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Intangible Assets | 3 Months Ended
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Mar. 31, 2023
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 March 31, 2023 |  |  |  |  |  |  |  |  |
Cost | $ | 197,417 |  |  | $ | 26,374 |  |  | $ | 1,300 |  |  | $ | 62,633 |  |  | $ | 287,724 |
Accumulated amortization | (122,816) |  |  | (18,738) |  |  | (388) |  |  | — |  |  | (141,942) |
Foreign currency translation | (9,301) |  |  | (863) |  |  | — |  |  | (1,487) |  |  | (11,651) |
Book value | $ | 65,300 |  |  | $ | 6,773 |  |  | $ | 912 |  |  | $ | 61,146 |  |  | $ | 134,131 |
Weighted average life in years | 13 |  | 10 |  | 6 |  | N/A |  |
As of December 30, 2022 |  |  |  |  |  |  |  |  |
Cost | $ | 202,103 |  |  | $ | 26,374 |  |  | $ | 1,300 |  |  | $ | 62,633 |  |  | $ | 292,410 |
Accumulated amortization | (123,603) |  |  | (18,027) |  |  | (330) |  |  | — |  |  | (141,960) |
Foreign currency translation | (10,060) |  |  | (894) |  |  | — |  |  | (1,989) |  |  | (12,943) |
Book value | $ | 68,440 |  |  | $ | 7,453 |  |  | $ | 970 |  |  | $ | 60,644 |  |  | $ | 137,507 |
Weighted average life in years | 13 |  | 10 |  | 6 |  | N/A |  |
Amortization of intangibles for the year to date was $4.5 million in 2023 and $4.6 million in 2022. Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2023 (Remainder) |  | 2024 |  | 2025 |  | 2026 |  | 2027 |  | Thereafter
Estimated Amortization Expense | $ | 12,786 |  |  | $ | 16,311 |  |  | $ | 15,849 |  |  | $ | 9,050 |  |  | $ | 6,406 |  |  | $ | 12,583 |
Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Contractor |  | Industrial |  | Process |  | Total
Balance, December 30, 2022 | $ | 77,034 |  |  | $ | 134,771 |  |  | $ | 156,366 |  |  | $ | 368,171 |
Additions, adjustments from business acquisitions | — |  |  | — |  |  | — |  |  | — |
Foreign currency translation | 259 |  |  | 1,257 |  |  | 416 |  |  | 1,932 |
Balance, March 31, 2023 | $ | 77,293 |  |  | $ | 136,028 |  |  | $ | 156,782 |  |  | $ | 370,103 |

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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 https://asc.fasb.org/topic&trid=2144416 + Details
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