Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 28, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in the Carrying Amount of Goodwill

The changes in the carrying amount of goodwill by segment were as follows:

(In thousands)	Piping Systems		Industrial Metals		Climate		Total
Goodwill	$	178,574	$	8,854	$	21,652	$	209,080
Accumulated impairment charges	(40,552)		(8,853)		(2,087)		(51,492)
Balance at December 31, 2022:	138,022		1		19,565		157,588
Reductions (1)	(7,007)		—		—		(7,007)
Currency translation	1,239		—		—		1,239
Balance at December 30, 2023:	132,254		1		19,565		151,820
Additions (2)	15,107		146,137		—		161,244
Currency translation	(1,899)		—		—		(1,899)
Balance at December 28, 2024:
Goodwill	186,014		154,991		21,652		362,657
Accumulated impairment charges	(40,552)		(8,853)		(2,087)		(51,492)
Goodwill, net	$	145,462	$	146,138	$	19,565	$	311,165
(1) Includes disposal of Heatlink Group business.
(2) Includes acquisitions of Nehring and Elkhart businesses.

Schedule of Carrying Amount of Intangible Assets

The carrying amount of intangible assets at December 28, 2024 was as follows:

(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	259,831	$	(25,403)	$	234,428
Non-compete agreements	2,847		(2,229)		618
Patents and technology	16,385		(8,915)		7,470
Trade names and licenses	74,816		(10,975)		63,841
Other	1,715		(1,715)		—
Other intangible assets	$	355,594	$	(49,237)	$	306,357

The carrying amount of intangible assets at December 30, 2023 was as follows:

(In thousands)	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer relationships	$	50,009	$	(17,535)	$	32,474
Non-compete agreements	2,325		(2,325)		—
Patents and technology	16,681		(8,119)		8,562
Trade names and licenses	12,092		(6,920)		5,172
Other	1,715		(1,715)		—
Other intangible assets	$	82,822	$	(36,614)	$	46,208

Schedule of Amortization Expense for Intangible Assets

Future amortization expense is estimated as follows:

(In thousands)	Amount
2025	$	20,419
2026	20,281
2027	20,280
2028	20,042
2029	18,743
Thereafter	206,592
Expected amortization expense	$	306,357