	Operating Leases		Financing Leases		Total

2022	$	4,725	$	165	$	4,890
2023	3,944		100		4,044
2024	3,015		30		3,045
2025	1,739		—		1,739
2026	724		—		724
Thereafter	1,983		—		1,983
Total lease payments	16,130		295		16,425
Less: Interest	1,104		13		1,117
Present value of lease liabilities	$	15,026	$	282	$	15,308

(1) Of the $16.1 million future minimum operating lease commitments outstanding at December 31, 2021, $1.3 million relates to a lease for the Company's headquarters which expires in March 2023

(2) The Company has an operating lease for the McCook Facility which expires in June 2025 and includes future minimum lease payments of $6.5 million

Value of Lease Liabilities

The value of the lease liabilities generated by the leasing activities of Lawson as lessee as of December 31, 2021 were as follows (Dollars in thousands):


Year Ended December 31,	Operating Leases		Financing Leases		Total

2022	$	4,725	$	165	$	4,890
2023	3,944		100		4,044
2024	3,015		30		3,045
2025	1,739		—		1,739
2026	724		—		724
Thereafter	1,983		—		1,983
Total lease payments	16,130		295		16,425
Less: Interest	1,104		13		1,117
Present value of lease liabilities	$	15,026	$	282	$	15,308

(1) Of the $16.1 million future minimum operating lease commitments outstanding at December 31, 2021, $1.3 million relates to a lease for the Company's headquarters which expires in March 2023

(2) The Company has an operating lease for the McCook Facility which expires in June 2025 and includes future minimum lease payments of $6.5 million

Reserve for Severance (Tables)

12 Months Ended

Dec. 31, 2021

Severance Reserve [Abstract]

Changes in the Reserve for Severance

The table below reflects the activity in the Company’s reserve for severance and related payments.


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Beginning balance	$	1,251	$	909
Charged to earnings	264		2,077
Cash paid	(1,323)		(1,735)
Ending balance	$	192	$	1,251

Stock-Based Compensation Plans (Tables)

12 Months Ended

Dec. 31, 2021

Share-based Payment Arrangement [Abstract]

Valuation Assumptions

The weighted-average estimated value of SPRs outstanding as of December 31, 2021 was $26.66 per SPR using the following assumptions:


Expected volatility			30.3% to 53.7%
Risk-free rate of return			0.2% to 0.9%
Expected term (in years)			0.1 to 2.5
Expected annual dividend			$0

Activity Related to SPRs

Activity related to the Company’s SPRs during the year ended December 31, 2021 was as follows:


	Number of SPRs	Weighted Average Exercise Price
Outstanding on December 31, 2020	581,000	$	26.88
Exercised	(4,464)	55.46
Outstanding on December 31, 2021	576,536	26.66

Exercisable on December 31, 2021	576,536	$	26.66

Activity Related to RSAs

Activity related to the Company’s RSAs during the year ended December 31, 2021 was as follows:


			Restricted Stock Awards
Outstanding on December 31, 2020			45,799
Granted			59,091
Exchanged for common shares			(32,661)
Outstanding on December 31, 2021			72,229

MSU Rollforward

Activity related to the Company’s MSUs during the year ended December 31, 2021 was as follows:


	Number of Market Stock Units	Maximum Shares Potentially Issuable
Outstanding on December 31, 2020	137,256	195,723
Granted	19,688	29,568
Exchanged for stock	(28,804)	(42,811)
Outstanding on December 31, 2021	128,140	182,480

Share-based Payment Arrangement, Performance Shares, Activity

Activity related to the Company’s PAs during the year ended December 31, 2021 was as follows:


	Number of Performance Awards	Maximum Shares Potentially Issuable
Outstanding on December 31, 2020	10,852	16,278
Granted	15,723	23,585
Outstanding on December 31, 2021	26,575	39,863

Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Segment Reporting [Abstract]

Schedule of Financial Information for the Company's Reportable Segments

Financial information for the Company's reportable segments follows:


