Goodwill and Intangible Assets

3 Months Ended

Apr. 02, 2022

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, 2021	$	470,875	$	248,725	$	74,102	$	793,702
Purchase accounting adjustments	5		—		—		5
Foreign currency translation	(27)		181		—		154
April 2, 2022	$	470,853	$	248,906	$	74,102	$	793,861

Identifiable intangible assets at April 2, 2022 and December 31, 2021 consist of the following:

April 2, 2022
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	294,216	$	235,827	$	58,389
Trademarks and trade names	33,558		20,838		12,720
Customer relationships	481,693		236,317		245,376
Other	20,287		14,483		5,804
	$	829,754	$	507,465	$	322,289

December 31, 2021
(In thousands)	Gross carrying amount		Accumulated amortization		Net carrying value
Developed technology	$	293,982	$	232,722	$	61,260
Trademarks and trade names	33,553		20,340		13,213
Customer relationships	481,674		227,350		254,324
Other	20,505		14,189		6,316
	$	829,714	$	494,601	$	335,113

Future amortization expense during the remainder of 2022, 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 2, 2022:

(In thousands)	Remaining 2022		2023	2024	2025	2026	Thereafter	Total
Future amortization expense	$	38,262	50,280	37,490	31,129	28,901	136,227	$	322,289