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Intangible Assets (Tables) | 9 Months Ended
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Sep. 25, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Other Intangible Assets | Components of other intangible assets were (dollars in thousands):
| Finite Life |  |  |  |  |  | Indefinite Life |  |
| Customer Relationships |  | Patents and Proprietary Technology |  | Trademarks, Trade Names and Other |  | Trade Names |  | Total
As of September 25, 2020 |  |  |  |  |  |  |  |  |
Cost | $ | 186,073 |  |  | $ | 25,313 |  |  | $ | 1,000 |  |  | $ | 61,920 |  |  | $ | 274,306 |
Accumulated amortization | (90,280) |  |  | (12,380) |  |  | (358) |  |  | — |  |  | (103,018) |
Foreign currency translation | (8,349) |  |  | (707) |  |  | — |  |  | (1,572) |  |  | (10,628) |
Book value | $ | 87,444 |  |  | $ | 12,226 |  |  | $ | 642 |  |  | $ | 60,348 |  |  | $ | 160,660 |
Weighted average life in years | 13 |  | 10 |  | 4 |  | N/A |  |
As of December 27, 2019 |  |  |  |  |  |  |  |  |
Cost | $ | 186,310 |  |  | $ | 20,413 |  |  | $ | 1,020 |  |  | $ | 61,920 |  |  | $ | 269,663 |
Accumulated amortization | (80,764) |  |  | (10,526) |  |  | (650) |  |  | — |  |  | (91,940) |
Foreign currency translation | (10,412) |  |  | (885) |  |  | (73) |  |  | (3,730) |  |  | (15,100) |
Book value | $ | 95,134 |  |  | $ | 9,002 |  |  | $ | 297 |  |  | $ | 58,190 |  |  | $ | 162,623 |
Weighted average life in years | 13 |  | 10 |  | 4 |  | N/A |  |
Future Amortization Expense | Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | Thereafter
Estimated Amortization Expense | $ | 16,868 |  |  | $ | 16,854 |  |  | $ | 16,765 |  |  | $ | 15,809 |  |  | $ | 14,267 |  |  | $ | 32,211 |
Goodwill Rollforward | Changes in the carrying amount of goodwill for each reportable segment were (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 27, 2019 | $ | 177,112 |  |  | $ | 110,997 |  |  | $ | 19,554 |  |  | $ | 307,663 |
Additions, adjustments from business acquisitions | — |  |  | 29,657 |  |  | — |  |  | 29,657 |
Foreign currency translation | 5,253 |  |  | (233) |  |  | — |  |  | 5,020 |
Balance, September 25, 2020 | $ | 182,365 |  |  | $ | 140,421 |  |  | $ | 19,554 |  |  | $ | 342,340 |

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- Definition Disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived and indefinite lived intangible assets by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References No definition available. + Details
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13816-109267 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=108376223&loc=d3e13854-109267 + Details
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 + Details
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