Goodwill and Intangible Assets

6 Months Ended

Jun. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

Goodwill included the following:

(in thousands)	Light Duty		Heavy Duty		Specialty Vehicle		Consolidated
Balance at December 31, 2024	$	313,704	$	55,706	$	73,476	$	442,886
Measurement period adjustment	—		—		154		154
Foreign currency translation	—		1,294		—		1,294
Balance at June 28, 2025	$	313,704	$	57,000	$	73,630	$	444,334

Intangible Assets

Intangible assets included the following:

	June 28, 2025						December 31, 2024
Intangible assets subject to amortization	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
(in thousands)
Customer relationships	$	173,984	$	46,570	$	127,414	$	173,430	$	41,358	$	132,072
Trade names	67,690		17,063		50,627		67,690		14,999		52,691
Product portfolio	107,800		19,876		87,924		107,800		16,522		91,278
Technology	2,167		1,442		725		2,167		1,318		849
Patents and other	2,350		1,210		1,140		2,350		1,027		1,323
Total	$	353,991	$	86,161	$	267,830	$	353,437	$	75,224	$	278,213

Amortization expense was $5.5 million and $5.5 million during the three months ended June 28, 2025, and June 29, 2024, and $11.0 million and $11.1 million during the six months ended June 28, 2025, and June 29, 2024, respectively.