Goodwill and Other Intangibles

3 Months Ended

Mar. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

4 Goodwill and Other Intangibles

The carrying amount of goodwill was $1.3 billion at both March 29, 2025 and December 31, 2024.

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


	March 29, 2025						December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	695,349	$	537,008		5 years	$	662,085	$	508,339		5 years
Purchased intangibles		612,312		254,401		10 years		610,351		241,093		10 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		14,944		10,224		7 years		14,549		9,628		7 years
Patents and other intangibles		120,099		89,997		8 years		117,781		87,480		8 years

Total	$	1,452,384	$	891,630		7 years	$	1,414,446	$	846,540		7 years

The Company capitalized $20 million and $10 million of intangible assets in the three months ended March 29, 2025 and March 30, 2024, respectively. The gross carrying value of both the intangible assets and accumulated amortization for intangible assets increased by $18 million in the three months ended March 29, 2025 due to the effects of foreign currency translation. Amortization expense for intangible assets was $28 million and $26 million for the three months ended March 29, 2025 and March 30, 2024, respectively. Amortization expense for intangible assets is estimated to be $113 million per year for

each

of the next five years.