Goodwill and Intangible Assets (Tables)

3 Months Ended

Apr. 01, 2022

The following table summarizes changes in goodwill during the three months ended April 1, 2022 (in thousands):

Balance at beginning of the period	$	479,500
Effect of foreign exchange rate changes		(3,705	)
Balance at end of the period	$	475,795

Goodwill by reportable segment as of April 1, 2022 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	212,591		$	159,438		$	254,995		$	627,024
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	110,130		$	127,716		$	237,949		$	475,795

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 as of April 1, 2022 and December 31, 2021, respectively, are summarized as follows (in thousands):

	April 1, 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	$	188,005	$	(124,548	)	$	63,457	$	189,609	$	(122,130	)	$	67,479
Customer relationships		226,555		(108,581	)		117,974		228,656		(104,386	)		124,270
Customer backlog		6,863		(4,004	)		2,859		6,862		(2,254	)		4,608
Trademarks and trade names		23,770		(12,632	)		11,138		23,976		(12,371	)		11,605
Amortizable intangible assets		445,193		(249,765	)		195,428		449,103		(241,141	)		207,962
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Totals	$	458,220	$	(249,765	)	$	208,455	$	462,130	$	(241,141	)	$	220,989

Amortization expense was as follows (in thousands):

	Three Months Ended
	April 1,		April 2,
	2022		2021
Amortization expense – cost of revenue	$	3,423	$	2,977
Amortization expense – operating expenses		7,342		3,575
Total amortization expense	$	10,765	$	6,552

Estimated amortization expense for each of the five succeeding years and thereafter as of April 1, 2022 was as follows (in thousands):