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Acquisitions, Goodwill And Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2022
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$52,761 
Fixed deferred consideration2,000 
Total fair value of consideration given$54,761 
Identifiable intangible assets$13,000 
Other assets acquired and liabilities assumed, net36,783 
Total fair value of net assets acquired$49,783 
Goodwill (tax deductible)$4,978 
The acquisition of this business was recorded as of the acquisition date as follows (in thousands):
Cash consideration$50,664 
Fixed deferred consideration20,000 
Total fair value of consideration given$70,664 
Customer relationships$35,700 
Identifiable intangible assets7,820 
Other assets acquired and liabilities assumed, net14,442 
Total fair value of net assets acquired$57,962 
Goodwill (tax deductible)$12,702 
The acquisition of this business was preliminarily recorded as of the acquisition date, and subsequently adjusted and finalized, as follows (in thousands):
Preliminary at December 31, 2021Measurement Period Adjustments
As Adjusted at December 31, 2022
Cash consideration, net of cash acquired$50,534 $— $50,534 
Effective settlement of Receivable from Furrion34,956 — 34,956 
Discounted value of fixed deferred consideration61,191 — 61,191 
Total fair value of consideration given$146,681 $— $146,681 
Customer relationships$66,300 $(10,600)$55,700 
Other identifiable intangible assets43,900 (1,200)42,700 
Other assets acquired and liabilities assumed, net(9,518)(1,483)(11,001)
Total fair value of net assets acquired$100,682 $(13,283)$87,399 
Goodwill (tax deductible)$45,999 $13,283 $59,282 
Schedule of Goodwill
Changes in the carrying amount of goodwill by reportable segment were as follows:
(In thousands)OEM SegmentAftermarket SegmentTotal
Net balance – December 31, 2020$305,953 $148,775 $454,728 
Acquisitions – 202170,836 14,938 85,774 
Measurement period adjustments9,519 (23)9,496 
Foreign currency translation(6,845)27 (6,818)
Net balance – December 31, 2021379,463 163,717 543,180 
Acquisitions – 202216,302 2,202 18,504 
Measurement period adjustments10,917 2,370 13,287 
Foreign currency translation(6,946)(962)(7,908)
Net balance – December 31, 2022$399,736 $167,327 $567,063 
Schedule of Finite-Lived Intangible Assets
Other intangible assets, by segment, at December 31 were as follows:
(In thousands)20222021
OEM Segment$314,828 $330,930 
Aftermarket Segment188,492 189,027 
Other intangible assets$503,320 $519,957 
Other intangible assets consisted of the following at December 31, 2022:
(In thousands)Gross
Cost
Accumulated
Amortization
Net
Balance
Estimated Useful
Life in Years
Customer relationships$520,273 $163,562 $356,711 6to20
Patents121,167 62,841 58,326 3to20
Trade names (finite life)97,810 21,380 76,430 3to20
Trade names (indefinite life)7,600 — 7,600 Indefinite
Non-compete agreements11,584 7,698 3,886 3to6
Other609 242 367 2to12
Other intangible assets$759,043 $255,723 $503,320 
Schedule of Finite-Lived Intangible Assets
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 6to17
Patents116,725 53,479 63,246 3to20
Trade names (finite life)93,994 16,497 77,497 3to20
Trade names (indefinite life)7,600 — 7,600 Indefinite
Non-compete agreements11,464 5,439 6,025 3to6
Other309 212 97 2to12
Purchased research and development4,687 — 4,687 Indefinite
Other intangible assets$722,632 $202,675 $519,957 
Schedule of Indefinite-Lived Intangible Assets
Other intangible assets, by segment, at December 31 were as follows:
(In thousands)20222021
OEM Segment$314,828 $330,930 
Aftermarket Segment188,492 189,027 
Other intangible assets$503,320 $519,957 
Other intangible assets consisted of the following at December 31, 2022:
(In thousands)Gross
Cost
Accumulated
Amortization
Net
Balance
Estimated Useful
Life in Years
Customer relationships$520,273 $163,562 $356,711 6to20
Patents121,167 62,841 58,326 3to20
Trade names (finite life)97,810 21,380 76,430 3to20
Trade names (indefinite life)7,600 — 7,600 Indefinite
Non-compete agreements11,584 7,698 3,886 3to6
Other609 242 367 2to12
Other intangible assets$759,043 $255,723 $503,320 
Schedule of Indefinite-lived Intangible Assets
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 6to17
Patents116,725 53,479 63,246 3to20
Trade names (finite life)93,994 16,497 77,497 3to20
Trade names (indefinite life)7,600 — 7,600 Indefinite
Non-compete agreements11,464 5,439 6,025 3to6
Other309 212 97 2to12
Purchased research and development4,687 — 4,687 Indefinite
Other intangible assets$722,632 $202,675 $519,957 
Schedule of Estimated Amortization Expense
Amortization expense related to other intangible assets was as follows for the years ended December 31:
(In thousands)202220212020
Cost of sales$10,155 $5,783 $5,101 
Selling, general and administrative expense46,218 41,782 32,772 
Amortization expense$56,373 $47,565 $37,873 
Estimated amortization expense for other intangible assets for the next five years is as follows:
(In thousands)20232024202520262027
Cost of sales$9,834 $9,486 $8,507 $7,280 $6,137 
Selling, general and administrative expense46,383 44,867 41,536 39,682 38,726 
Amortization expense$56,217 $54,353 $50,043 $46,962 $44,863