Goodwill and Definite-lived Intangibles

9 Months Ended

Sep. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

(6) Goodwill and Definite-lived Intangibles

Goodwill

In connection with the Company’s assessment of its operating segments, effective during the quarter ended June 30, 2025, the Company determined that its operating segments were also its reporting units and reallocated its PCB goodwill between A&D and Commercial based on the estimated relative fair values of the reporting units. In connection with the reallocation of goodwill, management performed a goodwill impairment assessment for each segment and concluded no impairment indicators as of June 30, 2025.

Goodwill by reportable segment was as follows:


	A&D		Commercial		RF&S Components			Total
	(In thousands)
As of September 29, 2025 and December 30, 2024
Goodwill	$	256,199	$	382,636	$	177,200		$	816,035
Accumulated impairment losses		—		—		(145,900	)		(145,900	)
Carrying amount	$	256,199	$	382,636	$	31,300		$	670,135

Definite-lived Intangibles

The components of definite-lived intangibles were as follows:


	Gross Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Amortization Period
	(In thousands)							(In years)
As of September 29, 2025
Customer relationships	$	323,500	$	(182,376	)	$	141,124		11.8
Technology		66,650		(43,628	)		23,022		8.2
Total	$	390,150	$	(226,004	)	$	164,146

As of December 30, 2024
Customer relationships	$	323,500	$	(161,710	)	$	161,790		11.8
Technology		66,650		(36,621	)		30,029		8.2
Total	$	390,150	$	(198,331	)	$	191,819

Definite-lived intangibles are amortized using the straight-line method of amortization over the useful life. Amortization expense was $9,225 and $27,673 for the quarter and three quarters ended September 29, 2025, respectively, and $9,286 and $35,642 for the quarter and three quarters ended September 30, 2024, respectively. For the quarter and three quarters ended September 29, 2025, $2,336 and $7,007, respectively, of amortization expense was included in cost of goods sold. For the quarter and three quarters ended September 30, 2024, $2,335 and $7,006, respectively, of amortization expense was included in cost of goods sold.

Estimated aggregate amortization for definite-lived intangible assets for the next five years and thereafter is as follows:


	(In thousands)
Remaining 2025	$	9,224
2026		36,897
2027		34,543
2028		30,997
2029		22,355
Thereafter		30,130
Total	$	164,146