Intangible Assets (Tables)

6 Months Ended

Jun. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Other Intangible Assets

Components of other intangible assets were as follows (dollars in thousands):

	Finite Life						Indefinite Life
	Customer Relationships		Patents and Proprietary Technology		Trademarks, Trade Names and Other		Trade Names		Total
As of June 28, 2024
Cost	$	191,417	$	14,174	$	1,300	$	62,633	$	269,524
Accumulated amortization	(135,516)		(9,423)		(677)		—		(145,616)
Foreign currency translation	(8,865)		(375)		—		(689)		(9,929)
Book value	$	47,036	$	4,376	$	623	$	61,944	$	113,979
Weighted average life in years	13		9		6		N/A

As of December 29, 2023
Cost	$	191,417	$	14,174	$	1,300	$	62,633	$	269,524
Accumulated amortization	(128,248)		(8,547)		(561)		—		(137,356)
Foreign currency translation	(7,591)		(344)		—		2,025		(5,910)
Book value	$	55,578	$	5,283	$	739	$	64,658	$	126,258
Weighted average life in years	13		9		6		N/A

Future Amortization Expense

Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):

	2024 (Remainder)		2025		2026		2027		2028		Thereafter
Estimated Amortization Expense	$	8,105	$	15,964	$	9,092	$	6,372	$	4,222	$	8,280

Goodwill Rollforward

Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands): 

	Contractor		Industrial		Process		Total
Balance, December 29, 2023	$	77,542	$	143,132	$	149,554	$	370,228
Foreign currency translation	(447)		(6,063)		(181)		(6,691)
Balance, June 28, 2024	$	77,095	$	137,069	$	149,373	$	363,537