	(Dollars in thousands)
	Year Ended December 31,
	2021		2020
Net sales
Lawson	$	371,668	$	312,803
Bolt	46,065		38,788
Consolidated total	$	417,733	$	351,591

Gross profit
Lawson	$	200,475	$	171,258
Bolt	18,760		15,280
Consolidated total	$	219,235	$	186,538

Operating Income
Lawson	$	8,193	$	17,715
Bolt	3,794		2,835
Consolidated total	11,987		20,550

Interest expense	(869)		(654)
Other income, net	801		889
Income before income taxes	$	11,919	$	20,785

Capital expenditures
Lawson	$	7,460	$	1,529
Bolt	733		158
Consolidated total	$	8,193	$	1,687

Depreciation and amortization
Lawson	$	6,736	$	5,343
Bolt	1,605		1,358
Consolidated total	$	8,341	$	6,701

Total assets
Lawson	$	217,856	$	221,490
Bolt	47,085		43,533
Investment in Subsidiary	(8,784)		(8,719)
Consolidated total	$	256,157	$	256,304

Financial information by Geographic Area, Continuing Operations

Financial information related to the Company’s operations by geographic area follows:


	(Dollars in Thousands)
	Year Ended December 31,
	2021		2020
Net sales (1)
United States	$	337,981	$	283,261
Canada	79,752		68,330
Consolidated total	$	417,733	$	351,591

Long-lived assets (2)
United States	$	50,491	$	44,395
Canada	34,206		34,180
Consolidated total	$	84,697	$	78,575

(1) Net sales are attributed to countries based on the location of customers.

(2) Long-lived assets primarily consist of property, plant and equipment, goodwill, intangibles, right of use assets and other assets.

Description of Business (Details)	3 Months Ended	12 Months Ended
Description of Business (Details)	Dec. 31, 2022 USD ($)	Dec. 31, 2022 earnout shares	Dec. 31, 2021 segment branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments \| segment			2
Number of branches \| branch			14
TestEquity and Gexpro Services \| Forecast \| Subsequent Event
Business Combination, Separately Recognized Transactions [Line Items]
Shares issued in acquisition (in shares)		12,000,000
TestEquity \| Forecast \| Subsequent Event
Business Combination, Separately Recognized Transactions [Line Items]
Shares issued in acquisition (in shares)		3,300,000
Additional shares issued in acquisition (in shares)		700,000
Termination fee \| $	$ 4,000,000
Gexpro Services \| Forecast \| Subsequent Event
Business Combination, Separately Recognized Transactions [Line Items]
Shares issued in acquisition (in shares)		7,000,000
Additional shares issued in acquisition (in shares)		1,000,000
Number of earnout mechanisms \| earnout		2
Termination fee \| $	$ 6,000,000

Summary of Significant Accounting Policies (Details)	12 Months Ended
Summary of Significant Accounting Policies (Details)	Dec. 31, 2021 USD ($) revenueStream reportingUnit shares	Dec. 31, 2020 USD ($) shares	Dec. 31, 2019 USD ($)
Property, Plant and Equipment [Line Items]
Number of revenue streams \| revenueStream	2
Depreciation	$ 5,000,000	$ 4,400,000
Amortization expense of capitalized software	800,000	600,000
Goodwill	$ 35,313,000	35,176,000	$ 20,923,000
Number of reporting units \| reportingUnit	4
Impairment of long-lived assets	$ 0	$ 0
Treasury stock acquired (in shares) \| shares	0	47,504
Shares paid for tax withholding for share based compensation (in shares) \| shares	20,923	32,682
Cost of treasury stock repurchased	$ 1,018,000	$ 3,254,000
Treasury Stock
Property, Plant and Equipment [Line Items]
Cost of treasury stock repurchased	$ 1,018,000	$ 3,254,000
Trade names
Property, Plant and Equipment [Line Items]
Weighted average amortization period (in years)	12 years
Customer relationships
Property, Plant and Equipment [Line Items]
Weighted average amortization period (in years)	11 years
Minimum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	20 years
Minimum \| Machinery and equipment, furniture and fixtures, and vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Minimum \| Capitalized software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	3 years
Maximum \| Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	40 years
Maximum \| Machinery and equipment, furniture and fixtures, and vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	10 years
Maximum \| Capitalized software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, useful life (in years)	5 years

