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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | (4) GOODWILL AND INTANGIBLE ASSETS Amortized Intangible Assets The components of amortized intangible assets at April 1, 2023 and December 31, 2022 were as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | April 1, 2023
​ | ​ | Gross | ​ | ​ | ​ | ​ | Weighted
​ | ​ | Carrying | ​ | Accumulated | ​ | Average
​ |  | Amount |  | Amortization |  | Life
Customer Relationships | ​ | $ | 223,388 | ​ | $ | 149,136 | ​ | 13 years
Patents & Proprietary Technology | ​ |  | 58,687 | ​ |  | 23,350 |  | 9 years
Trade Name | ​ |  | 2,850 | ​ |  | 746 |  | 7 years
Other | ​ |  | 2,647 | ​ |  | 2,289 |  | 5 years
​ | ​ | $ | 287,572 | ​ | $ | 175,521 | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Gross | ​ | ​ | ​ | ​ | Weighted
​ | ​ | Carrying | ​ | Accumulated | ​ | Average
​ | ​ | Amount |  | Amortization |  | Life
Customer Relationships | ​ | $ | 222,716 | ​ | $ | 145,502 | ​ | 13 years
Patents & Proprietary Technology | ​ |  | 58,404 | ​ |  | 21,291 |  | 9 years
Trade Name | ​ |  | 2,850 | ​ |  | 645 |  | 7 years
Other | ​ |  | 2,462 | ​ |  | 2,164 |  | 5 years
​ | ​ | $ | 286,432 | ​ | $ | 169,602 | ​ | ​
​ Amortization expense for intangible assets for the thirteen weeks ended April 1, 2023 and March 26, 2022, respectively, was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Thirteen weeks ended
​ |  | 2023 |  | 2022
Amortization expense | ​ | $ | 5,190 | ​ | $ | 5,849
​ ​ (4) GOODWILL AND INTANGIBLE ASSETS – CONTINUED Estimated annual amortization expense related to finite-lived intangible assets is as follows:
​ | ​ | ​ | ​
​ |  | Estimated
​ | ​ | Amortization
​ | ​ | Expense
Remainder of 2023 | ​ | $ | 15,804
2024 | ​ |  | 19,028
2025 | ​ |  | 17,348
2026 | ​ |  | 12,834
2027 | ​ | ​ | 9,653
2028 | ​ |  | 8,837
​ The useful lives assigned to finite-lived intangible assets included consideration of factors such as the Company’s past and expected experience related to customer retention rates, the remaining legal or contractual life of the underlying arrangement that resulted in the recognition of the intangible asset, and the Company’s expected use of the intangible asset. Non-Amortized Intangible Assets Intangible assets with indefinite lives are not amortized and consist solely of trade names. The carrying value of trade names at April 1, 2023 and December 31, 2022 are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | April 1, |  | December 31, |  | Year
​ | ​ | 2023 | ​ | 2022 | ​ | Acquired
Newmark | ​ | $ | 11,111 | ​ | $ | 11,111 |  | 2004
Convert Italia S.p.A. | ​ |  | 8,131 | ​ |  | 8,024 |  | 2018
Webforge | ​ | ​ | 7,248 | ​ | ​ | 7,107 | ​ | 2010
Ingal EPS / Ingal Civil Products | ​ |  | 7,027 | ​ |  | 6,891 |  | 2010
ConcealFab | ​ |  | 5,000 | ​ |  | 5,000 |  | 2022
Shakespeare | ​ |  | 4,000 | ​ |  | 4,000 |  | 2014
Walpar | ​ |  | 3,500 | ​ |  | 3,500 |  | 2018
Other | ​ |  | 14,232 | ​ |  | 14,152 |  | Various
​ | ​ | $ | 60,249 | ​ | $ | 59,785 | ​ | ​
​ In its determination of these intangible assets as indefinite-lived, the Company considered such factors as its expected future use of the intangible asset, legal, regulatory, technological, and competitive factors that may impact the useful life or value of the intangible asset, and the expected costs to maintain the value of the intangible asset. The Company expects that these intangible assets will maintain their value indefinitely. Accordingly, these assets are not amortized. The Company’s trade names were tested for impairment at August 27, 2022. The values of each trade name were determined using the relief-from-royalty method. Based on this evaluation, no trade names were determined to be impaired. (4) GOODWILL AND INTANGIBLE ASSETS – CONTINUED Goodwill The carrying amount of goodwill by segment at April 1, 2023 and December 31, 2022 was as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Infrastructure |  | Agriculture |  | ​ | ​
​ | ​ | Segment | ​ | Segment | ​ | Total
Gross Balance December 31, 2022 | ​ | $ | 473,551 | ​ | $ | 313,777 | ​ | $ | 787,328
Accumulated impairment losses | ​ |  | (47,467) | ​ |  | — | ​ |  | (47,467)
Balance at December 31, 2022 | ​ |  | 426,084 | ​ |  | 313,777 | ​ | ​ | 739,861
Foreign currency translation | ​ |  | 1,704 | ​ |  | 170 | ​ |  | 1,874
Balance at April 1, 2023 | ​ | $ | 427,788 | ​ | $ | 313,947 | ​ | $ | 741,735
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Infrastructure |  | Agriculture |  | ​ | ​
​ | ​ | Segment | ​ | Segment | ​ | Total
Gross Balance April 1, 2023 | ​ | $ | 475,255 | ​ | $ | 313,947 | ​ | $ | 789,202
Accumulated impairment losses | ​ | ​ | (47,467) | ​ | ​ | — | ​ | ​ | (47,467)
Balance at April 1, 2023 | ​ | $ | 427,788 | ​ | $ | 313,947 | ​ | $ | 741,735
​ The Company’s annual impairment test of goodwill was performed at August 27, 2022, using primarily the discounted cash flow method. The estimated fair value of all our reporting units exceeded their respective carrying value, so no goodwill impairments were recorded. During fiscal 2023, no goodwill impairments have been recorded.

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