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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill and Intangible Assets Net

Goodwill and intangible assets are as follows:

 

 

 

 

 

 

 

 

Initial

 

 

April 1,

 

 

December 31,

 

 

Useful Life

 

 

2023

 

 

2022

 

 

(in years)

 

 

(in thousands)

 

 

 

Goodwill

 

$

461,381

 

 

$

460,415

 

 

indefinite

 

 

 

 

 

 

 

 

 

Other intangible assets:

 

 

 

 

 

 

 

 

Trade names (indefinite-lived)

 

$

225,018

 

 

$

225,018

 

 

indefinite

 

 

 

 

 

 

 

 

 

Customer relationships and customer-related assets

 

 

340,047

 

 

 

340,047

 

 

<1-15

Trade name (amortizable)

 

 

22,200

 

 

 

22,200

 

 

15

Developed technology

 

 

20,500

 

 

 

20,500

 

 

3-14

Non-compete agreement

 

 

3,538

 

 

 

3,538

 

 

2-5

Software license

 

 

590

 

 

 

590

 

 

2

Less: Accumulated amortization

 

 

(171,634

)

 

 

(164,841

)

 

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

215,241

 

 

 

222,034

 

 

 

 

 

 

 

 

 

 

 

 

Other intangible assets, net

 

$

440,259

 

 

$

447,052

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill at December 31, 2022

 

$

460,415

 

 

 

 

 

 

Increase relating to Martin Acquisition net working capital payment

 

 

744

 

 

 

 

 

 

Net other measurement period changes in Martin Acquisition

 

 

222

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill at April 1, 2023

 

$

461,381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Estimated Amortization for Future Fiscal Year

Estimated amortization of our amortizable intangible assets for future years is as follows:

 

(in thousands)

 

Total

 

Remainder of 2023

 

$

19,514

 

2024

 

 

25,971

 

2025

 

 

25,640

 

2026

 

 

21,241

 

2027

 

 

20,987

 

Thereafter

 

 

101,888

 

 

 

 

 

Total

 

$

215,241