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Intangible Assets

3 Months Ended

Mar. 31, 2023

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 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