Goodwill and Other Intangibles

6 Months Ended

Jul. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $428 million and $438 million at July 2, 2022 and December 31, 2021, respectively. The effect of foreign currency translation decreased goodwill by $10 million.

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


	July 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	$	555,602	$	411,492		5 years	$	575,658	$	420,862		5 years
Purchased intangibles		196,887		162,839		11 years		201,302		163,752		11 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		11,484		6,091		7 years		12,635		6,199		7 years
Patents and other intangibles		101,679		69,809		8 years		102,353		68,414		8 years

Total	$	875,332	$	650,231		7 years	$	901,628	$	659,227		7 years

The Company capitalized intangible assets in the amounts of $12 million and $19 mill

on in the three months ended July 2, 2022 and July 3, 2021, respectively, and $24 million and $27 million in the six months ended July 2, 2022 and July 3, 2021, respectively. The gross carrying value of intangible assets and accumulated amortization for intangible assets decreased by $50 million and $38 million, respectively, in the six months ended July 2, 2022 due to the effects of foreign currency translation. Amortization expense for intangible assets was $15 million for both the three months ended July 2, 2022 and July 3, 2021. Amortization expense for intangible assets was $30 million for both the six months ended July 2, 2022 and July 3, 2021. Amortization expense for intangible assets is estimated to be $62 million per year for each of the next five years.