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Note 2 - Goodwill and Purchased Intangible Assets

12 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Text Block]

2.	Goodwill and Purchased Intangible Assets Changes in the carrying value of our goodwill during the years ended December 28, 2024, and December 30, 2023, were as follows (in thousands):

	Total Goodwill
Balance December 31, 2022	$	213,539
Additions		24,132
Impact of currency exchange		3,987
Balance December 30, 2023		241,658
Impact of currency exchange		(7,019	)
Balance December 28, 2024	$	234,639

Purchased intangible assets, subject to amortization, are as follows (in thousands):

	December 28, 2024						December 30, 2023
					Remaining
	Gross Carrying		Accumulated		Useful Life		Gross Carrying		Accumulated
	Amount		Amortization		(years)		Amount		Amortization
Developed technology	$	228,789	$	163,453		3.7	$	233,623	$	137,168
Customer relationships		72,570		35,229		6.2		73,759		28,932
Trade names		20,926		12,930		4.6		21,569		11,231
Backlog		100		100		-		100		25
Covenant not-to-compete		223		179		2.0		250		175
	$	322,608	$	211,891			$	329,301	$	177,531

Changes in the carrying values of purchased intangible assets presented above are a result of the impact of fluctuations in currency exchange rates.

We evaluate goodwill for impairment annually and when an event occurs or circumstances change that indicate that the carrying value may not be recoverable. We completed our required annual goodwill impairment testing as of October 1, 2024 and concluded there were no impairments of goodwill within our reporting units at that time. Other events and changes in circumstances may also require goodwill to be tested for impairment between annual measurement dates.

Amortization expense related to purchased intangible assets was approximately $39.1 million in fiscal 2024, $36.4 million in fiscal 2023 and $33.2 million in fiscal 2022. As of December 28, 2024, we expect amortization expense in future periods to be as follows: fiscal 2025 - $35.5 million; fiscal 2026 - $24.9 million; fiscal 2027 - $16.9 million; fiscal 2028 - $11.6 million fiscal 2029 - $7.7 million; and thereafter $14.1 million.