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Goodwill and Intangible Assets
6 Months Ended
Jul. 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 MaterialsMicrocontamination ControlAdvanced Materials HandlingTotal
December 31, 2021$470,875 $248,725 $74,102 $793,702 
Purchase accounting adjustments— — 
Foreign currency translation(64)(4,103)— (4,167)
July 2, 2022$470,816 $244,622 $74,102 $789,540 
Identifiable intangible assets at July 2, 2022 and December 31, 2021 consist of the following:
July 2, 2022
(In thousands)Gross carrying
amount
Accumulated
amortization
Net carrying
value
Developed technology$293,829 $238,523 $55,306 
Trademarks and trade names33,442 21,290 12,152 
Customer relationships481,224 245,190 236,034 
Other20,287 14,908 5,379 
$828,782 $519,911 $308,871 
December 31, 2021
(In thousands)Gross carrying
amount
Accumulated
amortization
Net carrying
value
Developed technology$293,982 $232,722 $61,260 
Trademarks and trade names33,553 20,340 13,213 
Customer relationships481,674 227,350 254,324 
Other20,505 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 July 2, 2022:
(In thousands)Remaining 20222023202420252026ThereafterTotal
Future amortization expense$25,553 50,280 37,490 31,129 28,901 135,518 $308,871