Acquisition - Narrative (Details) customer in Thousands, $ in Thousands		1 Months Ended	12 Months Ended
	Aug. 31, 2020 USD ($) customer sale_representative	May 31, 2021 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2019 USD ($)
Business Acquisition [Line Items]
Payments for purchase			$ 33,000	$ 2,300
Accrued acquisition liability			0	32,673
Interest expense			869	654
Goodwill			35,313	35,176	$ 20,923
Revenue			396,700	16,500
Partsmaster
Business Acquisition [Line Items]
Number of customers \| customer	16
Number of sales representatives \| sale_representative	200
Purchase price	$ 35,300
Payments for purchase	2,300	$ 33,000
Accrued acquisition liability		$ 32,700	32,700
Interest expense			300
Goodwill	15,816
Revenue since acquisition			57,800	22,600
Net income			$ 1,600	$ 800
Partsmaster \| Customer relationships
Business Acquisition [Line Items]
Intangibles	$ 4,961
Intangibles weighted average life (in years)	10 years
Partsmaster \| Trade names
Business Acquisition [Line Items]
Intangibles	$ 2,775
Intangibles weighted average life (in years)	5 years

Acquisition - Purchase Price Allocation (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Aug. 31, 2020	Dec. 31, 2019
Fair value of assets acquired
Goodwill	$ 35,313	$ 35,176		$ 20,923
Right of use asset			$ 620
Partsmaster
Cash paid and liabilities assumed
Cash paid			34,523
Accounts payable and accrued expenses			4,086
Lease obligation			620
Deferred compensation			2,938
Cash paid and payable and liabilities assumed			42,167
Fair value of assets acquired
Goodwill			15,816
Inventories			7,797
Accounts receivable			7,706
Property, plant and equipment			2,121
Other assets			371
Fair value of assets acquired			42,167
Partsmaster \| Customer relationships
Fair value of assets acquired
Intangibles			4,961
Partsmaster \| Trade names
Fair value of assets acquired
Intangibles			$ 2,775

Revenue Recognition - Narrative (Details) $ in Millions	4 Months Ended	12 Months Ended
Revenue Recognition - Narrative (Details) $ in Millions	Dec. 31, 2020 USD ($)	Dec. 31, 2021 USD ($) segment revenueStream performanceObligation
Revenue from Contract with Customer [Abstract]
Number of performance obligations \| performanceObligation		2
Number of revenue streams \| revenueStream		2
Number of operating segments \| segment		2
Revenue generated by operating leases acquired in acquisition	$ 0.9	$ 3.5
Carrying value of Torrents lease		$ 1.2

Revenue Recognition - Disaggregation of Revenue (Details) - Product Concentration Risk - Revenue from Contract with Customer Benchmark	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	100.00%	100.00%
Fastening systems
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	22.00%	22.00%
Cutting tools and abrasives
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	15.00%	14.00%
Fluid power
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	13.00%	13.00%
Specialty chemicals
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	10.00%	11.00%
Electrical
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	10.00%	10.00%
Aftermarket automotive supplies
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	7.00%	7.00%
Safety
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	5.00%	6.00%
Welding and metal repair
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	2.00%	2.00%
Other
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	16.00%	15.00%

Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Restricted Cash [Abstract]
Restricted cash	$ 198	$ 998
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	198	$ 998
Guaranteed Investment Certificate
Restricted Cash [Abstract]
Restricted cash	200
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	200
Money Market Funds
Restricted Cash [Abstract]
Restricted cash	800
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 800

Inventories, net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Components of inventories
Inventories, gross	$ 81,569	$ 67,137
Reserve for obsolete and excess inventory	(7,720)	(5,270)
Inventories, net	$ 73,849	$ 61,867

