Goodwill and Other Intangibles

6 Months Ended

Jun. 28, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $1.3 billion at both June 28, 2025 and December 31, 2024.

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


	June 28, 2025						December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	760,391	$	590,629		5 years	$	662,085	$	508,339		5 years
Purchased intangibles		631,009		270,603		10 years		610,351		241,093		10 years
Trademarks		9,680		—		—		9,680		—		—
Licenses		15,744		11,118		7 years		14,549		9,628		7 years
Patents and other intangibles		128,180		93,527		8 years		117,781		87,480		8 years

Total	$	1,545,004	$	965,877		7 years	$	1,414,446	$	846,540		7 years

The Company capitalized intangible assets in the amounts of $32 million and $10 million in the three months ended June 28, 2025 and June 29, 2024, respectively, and $52 million and $20 million in the six months ended June 28, 2025 and June 29, 2024, respectively.

The gross carrying value of intangible assets and accumulated amortization for intangible assets increased by $79 million and $62 million, respectively, in the six months ended June 28, 2025 due to the effects of foreign currency translation.

Amortization expense for intangible assets was $29 million and $25 million for the three months ended June 28, 2025 and June 29, 2024, respectively. Amortization expense for intangible assets was $57 million and $51 million for the six months ended June 28, 2025 and June 29, 2024, respectively. Amortization expense for intangible assets is estimated to be $117 million per year for each of the next five years.