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Intangible Assets (Tables) | 3 Months Ended
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Mar. 29, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Other 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 29, 2024 |  |  |  |  |  |  |  |  |
Cost | $ | 191,417 |  |  | $ | 13,832 |  |  | $ | 1,300 |  |  | $ | 62,633 |  |  | $ | 269,182 |
Accumulated amortization | (131,933) |  |  | (8,640) |  |  | (619) |  |  | — |  |  | (141,192) |
Foreign currency translation | (8,839) |  |  | (368) |  |  | — |  |  | (933) |  |  | (10,140) |
Book value | $ | 50,645 |  |  | $ | 4,824 |  |  | $ | 681 |  |  | $ | 61,700 |  |  | $ | 117,850 |
Weighted average life in years | 13 |  | 9 |  | 6 |  | N/A |  |
As of December 29, 2023 |  |  |  |  |  |  |  |  |
Cost | $ | 191,417 |  |  | $ | 14,174 |  |  | $ | 1,300 |  |  | $ | 62,633 |  |  | $ | 269,524 |
Accumulated amortization | (128,248) |  |  | (8,547) |  |  | (561) |  |  | — |  |  | (137,356) |
Foreign currency translation | (7,591) |  |  | (344) |  |  | — |  |  | 2,025 |  |  | (5,910) |
Book value | $ | 55,578 |  |  | $ | 5,283 |  |  | $ | 739 |  |  | $ | 64,658 |  |  | $ | 126,258 |
Weighted average life in years | 13 |  | 9 |  | 6 |  | N/A |  |
Future Amortization Expense | Estimated annual amortization expense based on the current carrying amount of other intangible assets is as follows (in thousands):
| 2024 (Remainder) |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  | Thereafter
Estimated Amortization Expense | $ | 12,256 |  |  | $ | 15,939 |  |  | $ | 9,090 |  |  | $ | 6,378 |  |  | $ | 4,229 |  |  | $ | 8,258 |
Goodwill Rollforward | Changes in the carrying amount of goodwill for each reportable segment were as follows (in thousands):
| Contractor |  | Industrial |  | Process |  | Total
Balance, December 29, 2023 | $ | 77,542 |  |  | $ | 143,132 |  |  | $ | 149,554 |  |  | $ | 370,228 |
Foreign currency translation | (333) |  |  | (6,331) |  |  | (204) |  |  | (6,868) |
Balance, March 29, 2024 | $ | 77,209 |  |  | $ | 136,801 |  |  | $ | 149,350 |  |  | $ | 363,360 |

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- Definition Disclosure of the characteristics, including initial carrying value, residual amount, weighted average useful life, of finite-lived and indefinite lived intangible assets by major class. A major class is composed of intangible assets that can be grouped together because they are similar, either by nature or by their use in the operations of the company. + References No definition available. + Details
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