Acquisitions (Tables)

6 Months Ended

Jul. 02, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands):

Receivables	$	6,781
Inventory	13,061
Other current assets	1,840
Property, plant and equipment	7,057
Intangible assets	52,597
Goodwill	27,831
Other long-lived assets	1,303
Total assets acquired	$	110,470
Accounts payable	$	2,423
Accrued liabilities	1,884
Deferred income taxes	8,659
Total liabilities assumed	$	12,966
Net assets	$	97,504

Schedule of Acquired Intangible Assets

The intangible assets related to the acquisition consisted of the following:

	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Customer relationships	$	49,131	15.0
Trademarks	2,456		2.0
Sales backlog	1,010		0.2
Total intangible assets subject to amortization	$	52,597
Intangible assets not subject to amortization:
Goodwill	$	27,831	n/a
Total intangible assets not subject to amortization	$	27,831
Total intangible assets	$	80,428
Weighted average amortization period			14.1