GOODWILL AND OTHER INTANGIBLE ASSETS

9 Months Ended

Sep. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

5. GOODWILL AND OTHER INTANGIBLE ASSETS

The following presents changes to goodwill for the period indicated:


	For the thirty-nine weeks ended September 26, 2021
Balance at December 31, 2020	$	359,099
Advance Engine Management acquisition		17,426
Classic Instruments acquisition		4,912
Measurement period adjustments*		423
Balance at September 26, 2021	$	381,860

* See Note 2, "Business Combination and Acquisitions - Simpson Performance Products, Inc. and

Advance Engine Management Inc."

Goodwill represents the premium paid over the fair value of the net tangible and identifiable intangible assets acquired in the Company's business combinations. The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, not to exceed 12 months. Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined.

Intangible assets consisted of the following:


	September 26, 2021
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	259,907	$	(29,878	)	$	230,029
Tradenames		13,775		(3,906	)		9,869
Technology		26,673		(8,469	)		18,204
Total finite-lived intangible assets	$	300,355	$	(42,253	)	$	258,102

Indefinite-lived intangible assets:
Tradenames	$	163,768		—		$	163,768


	December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Finite-lived intangible assets:
Customer relationships	$	245,274	$	(21,819	)	$	223,455
Tradenames		13,775		(3,369	)		10,406
Technology		24,595		(6,674	)		17,921
Total finite-lived intangible assets	$	283,644	$	(31,862	)	$	251,782

Indefinite-lived intangible assets:
Tradenames	$	152,740		—		$	152,740

The following outlines the estimated future amortization expense related to intangible assets held as of September 26, 2021:


2021 (excluding the thirty-nine weeks ended September 26, 2021)	$	3,573
2022		14,202
2023		14,039
2024		13,226
2025		13,189
Thereafter		199,873
Total	$	258,102