Goodwill and Intangible Assets

3 Months Ended

Apr. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

GOODWILL AND INTANGIBLE ASSETS

Goodwill activity for each of the Company’s reportable segments that carry goodwill, Specialty Chemicals and Engineered Materials (“SCEM”), Microcontamination Control (“MC”) and Advanced Materials Handling (“AMH”), for each period was as follows:

(In thousands)	Specialty Chemicals and Engineered Materials		Microcontamination Control		Advanced Materials Handling		Total
December 31, 2020	$	427,713	$	247,154	$	73,170	$	748,037
Foreign currency translation	(31)		(488)		—		(519)
April 3, 2021	$	427,682	$	246,666	$	73,170	$	747,518

Identifiable intangible assets at April 3, 2021 and December 31, 2020 consist of the following:

April 3, 2021
(In thousands)	Gross  carrying Amount		Accumulated amortization		Net  carrying value
Developed technology	$	283,228	$	224,340	$	58,888
Trademarks and trade names	30,087		18,887		11,200
Customer relationships	449,606		201,743		247,863
Other	20,395		12,892		7,503
	$	783,316	$	457,862	$	325,454

December 31, 2020
(In thousands)	Gross  carrying amount		Accumulated amortization		Net  carrying value
Developed technology	$	283,272	$	221,651	$	61,621
Trademarks and trade names	30,100		18,374		11,726
Customer relationships	449,659		193,313		256,346
Other	20,396		12,457		7,939
	$	783,427	$	445,795	$	337,632

Future amortization expense during the remainder of 2021, each of the succeeding four years and thereafter relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at April 3, 2021:

(In thousands)	Remaining 2021		2022	2023	2024	2025	Thereafter	Total
Future amortization expense	$	36,332	47,602	46,913	34,294	27,663	132,650	$	325,454