Goodwill and Other Intangibles

3 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $436 million and $438 million at April 2, 2022 and December 31, 2021, respectively. The effect of foreign currency translation decreased goodwill by $2 million.

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


	April 2, 2022						December 31, 2021
					Weighted-						Weighted-
	Gross				Average		Gross				Average
	Carrying		Accumulated		Amortization		Carrying		Accumulated		Amortization
	Amount		Amortization		Period		Amount		Amortization		Period
Capitalized software	$	576,013	$	424,114		5 years	$	575,658	$	420,862		5 years
Purchased intangibles		200,284		164,372		11 years		201,302		163,752		11 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		12,339		6,285		7 years		12,635		6,199		7 years
Patents and other intangibles		102,493		69,630		8 years		102,353		68,414		8 years

Total	$	900,809	$	664,401		7 years	$	901,628	$	659,227		7 years

The Company capitalized $12 million and $8 million of intangible assets in the three months ended April 2, 2022 and April 3, 2021, respectively. The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $13 million and $10 million, respectively, in the three months ended April 2, 2022 due to the effects of foreign currency translation. Amortization expense for intangible assets was $15 million for both the three months ended April 2, 2022 and April 3, 2021. Amortization expense for intangible assets is estimated to be $64 million per year for each of the next five years.