XML 30 R17.htm IDEA: XBRL DOCUMENT
v3.21.2

Intangible Assets | 9 Months Ended
--- | ---
Sep. 24, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | Intangible Assets Components of other intangible assets were as follows (dollars in thousands):
| Finite Life |  | Indefinite Life |  |
| Customer Relationships |  | Patents and Proprietary Technology |  | Trademarks, Trade Names and Other |  | Trade Names |  | Total
As of September 24, 2021 |  |  |  |  |  |  |  |  |
Cost | $ | 194,505 |  |  | $ | 26,074 |  |  | $ | 900 |  |  | $ | 62,633 |  |  | $ | 284,112 |
Accumulated amortization | (104,892) |  |  | (15,023) |  |  | (414) |  |  | — |  |  | (120,329) |
Foreign currency translation | (7,414) |  |  | (655) |  |  | — |  |  | (1,350) |  |  | (9,419) |
Book value | $ | 82,199 |  |  | $ | 10,396 |  |  | $ | 486 |  |  | $ | 61,283 |  |  | $ | 154,364 |
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 $4.6 million in 2021 and $4.2 million in 2020 and for the year to date was $13.4 million in 2021 and $12.5 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 | $ | 4,646 |  |  | $ | 17,757 |  |  | $ | 16,980 |  |  | $ | 15,425 |  |  | $ | 14,853 |  |  | $ | 23,420 |
Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Industrial |  | Process |  | Contractor |  | Total
Balance, December 25, 2020 | $ | 186,536 |  |  | $ | 141,513 |  |  | $ | 19,554 |  |  | $ | 347,603 |
Additions, adjustments from business acquisitions | 13,321 |  |  | — |  |  | — |  |  | 13,321 |
Foreign currency translation | (4,003) |  |  | 93 |  |  | — |  |  | (3,910) |
Balance, September 24, 2021 | $ | 195,854 |  |  | $ | 141,606 |  |  | $ | 19,554 |  |  | $ | 357,014 |

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration