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Intangible Assets | 3 Months Ended
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Mar. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 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 March 26, 2021 |  |  |  |  |  |  |  |  |
Cost | $ | 186,073 |  |  | $ | 25,364 |  |  | $ | 900 |  |  | $ | 61,920 |  |  | $ | 274,257 |
Accumulated amortization | (97,426) |  |  | (13,603) |  |  | (338) |  |  | — |  |  | (111,367) |
Foreign currency translation | (7,625) |  |  | (661) |  |  | — |  |  | (1,812) |  |  | (10,098) |
Book value | $ | 81,022 |  |  | $ | 11,100 |  |  | $ | 562 |  |  | $ | 60,108 |  |  | $ | 152,792 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
As of December 25, 2020 |  |  |  |  |  |  |  |  |
Cost | $ | 186,073 |  |  | $ | 25,187 |  |  | $ | 900 |  |  | $ | 61,920 |  |  | $ | 274,080 |
Accumulated amortization | (93,832) |  |  | (12,924) |  |  | (301) |  |  | — |  |  | (107,057) |
Foreign currency translation | (6,004) |  |  | (538) |  |  | — |  |  | 188 |  |  | (6,354) |
Book value | $ | 86,237 |  |  | $ | 11,725 |  |  | $ | 599 |  |  | $ | 62,108 |  |  | $ | 160,669 |
Weighted average life in years | 13 |  | 10 |  | 5 |  | N/A |  |
Amortization of intangibles for the quarter was $4.3 million in 2021 and $4.1 million in 2020. Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2021 (Remainder) |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | Thereafter
Estimated Amortization Expense | $ | 12,679 |  |  | $ | 16,796 |  |  | $ | 15,920 |  |  | $ | 14,245 |  |  | $ | 13,796 |  |  | $ | 19,248 |
Changes in the carrying amount of goodwill for each reportable segment were (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 25, 2020 | $ | 186,536 |  |  | $ | 141,513 |  |  | $ | 19,554 |  |  | $ | 347,603 |
Foreign currency translation | (4,727) |  |  | 134 |  |  | — |  |  | (4,593) |
Balance, March 26, 2021 | $ | 181,809 |  |  | $ | 141,647 |  |  | $ | 19,554 |  |  | $ | 343,010 |
Subsequent to the end of the first quarter, the Company completed the acquisition of a business that is not material to the consolidated financial statements.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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