Intangible Assets

9 Months Ended

Sep. 24, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

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