Property, Plant and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 80,589	$ 74,870
Accumulated depreciation and amortization	(61,761)	(59,070)
Property, plant and equipment, less accumulated depreciation and amortization	18,828	15,800
Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	2,660	2,650
Buildings and improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	16,228	15,765
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	27,971	26,814
Capitalized software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	21,715	23,013
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	5,855	5,725
Vehicles
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	196	151
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 5,964	$ 752

Goodwill (Details) - USD ($) $ in Thousands	12 Months Ended
Goodwill (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 35,176	$ 20,923
Impact of foreign exchange	137	355
Acquisition		15,816
Impairment	0	(1,918)
Goodwill, ending balance	35,313	35,176
Lawson
Goodwill [Roll Forward]
Goodwill, beginning balance	21,352	7,369
Impact of foreign exchange	32	85
Acquisition		15,816
Impairment		(1,918)
Goodwill, ending balance	21,384	21,352
Bolt
Goodwill [Roll Forward]
Goodwill, beginning balance	13,824	13,554
Impact of foreign exchange	105	270
Acquisition		0
Impairment		0
Goodwill, ending balance	$ 13,929	$ 13,824

Intangible assets - Schedule of Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	$ 23,815	$ 23,638
Accumulated Amortization	(7,650)	(5,135)
Net Carrying Value	16,165	18,503
Trade names
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	11,388	11,289
Accumulated Amortization	(3,866)	(2,733)
Net Carrying Value	7,522	8,556
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Amount	12,427	12,349
Accumulated Amortization	(3,784)	(2,402)
Net Carrying Value	$ 8,643	$ 9,947

Intangible assets - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expense	$ 2.5	$ 1.7

Intangible assets - Future Amortization Schedule (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2022	$ 2,649
2023	2,584
2024	2,482
2025	2,145
2026	1,566
Thereafter	4,739
Net Carrying Value	$ 16,165	$ 18,503

Income Taxes - Components of Income Tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income (loss) from continuing operations before income taxes
United States	$ 5,421	$ 16,226
Canada	6,498	4,559
Income before income taxes	$ 11,919	$ 20,785

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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+ Details

Income Taxes - Provision (Benefit) for Income taxes from Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Current income tax expense:
U.S. federal	$ 3,042	$ 3,858
U.S. state	777	710
Canada	1,133	1,288
Total	4,952	5,856
Deferred income tax expense (benefit):
U.S. federal	(817)	236
U.S. state	(394)	52
Canada	(1,228)	(472)
Total	(2,439)	(184)
Total income tax expense (benefit):
U.S. federal	2,225	4,094
U.S. state	383	762
Canada	(95)	816
Total	$ 2,513	$ 5,672

Income Taxes - Reconciliation of Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory Federal rate	21.00%	21.00%
Increase (decrease) resulting from:
Change in valuation allowance	(10.30%)	(2.20%)
Foreign rate differential	1.90%	0.00%
Stock compensation	(3.70%)	(2.00%)
Compensation deduction limitation	0.90%	1.50%
State and local taxes, net	3.30%	3.80%
Asset basis true-up	5.50%	0.00%
Meals & entertainment	1.20%	0.60%
Change in uncertain tax positions	0.40%	4.60%
Provision to return differences	0.20%	(0.10%)
Other items, net	0.70%	0.10%
Provision for income taxes	21.10%	27.30%

Income Taxes - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
Income Taxes - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
US federal net operating loss carryforwards	$ 3.5
Various state net operating loss carryforwards	6.5
Tax deductible goodwill	21.4
Income Tax Contingency [Line Items]
Unrecognized tax benefits, including interest and net operating losses	3.9	$ 3.7
Canada
Income Tax Contingency [Line Items]
Valuation allowance released	$ (1.2)

