Acquisitions, Goodwill And Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2022

Acquisitions, Goodwill And Other Intangible Assets [Abstract]

Schedule of Business Acquisitions, by Acquisition

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

Cash consideration	$	50,000
Fixed deferred consideration	20,000
Total fair value of consideration given	$	70,000
Identifiable intangible assets	$	35,000
Other assets acquired and liabilities assumed, net	14,802
Total fair value of net assets acquired	$	49,802
Goodwill (tax deductible)	$	20,198

Schedule of Goodwill

Changes in the carrying amount of goodwill by reportable segment were as follows:

(In thousands)	OEM Segment		Aftermarket Segment		Total
Net balance – December 31, 2021	$	379,463	$	163,717	$	543,180
Acquisitions – 2022	16,966		3,232		20,198
Measurement period adjustments	538		62		600
Foreign currency translation	(1,737)		(203)		(1,940)
Net balance – March 31, 2022	$	395,230	$	166,808	$	562,038

Schedule of Other Intangible Assets

Other intangible assets consisted of the following at March 31, 2022:

(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	501,482	$	136,343	$	365,139	6	to	17
Patents	131,232		55,461		75,771		3	to	20
Trade names (finite life)	96,980		16,732		80,248		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	11,464		5,997		5,467		3	to	6
Other	309		217		92		2	to	12
Purchased research and development	4,687		—		4,687		Indefinite
Other intangible assets	$	753,754	$	214,750	$	539,004

Other intangible assets consisted of the following at December 31, 2021:

(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	487,853	$	127,048	$	360,805	6	to	17
Patents	116,725		53,479		63,246		3	to	20
Trade names (finite life)	93,994		16,497		77,497		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	11,464		5,439		6,025		3	to	6
Other	309		212		97		2	to	12
Purchased research and development	4,687		—		4,687		Indefinite
Other intangible assets	$	722,632	$	202,675	$	519,957