Acquisitions, Goodwill And Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2021

Acquisitions, Goodwill And Other Intangible Assets [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The acquisition of this business was preliminarily recorded as of the acquisition date as follows (in thousands):

Cash consideration, net of cash acquired	$	29,383
Customer relationships	$	10,000
Other identifiable intangible assets	2,500
Net tangible assets	564
Total fair value of net assets acquired	$	13,064
Goodwill (not tax deductible)	$	16,319

The acquisition of this business was preliminarily recorded on the acquisition date as follows (in thousands):

Cash consideration, net of cash acquired	$	56,709
Contingent consideration	3,000
Total fair value of consideration given	$	59,709
Customer relationships	$	24,200
Other identifiable intangible assets	9,100
Net tangible assets	16,872
Total fair value of net assets acquired	$	50,172
Goodwill (tax deductible)	$	9,537

Schedule of Goodwill

Goodwill by reportable segment was as follows:

(In thousands)	OEM Segment		Aftermarket Segment		Total
Net balance – December 31, 2020	$	305,953	$	148,775	$	454,728
Acquisitions – 2021	24,448		10,190		34,638
Measurement period adjustments	9,456		(23)		9,433
Foreign currency translation	(2,528)		151		(2,377)
Net balance – June 30, 2021	$	337,329	$	159,093	$	496,422

Schedule of Other Intangible Assets

Other intangible assets consisted of the following at June 30, 2021:

(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	424,433	$	110,076	$	314,357	6	to	17
Patents	96,920		49,698		47,222		3	to	20
Trade names (finite life)	74,889		14,240		60,649		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	7,479		4,702		2,777		3	to	6
Other	309		203		106		2	to	12
Purchased research and development	4,687		—		4,687		Indefinite
Other intangible assets	$	616,317	$	178,919	$	437,398

Other intangible assets consisted of the following at December 31, 2020:

(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	398,613	$	95,443	$	303,170	6	to	17
Patents	92,128		47,090		45,038		3	to	20
Trade names (finite life)	69,686		11,272		58,414		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	6,478		4,617		1,861		3	to	6
Other	309		194		115		2	to	12
Purchased research and development	4,687		—		4,687		Indefinite
Other intangible assets	$	579,501	$	158,616	$	420,885