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Goodwill and Other Intangible Assets (Tables) | 12 Months Ended
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Dec. 28, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of goodwill | The amounts for goodwill and changes in the carrying value by segment are as follows:
(in thousands) | Electronics |  | Transportation |  | Industrial |  | Total
Gross goodwill as of December 31, 2022 | $ | 909,167 |  |  | $ | 234,793 |  |  | $ | 84,889 |  |  | $ | 1,228,849 |
Accumulated impairment losses as of December 31, 2022 | — |  |  | (33,401) |  |  | (8,526) |  |  | (41,927) |
Net goodwill as of December 31, 2022 | $ | 909,167 |  |  | $ | 201,392 |  |  | $ | 76,363 |  |  | $ | 1,186,922 |
Changes during 2023: |  |  |  |  |  |  |
Additions (a) | 3,879 |  |  |  |  | 93,937 |  |  | 97,816 |
Foreign currency translation adjustments | 23,459 |  |  | 2,322 |  |  | 291 |  |  | 26,072 |
Gross goodwill as of December 30, 2023 | 936,505 |  |  | 237,115 |  |  | 179,117 |  |  | 1,352,737 |
Accumulated impairment losses as of December 30, 2023 | — |  |  | (34,004) |  |  | (8,735) |  |  | (42,739) |
Net goodwill as of December 30, 2023 | $ | 936,505 |  |  | $ | 203,111 |  |  | $ | 170,382 |  |  | $ | 1,309,998 |
Changes during 2024: |  |  |  |  |  |  |
Impairments | — |  |  | (8,616) |  |  | (36,147) |  |  | (44,763) |
Foreign currency translation adjustments | (29,634) |  |  | (2,854) |  |  | (4,245) |  |  | (36,733) |
Gross goodwill as of December 28, 2024 | 906,871 |  |  | 233,286 |  |  | 173,882 |  |  | 1,314,039 |
Accumulated impairment losses as of December 28, 2024 | — |  |  | (41,645) |  |  | (43,892) |  |  | (85,537) |
Net goodwill as of December 28, 2024 | $ | 906,871 |  |  | $ | 191,641 |  |  | $ | 129,990 |  |  | $ | 1,228,502 |
(a) The additions resulted from the acquisitions of Western Automation and C&K Switches.
Schedule of finite-lived intangible assets | The components of intangible assets at December 28, 2024 and December 30, 2023 are as follows:
| As of December 28, 2024
(in thousands) | Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value
Land use rights | $ | 16,079 |  |  | $ | 2,994 |  |  | $ | 13,085 |
Patents, licenses, and software | 260,096 |  |  | 180,674 |  |  | 79,422 |
Distribution network | 41,667 |  |  | 41,667 |  |  | — |
Customer relationships, trademarks, and tradenames | 632,572 |  |  | 242,961 |  |  | 389,611 |
Total | $ | 950,414 |  |  | $ | 468,296 |  |  | $ | 482,118 |
| As of December 30, 2023
(in thousands) | Gross Carrying Value |  | Accumulated Amortization |  | Net Book Value
Land use rights | $ | 17,621 |  |  | $ | 2,786 |  |  | $ | 14,835 |
Patents, licenses, and software | 275,337 |  |  | 163,799 |  |  | 111,538 |
Distribution network | 43,210 |  |  | 43,210 |  |  | — |
Customer relationships, trademarks, and tradenames | 689,244 |  |  | 209,481 |  |  | 479,763 |
Total | $ | 1,025,412 |  |  | $ | 419,276 |  |  | $ | 606,136 |
Schedule of finite-lived intangible assets, future amortization expense | Estimated annual amortization expense related to intangible assets with definite lives at December 28, 2024 is as follows:
(in thousands) | Amount
2025 | $ | 57,135 |
2026 | 46,492 |
2027 | 44,467 |
2028 | 44,081 |
2029 | 43,616 |
2030 and thereafter | 246,327 |
Total | $ | 482,118 |

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