Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes changes in goodwill during the nine months ended September 30, 2022 (in thousands):

Balance at beginning of the period	$	479,500
Goodwill acquired from acquisitions		9,863
Effect of foreign exchange rate changes		(24,311	)
Balance at end of the period	$	465,052

Goodwill by Reportable Segment

Goodwill by reportable segment as of September 30, 2022 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	201,864		$	162,128		$	252,289		$	616,281
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	99,403		$	130,406		$	235,243		$	465,052

Goodwill by reportable segment as of December 31, 2021 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	214,564		$	160,675		$	255,490		$	630,729
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	112,103		$	128,953		$	238,444		$	479,500

Intangible Assets

Intangible assets as of September 30, 2022 and December 31, 2021, respectively, are summarized as follows (in thousands):

	September 30, 2022							December 31, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizable intangible assets:
Patents and developed technologies	$	178,968	$	(125,375	)	$	53,593	$	189,609	$	(122,130	)	$	67,479
Customer relationships		215,274		(112,689	)		102,585		228,656		(104,386	)		124,270
Customer backlog		6,795		(6,795	)		—		6,862		(2,254	)		4,608
Trademarks and trade names		22,644		(12,736	)		9,908		23,976		(12,371	)		11,605
Amortizable intangible assets		423,681		(257,595	)		166,086		449,103		(241,141	)		207,962
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Totals	$	436,708	$	(257,595	)	$	179,113	$	462,130	$	(241,141	)	$	220,989

Amortization Expense of Intangible Assets

Amortization expense was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	September 30,		October 1,		September 30,		October 1,
	2022		2021		2022		2021
Amortization expense – cost of revenue	$	3,247	$	3,316	$	10,004	$	9,275
Amortization expense – operating expenses		6,472		4,139		20,987		11,300
Total amortization expense	$	9,719	$	7,455	$	30,991	$	20,575

Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding years and thereafter as of September 30, 2022 was as follows (in thousands):

Year Ending December 31,	Cost of Revenue		Operating Expenses		Total
2022 (remainder of year)	$	3,186	$	5,242	$	8,428
2023		11,583		19,633		31,216
2024		9,434		16,467		25,901
2025		8,041		13,931		21,972
2026		6,750		11,835		18,585
Thereafter		14,599		45,385		59,984
Total	$	53,593	$	112,493	$	166,086