Goodwill and Other Intangibles

6 Months Ended

Jun. 29, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $1.3 billion at both June 29, 2024 and December 31, 2023.

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


	June 29, 2024						December 31, 2023
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	657,175	$	499,290		5 years	$	660,273	$	495,317		5 years
Purchased intangibles		611,721		218,781		10 years		614,357		197,154		10 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		14,665		9,029		7 years		14,798		8,429		7 years
Patents and other intangibles		114,537		84,280		8 years		111,962		80,983		8 years

Total	$	1,407,778	$	811,380		7 years	$	1,411,070	$	781,883		7 years

The Company capitalized intangible assets in the amounts of $10 million and $431 million in the three months ended June 29, 2024 and July 1, 2023, respectively, and $20 million and $445

million in the six months ended June 29, 2024 and July 1, 2023, respectively. The increases in intangible assets in the three and six months ended July 1, 2023 were a result of the Wyatt acquisition.

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

million and $

million, respectively, in the six months ended June 29, 2024 due to the effects of foreign currency translation.

Amortization expense for intangible assets was $

million and $

million for the three months ended June 29, 2024 and July 1, 2023. Amortization expense for intangible assets was $

million and $

million for the six months ended June 29, 2024 and July 1, 2023, respectively. Amortization expense for intangible assets is estimated to be $

105

million per year for each of the next five years.