Income Taxes - Components of Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Deferred tax assets:
Net operating loss carryforward	$ 4,073	$ 5,431
Compensation and benefits	11,407	10,980
Inventory reserve	2,222	1,772
Transaction costs	2,077	0
Accounts receivable reserve	203	167
Leased assets	1,302	1,061
Property, plant & equipment	2,046	0
Intangible assets	202	0
Other	58	329
Total deferred tax assets	23,590	19,740
Deferred tax liabilities:
Intangible assets and goodwill	1,771	1,948
Lease liabilities	2,647	1,366
Property, plant and equipment	134	(975)
Other	598	503
Total deferred liabilities	5,150	2,842
Net deferred assets before valuation allowance	18,440	16,898
Valuation allowance	0	(1,257)
Net deferred assets	$ 18,440	$ 15,641

Income Taxes - Reconciliation of Unrecognized Tax Benefits (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at beginning of year	$ 3,686	$ 3,242
Additions for tax positions of current year	0	15
Additions for tax positions of prior years	554	1,413
Reductions for tax positions of prior year	0	0
Lapse of statute of limitations	(539)	(984)
Balance at end of year	$ 3,701	$ 3,686

Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accrued stock-based compensation (stock performance rights)	$ 16,732	$ 14,437
Accrued compensation	10,199	9,794
Accrued and withheld taxes, other than income taxes	4,113	3,788
Accrued costs related to merger agreements	3,103	0
Accrued profit sharing	212	240
Accrued severance	192	1,103
Deferred revenue	800	822
Accrued health benefits	614	732
Other	10,723	7,576
Total accrued liabilities	$ 46,688	$ 38,492

Leases - Net Lease Cost (Details) - USD ($) $ in Thousands	12 Months Ended
Leases - Net Lease Cost (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Consolidated Operating Lease Expense	$ 4,999	$ 5,881
Consolidated Financing Lease Amortization	226	192
Consolidated Financing Lease Interest	28	15
Consolidated Financing Lease Expense	254	207
Net Lease Cost	$ 5,253	$ 6,088

Leases - Net Lease Assets and Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Total ROU operating lease assets	$ 13,662	$ 8,246
Total ROU financing lease assets	383	518
Total lease assets	$ 14,045	$ 8,764
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total lease assets	Total lease assets
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total lease assets	Total lease assets
Total current operating lease obligation	$ 4,313	$ 4,360
Total current financing lease obligation	154	208
Total current lease obligations	$ 4,467	$ 4,568
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total current lease obligations	Total current lease obligations
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Total current lease obligations	Total current lease obligations
Total long term operating lease obligation	$ 10,713	$ 5,498
Total long term financing lease obligation	128	240
Total long term lease obligation	$ 10,841	$ 5,738
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long term lease obligation	Total long term lease obligation
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Total long term lease obligation	Total long term lease obligation
Operating lease accumulated depreciation	$ 8,000	$ 5,900
Finance lease accumulated depreciation	$ 600	$ 400

Leases - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
2022	$ 4,725
2023	3,944
2024	3,015
2025	1,739
2026	724
Thereafter	1,983
Total lease payments	16,130
Less: Interest	1,104
Present value of lease liabilities	15,026
Financing Leases
2022	165
2023	100
2024	30
2025	0
2026	0
Thereafter	0
Total lease payments	295
Less: Interest	13
Present value of lease liabilities	282
Total
2022	4,890
2023	4,044
2024	3,045
2025	1,739
2026	724
Thereafter	1,983
Total lease payments	16,425
Less: Interest	1,117
Present value of lease liabilities	$ 15,308
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Lease obligation	Lease obligation
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Lease obligation	Lease obligation
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	laws:LeaseLiabilityNoncurrent	laws:LeaseLiabilityNoncurrent
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	laws:LeaseLiabilityNoncurrent	laws:LeaseLiabilityNoncurrent
Lessee, Lease, Description [Line Items]
Lease liability	$ 16,130
Company Headquarters
Operating Leases
Total lease payments	1,300
Lessee, Lease, Description [Line Items]
Lease liability	1,300
McCook facility
Operating Leases
Total lease payments	6,500
Lessee, Lease, Description [Line Items]
Lease liability	$ 6,500

