Goodwill and Intangible Assets (Tables)

6 Months Ended

Jul. 02, 2021

The following table summarizes changes in goodwill during the six months ended July 2, 2021 (in thousands):

Balance at beginning of the period	$	285,980
Effect of foreign exchange rate changes		(3,321	)
Balance at end of the period	$	282,659

Goodwill by reportable segment as of July 2, 2021 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	217,304		$	163,231		$	53,353		$	433,888
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	114,843		$	131,509		$	36,307		$	282,659

Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	218,517		$	165,195		$	53,497		$	437,209
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	116,056		$	133,473		$	36,451		$	285,980

Intangible assets as of July 2, 2021 and December 31, 2020, respectively, are summarized as follows (in thousands):

	July 2, 2021							December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizable intangible assets:
Patents and developed technologies	$	163,174	$	(116,078	)	$	47,096	$	164,430	$	(110,572	)	$	53,858
Customer relationships		165,963		(99,114	)		66,849		167,429		(92,892	)		74,537
Trademarks and trade names		18,271		(11,793	)		6,478		18,367		(11,268	)		7,099
Amortizable intangible assets		347,408		(226,985	)		120,423		350,226		(214,732	)		135,494
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Totals	$	360,435	$	(226,985	)	$	133,450	$	363,253	$	(214,732	)	$	148,521

Amortization expense was as follows (in thousands):

	Three Months Ended				Six Months Ended
	July 2,		July 3,		July 2,		July 3,
	2021		2020		2021		2020
Amortization expense – cost of revenue	$	2,982	$	2,716	$	5,959	$	5,450
Amortization expense – operating expenses		3,586		3,410		7,161		6,855
Total amortization expense	$	6,568	$	6,126	$	13,120	$	12,305

Estimated amortization expense for each of the five succeeding years and thereafter as of July 2, 2021 was as follows (in thousands):