Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

hanges in the carrying value of goodwill by segment for the three months ended March 29, 2025 were as follows:

(in thousands)	Electronics		Transportation		Industrial		Total
Net goodwill as of December 28, 2024
Gross goodwill as of December 28, 2024	$	906,871	$	233,286	$	173,882	$	1,314,039
Accumulated impairment losses as of December 28, 2024	—		(41,645)		(43,892)		(85,537)
Total	906,871		191,641		129,990		1,228,502
Changes during 2025:
Additions (a)	57,439		—		—		57,439
Foreign currency translation adjustments	18,252		1,740		2,008		22,000
Net goodwill as of March 29, 2025
Gross goodwill as of March 29, 2025	982,562		235,960		177,263		1,395,785
Accumulated impairment losses as of March 29, 2025	—		(42,579)		(45,265)		(87,844)
Total	$	982,562	$	193,381	$	131,998	$	1,307,941

(a) The additions resulted from the acquisition of Dortmund Fab.

Schedule of Finite-Lived Intangible Assets

The components of intangible assets as of March 29, 2025 and December 28, 2024 were as follows:

	As of March 29, 2025
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	16,164	$	3,132	$	13,032
Patents, licenses, and software	264,596		188,579		76,017
Distribution network	41,857		41,857		—
Customer relationships, trademarks, and tradenames	641,597		255,001		386,596
Total	$	964,214	$	488,569	$	475,645

	As of December 28, 2024
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	16,079	$	2,994	$	13,085
Patents, licenses, and software	260,096		180,674		79,422
Distribution network	41,667		41,667		—
Customer relationships, trademarks, and tradenames	632,572		242,961		389,611
Total	$	950,414	$	468,296	$	482,118

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination

During the three months ended March 29, 2025, the Company recorded additions to intangible assets of $1.8 million related to the Dortmund Fab acquisition, the components of which were as follows:

(in thousands)	Weighted Average Useful Life	Amount
Customer relationships, trademarks, and tradenames	5	$	1,800
Total		$	1,800

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated annual amortization expense related to intangible assets with definite lives as of March 29, 2025 was as follows:

(in thousands)	Amount
Remainder of 2025	$	43,680
2026	47,456
2027	45,389
2028	44,991
2029	44,580
2030 and thereafter	249,549
Total	$	475,645