Leases - Terms and Interest Rate (Details)	Dec. 31, 2021
Leases [Abstract]
Operating Leases, Weighted Average Term (in years)	4 years 6 months
Operating Leases, Weighted Average Interest Rate (as percent)	4.10%
Finance Leases, Weighted Average Term (in years)	2 years 1 month 6 days
Finance Leases, Weighted Average Interest Rate (as percent)	4.80%

Leases - Cash Flows (Details) $ in Thousands	12 Months Ended
Leases - Cash Flows (Details) $ in Thousands	Dec. 31, 2021 USD ($)
Leases [Abstract]
Operating cash flows from operating leases	$ 4,846
Operating cash flows from financing leases	15
Financing cash flows from financing leases	$ 222

Leases - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Lessee, Lease, Description [Line Items]
Renewal term (in years)		3 years
Operating ROU Asset	$ 13,662		$ 8,246
Operating lease liabilities	$ 15,026
Building
Lessee, Lease, Description [Line Items]
Operating ROU Asset		$ 5,300
Operating lease liabilities		$ 5,300

Credit Agreement (Details) - Line of Credit	12 Months Ended
Credit Agreement (Details) - Line of Credit	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2020 USD ($)	Dec. 31, 2019 USD ($)
Line of Credit Facility [Line Items]
Weighted average interest rate	5.02%	2.65%
Revolving Credit Facility
Line of Credit Facility [Line Items]
Credit facility, borrowing capacity		$ 100,000,000
Maximum borrowing capacity	$ 150,000,000
EBITDA To Fixed Charge Coverage Ratio	1.15
Total Net Leverage Ratio	3.25
Maximum total net leverage ratio	3.75
Default to other indebtedness	$ 5,000,000
Allowable indebtedness for acquisition			$ 36,000,000
Line of credit facility, remaining borrowing capacity	87,100,000	66,000,000
Commitment fee	300,000	300,000
Deferred financing costs incurred					$ 600,000
Deferred financing costs net of accumulated amortization	$ 300,000	$ 400,000
Letter of Credit
Line of Credit Facility [Line Items]
Letters of credit			$ 40,000,000	$ 15,000,000
Letter of Credit \| Minimum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.15%
Letter of Credit \| Maximum
Line of Credit Facility [Line Items]
Commitment fee percentage	0.30%

Accrued Acquisition Liability (Details) - USD ($) $ in Thousands		1 Months Ended	12 Months Ended
	Aug. 31, 2020	May 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Business Acquisition [Line Items]
Payments for purchase			$ 33,000	$ 2,300
Implied interest rate	1.80%
Accrued acquisition liability			0	$ 32,673
Interest expense			300
Partsmaster
Business Acquisition [Line Items]
Payments for purchase	$ 2,300	$ 33,000
Accrued acquisition liability		$ 32,700	$ 32,700

Reserve for Severance - Activity in Reserve (Details) - Employee Severance - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Reserve for severance and related payments
Balance at beginning of period	$ 1,251	$ 909
Charged to earnings	264	2,077
Cash paid	(1,323)	(1,735)
Balance at end of the period	$ 192	$ 1,251

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2021 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Accrued environmental matter costs	$ 0.1

Retirement and Security Bonus Plans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Retirement and Security Bonus Plans
Cash surrender value in life insurance of certain employees	$ 7,900
Total liability	123,150	$ 133,882
Current liabilities	72,244	97,995
Security bonus plan \| Certain Canadian Employees
Retirement and Security Bonus Plans
Expense recognized	300	200
Security bonus plan \| Certain Sales, Office and Warehouse Employees
Retirement and Security Bonus Plans
Expense recognized	200	200
Deferred Bonus
Retirement and Security Bonus Plans
Expense recognized	$ 200	300
Initial vesting percentage	25.00%
Minimum vesting period (in years)	5 years
Annual vesting percentage after initial period (as a percent)	5.00%
Total liability	$ 10,900
Current liabilities	300
Long-term liabilities	10,600
Postemployment Retirement Benefits
Retirement and Security Bonus Plans
401k Employer matching contributions	$ 3,500	$ 2,900

