GOODWILL AND INTANGIBLE ASSETS

6 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

(5) GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

The carrying amount of goodwill by segment as of June 29, 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		(2,801)		(666)		(3,467)
Balance as of June 29, 2024	$	426,480	$	203,752	$	630,232

	Infrastructure		Agriculture		Total
Gross balance as of June 29, 2024	$	475,862	$	323,752	$	799,614
Accumulated impairment losses		(49,382)		(120,000)		(169,382)
Balance as of June 29, 2024	$	426,480	$	203,752	$	630,232

Other Intangible Assets

The components of other intangible assets as of June 29, 2024 and December 30, 2023 were as follows:

	June 29, 2024				December 30, 2023
	Gross				Gross
	Carrying		Accumulated		Carrying		Accumulated
	Amount		Amortization		Amount		Amortization
Amortizing intangible assets:
Customer relationships	$	232,263	$	162,853	$	233,852	$	157,873
Patents & proprietary technology		59,273		46,158		59,311		45,416
Trade names		2,870		1,265		2,870		1,056
Other		4,410		4,263		4,787		4,538
Non-amortizing intangible assets:
Trade names		58,250		—		58,750		—
	$	357,066	$	214,539	$	359,570	$	208,883

Amortizing intangible assets carry a remaining weighted-average life of approximately four years. Amortization expenses were $3,356 and $7,071 for the thirteen and twenty-six weeks ended June 29, 2024, respectively, and $5,225 and $10,415 for the thirteen and twenty-six weeks ended July 1, 2023, respectively. Based on amortizing intangible assets recognized in the Condensed Consolidated Balance Sheets as of June 29, 2024, amortization expense is estimated to average $10,164 for each of the next five fiscal years.