Acquisitions, Goodwill And Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2022

Acquisitions, Goodwill And Other Intangible Assets [Abstract]

Schedule of Business Acquisitions, by Acquisition

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

Cash consideration	$	50,664
Fixed deferred consideration	20,000
Total fair value of consideration given	$	70,664
Identifiable intangible assets	$	43,520
Other assets acquired and liabilities assumed, net	14,442
Total fair value of net assets acquired	$	57,962
Goodwill (tax deductible)	$	12,702

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	11,460		2,032		13,492
Measurement period adjustments	11,830		1,457		13,287
Foreign currency translation	(16,218)		(2,126)		(18,344)
Net balance – September 30, 2022	$	386,535	$	165,080	$	551,615

Schedule of Other Intangible Assets

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

(In thousands)	Gross Cost		Accumulated Amortization		Net Balance		Estimated Useful Life in Years
Customer relationships	$	500,432	$	154,075	$	346,357	6	to	17
Patents	118,484		60,402		58,082		3	to	20
Trade names (finite life)	92,312		19,628		72,684		3	to	20
Trade names (indefinite life)	7,600		—		7,600		Indefinite
Non-compete agreements	11,584		7,131		4,453		3	to	6
Other	609		230		379		2	to	12
Other intangible assets	$	731,021	$	241,466	$	489,555

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