GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

(5) GOODWILL AND INTANGIBLE ASSETS

Goodwill

The carrying amount of goodwill by segment as of March 30, 2024 and December 30, 2023 was as follows:

	Infrastructure		Agriculture		Total
Gross balance as of December 30, 2023	$	478,663	$	323,683	$	802,346
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of December 30, 2023		429,281		203,683		632,964
Acquisition measurement period adjustment		—		735		735
Foreign currency translation		(2,588)		(1,223)		(3,811)
Balance as of March 30, 2024	$	426,693	$	203,195	$	629,888

	Infrastructure		Agriculture		Total
Gross balance as of March 30, 2024	$	476,075	$	323,195	$	799,270
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of March 30, 2024	$	426,693	$	203,195	$	629,888

Intangible Assets

The components of intangible assets as of March 30, 2024 and December 30, 2023 were as follows:

	March 30, 2024				December 30, 2023
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizing intangible assets:
Customer relationships	$	232,253	$	160,181	$	233,852	$	157,873
Patents & proprietary technology		59,243		45,710		59,311		45,416
Trade names		2,870		1,160		2,870		1,056
Other		4,732		4,520		4,787		4,538
Non-amortizing intangible assets:
Trade names		58,312		—		58,750		—
	$	357,410	$	211,571	$	359,570	$	208,883

Amortizing intangible assets carry a remaining weighted-average life of approximately four years. Amortization expenses were $3,715 and $5,190 for the thirteen weeks ended March 30, 2024 and April 1, 2023, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of March 30, 2024, amortization expense is estimated to average $10,169 for each of the next five fiscal years.