Goodwill and Other Intangibles

3 Months Ended

Apr. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $432 million and $430 million at April 1, 2023 and December 31, 2022, respectively. The effect of foreign currency translation

increased

goodwill by $2 million.

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


	April 1, 2023						December 31, 2022
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	610,668	$	455,952		5years	$	589,604	$	441,414		5years
Purchased intangibles		198,395		168,787		11years		197,805		166,735		11years
Trademarks		9,680		—		—		9,680		—		—
Licenses		14,339		7,186		6years		14,070		6,729		6years
Patents and other intangibles		106,660		75,102		8years		104,139		73,021		8years

Total	$	939,742	$	707,027		7years	$	915,298	$	687,899		7years

The Company capitalized $14 million and $12

million of intangible assets in the three months ended April 1, 2023 and April 2, 2022, respectively. The gross carrying value of intangible assets and accumulated amortization for intangible assets increased by $

10 million and $8

million, respectively, in the three months ended April 1, 2023 due to the effects of foreign currency translation. Amortization expense for intangible assets was $

12 million and $15 million for the three months ended April 1, 2023 and April 2, 2022, respectively. Amortization expense for intangible assets is estimated to

$49 million per year for each of the next five years.