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Goodwill and Intangible Assets | 6 Months Ended
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Jul. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill activity for each of the Company’s reportable segments that carry goodwill, Specialty Chemicals and Engineered Materials (“SCEM”), Advanced Planarization Solutions (“APS”), Microcontamination Control (“MC”), and Advanced Materials Handling (“AMH”), and was as follows at December 31, 2022 and July 1 2023:
(In thousands) | SCEM |  | APS | MC |  | AMH |  |  | Total |  |
December 31, 2022 | $ | 561,328 |  |  | $ | 3,530,813 |  | $ | 242,088 |  |  | $ | 74,102 |  |  |  | $ | 4,408,331 |  |  |
Goodwill impairment | — |  |  | (88,872) |  | — |  |  | — |  |  |  | (88,872) |  |  |
Disposition of business | (90,005) |  |  | — |  | — |  |  | — |  |  |  | (90,005) |  |  |
Purchase accounting adjustments | 3,409 |  |  | (4,430) |  | — |  |  | — |  |  |  | (1,021) |  |  |
Assets held-for-sale | (3,885) |  |  | (250,775) |  | — |  |  | — |  |  |  | (254,660) |  |  |
Foreign currency translation | (33) |  |  | — |  | (3,493) |  |  | — |  |  |  | (3,526) |  |  |
July 1, 2023 | $ | 470,814 |  |  | $ | 3,186,736 |  | $ | 238,595 |  |  | $ | 74,102 |  |  |  | $ | 3,970,247 |  |  |
The changes in our goodwill balance of $438.1 million reflect (1) the goodwill impairment of our EC reporting unit of $88.9 million, as described in Note 3, (2) the sale of the QED business and related goodwill of that business of $90.0 million, see Note 5, (3) purchase accounting adjustments of $1.0 million, (4) goodwill reclassified to asset held-for-sale of $254.7 million as described in Note 5 and (5) foreign currency translation of $3.5 million. Identifiable intangible assets at July 1, 2023 and December 31, 2022 consist of the following:
July 1, 2023
(In thousands) | Gross carrying amount |  | Accumulated amortization |  | Net carrying value
Developed technology | $ | 1,262,685 |  |  | $ | 384,845 |  |  | $ | 877,840 |
Trademarks and trade names | 172,272 |  |  | 32,610 |  |  | 139,662 |
Customer relationships | 673,765 |  |  | 282,644 |  |  | 391,121 |
In-process research and development (1) | 9,400 |  |  | — |  |  | 9,400 |
Other | 23,924 |  |  | 20,237 |  |  | 3,687 |
| $ | 2,142,046 |  |  | $ | 720,336 |  |  | $ | 1,421,710 |
December 31, 2022
(In thousands) | Gross carrying amount |  | Accumulated amortization |  | Net carrying value
Developed technology | $ | 1,302,101 |  |  | $ | 313,876 |  |  | $ | 988,225 |
Trademarks and trade names | 250,473 |  |  | 29,565 |  |  | 220,908 |
Customer relationships | 863,947 |  |  | 273,039 |  |  | 590,908 |
In-process research and development (1) | 31,100 |  |  | — |  |  | 31,100 |
Other | 31,206 |  |  | 20,392 |  |  | 10,814 |
| $ | 2,478,827 |  |  | $ | 636,872 |  |  | $ | 1,841,955 |
(1) Intangible assets acquired in a business combination that are in-process and used in research and development activities are considered indefinite-lived until the completion or abandonment of the research and development efforts. Once the research and development efforts are completed, we determine the useful life and begin amortizing the assets. Future amortization expense relating to intangible assets currently recorded in the Company’s condensed consolidated balance sheets is estimated to be the following at July 1, 2023:
(In thousands) | Remaining 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter |  | Total
Future amortization expense | $ | 102,710 |  |  | 194,774 |  |  | 188,318 |  |  | 185,381 |  |  | 181,694 |  |  | 568,833 |  |  | $ | 1,421,710 |

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