Goodwill and Other Intangibles

6 Months Ended

Jul. 03, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $440 million and $444 million at July 3, 2021 and December 31, 2020, respectively. The effect of foreign currency translation decreased goodwill by $4 million.

The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands):


	July 3, 2021							December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period			Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	578,641	$	418,409		5	years	$	584,452	$	409,847		5	years
Purchased intangibles		203,421		162,312		11	years		205,585		160,342		11	years
Trademarks		9,680		—		—			9,680		—		—
Licenses		12,882		5,803		7	years		5,923		5,697		6	years
Patents and other intangibles		94,043		65,307		8	years		90,699		61,808		8	years

Total	$	898,667	$	651,831		7	years	$	896,339	$	637,694		7	years

In June 2021, the Company paid $7 million in connection with an existing licensing arrangement. The payment was tied to the commercial launch of Waters

™

SELECT SERIES

™

MRT, a high-resolution mass spectrometer and was capitalized as an intangible asset on our consolidated balance sheet as of July 3, 2021.

The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $

million and $

million, respectively, in the

six

months ended July

2021

due to the effects of foreign currency translation. Amortization expense for intangible assets was $

million and $

million for the

three

months ended July

2021

and June

2020

, respectively. Amortization expense for intangible assets was $

million and $

million for the

six

months ended July

2021

and June

2020

, respectively. Amortization expense for intangible assets is estimated to be $

million per year for each of the next

five

years.