Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The changes in the carrying value by reportable segment for the fiscal years 2022 and 2021 were as follows:

	Fiscal Year 2022
	January 1, 2022		Acquisitions		Adjustments		December 31, 2022
INF	$	90,725	$	120	$	87	$	90,932
BTS	111,005		1,152		(319)		111,838
GEO	188,186		10,001		—		198,187
Total	$	389,916	$	11,273	$	(232)	$	400,957

	Fiscal Year 2021
	January 2, 2021		Acquisitions		Adjustments		January 1, 2022
INF	$	87,333	$	3,392	$	—	$	90,725
BTS	78,848		32,071		86		111,005
GEO	177,615		10,571		—		188,186
Total	$	343,796	$	46,034	$	86	$	389,916

Goodwill of $2,891 and $24,775 from acquisitions in 2022 and 2021 is expected to be deductible for income tax purposes. During 2022, the Company recorded goodwill related to acquisitions of $11,273 and purchase price allocation adjustments of $232 that decreased goodwill for 2021 acquisitions. During 2021, the Company recorded goodwill related to acquisitions of $46,034 and a purchase price adjustments of $86 that increased goodwill for the 2020 acquisition.

Intangible assets

Intangible assets, net, at December 31, 2022 and January 1, 2022 consists of the following:

	December 31, 2022						January 1, 2022
	Gross Carrying Amount		Accumulated Amortization		Net Amount		Gross Carrying Amount		Accumulated Amortization		Net Amount
Finite-lived intangible assets:
Customer relationships(1)	$	222,998	$	(87,054)	$	135,944	$	219,455	$	(65,017)	$	154,438
Trade name(2)	16,883		(15,933)		950		16,615		(14,815)		1,800
Customer backlog(3)	29,419		(27,333)		2,086		28,971		(25,162)		3,809
Non-compete(4)	14,110		(11,298)		2,812		13,829		(9,024)		4,805
Developed technology(5)	32,944		(14,305)		18,639		32,944		(9,572)		23,372
Total finite-lived intangible assets	$	316,354	$	(155,923)	$	160,431	$	311,814	$	(123,590)	$	188,224

(1) Amortized on a straight-line basis over estimated lives (1 to 12 years)

(2) Amortized on a straight-line basis over their estimated lives (1 to 2 years)

(3) Amortized on a straight-line basis over their estimated lives (1 to 10 years)

(4) Amortized on a straight-line basis over their contractual lives (1 to 5 years)

(5) Amortized on a straight-line basis over their estimated lives (5 to 7 years)

The following table summarizes the weighted average useful lives of definite-lived intangible assets acquired during 2022, 2021, and 2020:

	2022	2021	2020
Customer relationships	7.5	8.2	10.0
Trade name	1.8	2.0	1.5
Customer backlog	1.4	1.6	1.5
Non-compete	3.6	3.8	2.0

Amortization expense for fiscal years 2022, 2021 and 2020 was $32,341, $33,498 and $34,596 respectively.

As of December 31, 2022, the future estimated aggregate amortization related to finite-lived intangible assets for the next five fiscal years and thereafter is as follows:

Fiscal Year	Amount
2023	$	30,630
2024	27,793
2025	26,721
2026	25,545
2027	17,562
Thereafter	32,180
Total	$	160,431