Stock-Based Compensation Plans - Plan Administration (Details) - 2009 Equity Compensation Plan	12 Months Ended
	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares)	164,000
Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan maximum share grants per year (in shares)	125,000
Share-based Payment Arrangement, Nonemployee \| Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation plan maximum share grants per year (in shares)	20,000

Stock-Based Compensation Plans - Stock Performance Rights (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Valuation assumptions:
Stock options expense	$ 0	$ 0
Cash paid out for SPR exercises	200,000	500,000
Liability reflecting estimated fair value of future pay-outs	$ 16,732,000	$ 14,437,000
Stock Performance Rights
Stock Performance Rights
Weighted average estimated value of SPRs outstanding (in USD per share)	$ 26.66
Valuation assumptions:
Expected volatility, minimum, percent	30.30%
Expected volatility, maximum, percent	53.70%
Risk-free rate of return, minimum	0.20%
Risk-free rate of return, maximum	0.90%
Expected annual dividend	$ 0
Stock options expense	2,100,000
Liability reflecting estimated fair value of future pay-outs	$ 16,700,000
Number of SPRs
Outstanding at beginning of period (in shares)	581,000
Exercised (in shares)	(4,464)
Outstanding at end of period (in shares)	576,536	581,000
Exercisable (in shares)	576,536
Weighted Average Exercise Price
Outstanding at beginning of period (in USD per share)	$ 26.66	$ 26.88
Exercised (in USD per share)		55.46
Outstanding at end of period (in USD per share)		26.66
Exercisable (in USD per share)		$ 26.66
SPRs outstanding, intrinsic value	$ 16,000,000
Shares vested (in shares)	8,460
Vested in period, fair value	$ 200,000
Weighted average remaining contractual term, SPRs outstanding (in years)	1 year 1 month 6 days
Stock Performance Rights \| Minimum
Stock Performance Rights
Expiration period (in years)	7 years
Award vesting period (in years)	1 year
Valuation assumptions:
Expected term (in years)	1 month 6 days
Stock Performance Rights \| Maximum
Stock Performance Rights
Award vesting period (in years)	3 years
Valuation assumptions:
Expected term (in years)	2 years 6 months
Stock options expense	$ (100,000)

Stock-Based Compensation Plans - Restricted Stock Awards (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 0	$ 0
Restricted stock awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 1,600,000	$ 1,200,000
Restricted Stock Awards
Outstanding at beginning of period (in shares)	45,799
Granted (in shares)	59,091
Exchanged for common shares (in shares)	(32,661)
Outstanding at end of period (in shares)	72,229	45,799
Total unrecognized compensation cost	$ 1,600,000
Unrecognized cost, period for recognition (in years)	1 year 6 months
Weighted average grant date fair value (in USD per share)	$ 48.86
Restricted stock awards \| 2009 Equity Compensation Plan \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	1 year
Restricted stock awards \| 2009 Equity Compensation Plan \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period (in years)	3 years

Stock-Based Compensation Plans - Market Stock Units (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 0	$ 0
Number of Market Stock Units
Outstanding at beginning of period (in shares)	137,256
Granted (in shares)	19,688
Exchanged for stock (in shares)	(28,804)
Outstanding at end of period (in shares)	128,140	137,256
MSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 700,000
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Shares From MSU Vest	0.00%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Potential Shares From MSU Vest	150.00%
Trading days	60 days
Number of Market Stock Units
Outstanding at beginning of period (in shares)	195,723
Granted (in shares)	29,568
Exchanged for stock (in shares)	(42,811)
Outstanding at end of period (in shares)	182,480	195,723

Stock-Based Compensation Plans - Stock Options (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock options expense	$ 0	$ 0
Unrecognized compensation expense	$ 0
Outstanding stock options (in shares)	80,000
Weighted average exercise price (in USD per share)	$ 27.70

