Acquisitions, Goodwill And Other Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2022

The acquisition of this business was preliminarily recorded, as updated, 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	$	45,020
Other assets acquired and liabilities assumed, net	13,673
Total fair value of net assets acquired	$	58,693

Goodwill (tax deductible)	$	11,307

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	10,284		1,809		12,093
Measurement period adjustments	8,871		1,092		9,963
Foreign currency translation	(9,503)		(905)		(10,408)
Net balance – June 30, 2022	$	389,115	$	165,713	$	554,828

Other intangible assets consisted of the following at June 30, 2022:


(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	506,528	$	144,573	$	361,955	6	to	17
Patents	120,262		57,894		62,368		3	to	20
Trade names (finite life)	93,703		17,979		75,724		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	11,582		6,566		5,016		3	to	6
Other	309		220		89		2	to	12

Other intangible assets	$	739,984	$	227,232	$	512,752

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