XML 62 R42.htm IDEA: XBRL DOCUMENT v3.24.0.1
Goodwill and Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
Goodwill activity for each of the Company’s reportable segments, Materials Solutions (“MS”), Microcontamination Control (“MC”), and Advanced Materials Handling (“AMH”), for the years ended December 31, 2023 and 2022 is shown below:
(In thousands)MSMCAMHTotal
December 31, 2021$470,875 $248,725 $74,102 $793,702 
Addition due to acquisitions3,628,457 — — 3,628,457 
Purchase accounting adjustments— — 
Goodwill included in assets held-for-sale(8,822)— — (8,822)
Foreign currency translation1,626 (6,637)— (5,011)
December 31, 20224,092,141 242,088 74,102 4,408,331 
Goodwill impairment(115,217)— — (115,217)
Disposition of businesses(340,643)— — (340,643)
Purchase accounting adjustments(1,021)— — (1,021)
Goodwill included in assets held-for-sale (3,885)— — (3,885)
Foreign currency translation(25)(1,680)— (1,705)
December 31, 2023$3,631,350 $240,408 $74,102 $3,945,860 
Schedule of Acquired Finite-Lived Intangible Assets by Major Class
Identifiable intangible assets at December 31, 2023 and 2022 consist of the following:
2023
(In thousands)Gross carrying
amount
Accumulated
amortization
Net carrying
value
Weighted
average life in
years
Developed technology$1,256,469 $455,720 $800,749 7.2
Trademarks and trade names172,031 37,877 134,154 14.0
Customer relationships630,743 293,782 336,961 14.0
In-process research and development (1)
7,100 — 7,100 
Other23,924 20,919 3,005 5.6
$2,090,267 $808,298 $1,281,969 9.7
2022
(In thousands)Gross carrying
amount
Accumulated
amortization
Net carrying
value
Weighted
average life in
years
Developed technology$1,302,101 $313,876 $988,225 7.3
Trademarks and trade names250,473 29,565 220,908 14.3
Customer relationships863,947 273,039 590,908 15.4
In-process research and development (1)
31,100 — 31,100 
Other31,206 20,392 10,814 4.3
$2,478,827 $636,872 $1,841,955 10.8
(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.
Amortization of Intangibles
The table below sets forth the amortization expense for finite-lived intangible assets for the years ended December 31, 2023, 2022, and 2021:
(In thousands)202320222021
Amortization expense$214,477 $143,953 $47,856 
Estimated Future Amortization Expense
(In thousands)20242025202620272028ThereafterTotal
Future amortization expense$191,213 185,102 182,265 178,479 175,983 368,927 $1,281,969