Stock-Based Compensation Plans - Performance Awards (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 0	$ 0
PAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options expense	$ 400,000	$ 100,000
Number of Performance Awards
Outstanding at beginning of period (in shares)	10,852
Granted (in shares)	15,723
Outstanding at end of period (in shares)	26,575	10,852
PAs \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchangeable percentage (as a percent)	0.00%
PAs \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Exchangeable percentage (as a percent)	150.00%
Number of Performance Awards
Outstanding at beginning of period (in shares)	16,278
Granted (in shares)	23,585
Outstanding at end of period (in shares)	39,863	16,278

Segment Information - Reportable Segments (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021 USD ($) segment branch	Dec. 31, 2020 USD ($)
Segment Reporting Information [Line Items]
Number of branches \| branch	14
Revenue	$ 417,733	$ 351,591
Gross profit	219,235	186,538
Operating Income	11,987	20,550
Interest expense	(869)	(654)
Other income, net	801	889
Income before income taxes	11,919	20,785
Capital expenditures	8,193	1,687
Depreciation and amortization	8,341	6,701
Total assets	256,157	256,304
Equity Method Investments	(8,784)	(8,719)
Lawson
Segment Reporting Information [Line Items]
Revenue	371,668	312,803
Gross profit	200,475	171,258
Operating Income	8,193	17,715
Capital expenditures	7,460	1,529
Depreciation and amortization	6,736	5,343
Total assets	$ 217,856	221,490
Bolt
Segment Reporting Information [Line Items]
Number of branches \| segment	14
Revenue	$ 46,065	38,788
Gross profit	18,760	15,280
Operating Income	3,794	2,835
Capital expenditures	733	158
Depreciation and amortization	1,605	1,358
Total assets	$ 47,085	$ 43,533

Segment Information - Reportable Segments by Geographic Area (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenue	$ 417,733	$ 351,591
Long-lived assets	84,697	78,575
United States
Segment Reporting Information [Line Items]
Revenue	337,981	283,261
Long-lived assets	50,491	44,395
Canada
Segment Reporting Information [Line Items]
Revenue	79,752	68,330
Long-lived assets	$ 34,206	$ 34,180

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

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+ Details

Stock Repurchase Program (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Repurchase Agreements [Abstract]
Stock repurchase program, authorized amount			$ 7.5
Treasury stock acquired (in shares)	0	47,504
Treasury stock acquired (in USD per share)		$ 36.93
Available under stock plan	$ 4.5

Related Party Transactions (Details)	12 Months Ended
Related Party Transactions (Details)	Dec. 31, 2021 USD ($)	Dec. 29, 2021 agreement entity
Related Party Transactions [Abstract]
Inventory purchased from related party	$ 100,000
Related parties, liabilities	$ 0
Number of merger agreements \| agreement		2
Ownership entities \| entity		3

- Definition

Carrying amount as of the balance sheet date of obligations due all related parties.

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-Subparagraph (SX 210.13-01(a)(5))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442526-122756

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(4)(iv))
-URI http://asc.fasb.org/extlink&oid=124359900&loc=SL124442552-122756

Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 210
-Section S99
-Paragraph 1
-Subparagraph (SX 210.9-03.15(3),(4))
-URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 850
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=6457730&loc=d3e39549-107864

+ Details

COVID-19 Risks and Uncertainties (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2021	Dec. 31, 2020	Mar. 27, 2020
Risks and Uncertainties [Abstract]
Deferred employer side social security payments				$ 3.5
Payments of deferred Employer Payroll Tax, CARES Act	$ 1.7
Proceeds from subsidy		$ 0.2	$ 1.4

Schedule II - Valuation and Qualifying Accounts (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Allowance for doubtful accounts:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 654	$ 593
Charged to Costs and Expenses	504	578
Deductions	(360)	(517)
Balance at end of period	798	654
Valuation allowance for deferred tax assets:
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	1,257	1,235
Charged to Costs and Expenses	0	22
Deductions	(1,257)	0
Balance at end of period	$ 0	$ 1,257