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Intangible Assets (Tables) | 9 Months Ended
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Sep. 27, 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 September 27, 2024 |  |  |  |  |  |  |  |  |
Cost | $ | 194,417 |  |  | $ | 14,174 |  |  | $ | 1,700 |  |  | $ | 62,633 |  |  | $ | 272,924 |
Accumulated amortization | (139,594) |  |  | (9,828) |  |  | (734) |  |  | — |  |  | (150,156) |
Foreign currency translation | (7,287) |  |  | (330) |  |  | — |  |  | 1,813 |  |  | (5,804) |
Book value | $ | 47,536 |  |  | $ | 4,016 |  |  | $ | 966 |  |  | $ | 64,446 |  |  | $ | 116,964 |
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 | $ | 4,264 |  |  | $ | 16,908 |  |  | $ | 9,729 |  |  | $ | 6,913 |  |  | $ | 4,707 |  |  | $ | 9,997 |
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 |
Additions, adjustments from business acquisitions | — |  |  | — |  |  | 4,022 |  |  | 4,022 |
Foreign currency translation | 65 |  |  | (667) |  |  | 814 |  |  | 212 |
Balance, September 27, 2024 | $ | 77,607 |  |  | $ | 142,465 |  |  | $ | 154,390 |  |  | $ | 374,462 |

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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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