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Goodwill and Intangible Assets
 9 Months Ended
Sep. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Goodwill and Intangible Assets
The following table sets forth the changes in the carrying amount of goodwill by reportable segment and the accumulated impact of impairment loss:
($ Amounts in thousands)
Windows & DoorsSiding & AccessoriesMetal SolutionsTotal
Balance, as of December 31, 2024 $452,726 $335,544 $317,462 $1,105,732 
Impact of acquisitions and related measurement period adjustments (1)
1,340 — 663 2,003 
Impairment (372,323)— — (372,323)
Currency translation526 1,998 — 2,524 
Balance, September 27, 2025$82,269 $337,542 $318,125 $737,936 
Goodwill
$950,741 $707,445 $318,125 $1,976,311 
Accumulated impairment loss
(868,472)(369,903)— (1,238,375)
Balance, September 27, 2025$82,269 $337,542 $318,125 $737,936 
(1) Measurement period adjustments have been recorded in conjunction with the Harvey and Mueller acquisitions during the period. See Note 3 for additional information.
Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations. The Company evaluates goodwill for impairment at least annually as of November 1, or whenever events occur or circumstances indicate that it is more likely than not that the fair value of a reporting unit or a long-lived asset is below its carrying value. The process for evaluating potential impairment of goodwill is subjective and requires significant judgment. In estimating the fair value of our reporting units for the purposes of our annual or periodic impairment analyses, we make estimates or significant judgments about the future cash flows of each reporting unit. Our cash flow forecasts are based on assumptions that represent what we believe to be the highest and best use for our reporting units. Changes in judgment on these assumptions and estimates could result in goodwill impairment charges. We believe that the assumptions and estimates utilized are appropriate based upon the information available to management.
The Company has six reporting units. One of our reporting units, Windows & Doors–U.S., which is part of the Windows & Doors reportable segment has experienced adverse impacts as a result of changes in market conditions and continued high-interest rates relative to recent historical values, which has contributed to reduced forecasted revenues and reduced projected future cash flows. These events indicated to the Company that the carrying amounts of goodwill within the Windows & Doors reportable segment was in excess of its estimated fair value. As a result, during September 2025, the Company evaluated goodwill and other long-lived assets for impairment at the reporting unit level.
The Company performed a quantitative assessment of goodwill impairment by comparing the fair value of its reporting units to their respective carrying amounts. When performing the assessment, the Company determined the fair value of its reporting units and determined that the carrying amount of goodwill for its Windows & Doors–U.S. reporting unit was impaired during the three months ended September 27, 2025. As a result, the Company recorded a $372.3 million impairment charge related to Windows & Doors–U.S. Additional impairment charges, including related to goodwill, may be required in future periods if Windows & Doors–U.S. or other reporting units do not meet their current financial forecasts.
The Company uses a quantitative approach to measure the fair value of its reporting units by equally weighting the discounted cash flow approach, which is a Level 3 measurement, and the market approach, which is a Level 2 measurement. The market approach estimates fair value through recent sales of comparable assets or business entities. The discounted cash flow analysis requires significant judgments, including estimates of future cash flows, which are dependent on internal forecasts and determination of the Company’s weighted average cost of capital. The weighted average cost of capital used for all reporting units in the Company’s analysis ranged from 12.0% to 13.5%.
These and our other reporting units have a heightened risk of future impairments if any assumptions, estimates, or market factors change in the future. See Risk Factor, “Any impairment of our goodwill, intangible or other long-lived assets could negatively impact our results of operations and financial condition,” in Part I, Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 (the “2024 Form 10-K”).
Intangible Assets, Net
The following table sets forth the major components of intangible assets:
($ Amounts in thousands)
Range of Life
in Years		Weighted Average Amortization Remaining YearsCarrying ValueAccumulated AmortizationNet Carrying Value
As of September 27, 2025 (1)
Customer lists and relationships3–1915$2,112,489 $(466,397)$1,646,092 
Trademarks, trade names and other5–1512744,974 (140,500)604,474 
Total intangible assets$2,857,463 $(606,897)$2,250,566 
($ Amounts in thousands)
Range of Life
in Years		Weighted Average Amortization Remaining YearsCarrying ValueAccumulated AmortizationNet Carrying Value
As of December 31, 2024 (1)
Customer lists and relationships3–1915$2,100,469 $(351,129)$1,749,340 
Trademarks, trade names and other12–1512740,113 (101,548)638,565 
Total intangible assets$2,840,582 $(452,677)$2,387,905 

(1) Net of accumulated impairment loss of $32.7 million as of September 27, 2025 and December 31, 2024.
Intangible assets are amortized on a straight-line basis. The following table sets forth the amortization expense related to intangible assets:
Three Months EndedNine Months Ended
September 27, 2025September 28, 2024September 27, 2025September 28, 2024
Amortization expense$46,232 $55,185 $152,929 $151,384