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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 | Goodwill and Intangible Assets Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist. Goodwill of companies acquired, allocated to the company’s business segments, is as follows:
(thousands) |  | Global Components |  | Global ECS |  | Total
Balance as of December 31, 2022 (a) |  | $ | 873,003 |  |  | $ | 1,154,623 |  |  | $ | 2,027,626 |
Foreign currency translation adjustment |  | 1,047 |  |  | 7,404 |  |  | 8,451 |
Balance as of April 1, 2023 (a) |  | $ | 874,050 |  |  | $ | 1,162,027 |  |  | $ | 2,036,077 |
(a) The total carrying value of goodwill as of April 1, 2023 and December 31, 2022 in the table above is reflected net of $1.6 billion of accumulated impairment charges, of which $1.3 billion was recorded in the global components business segment and $301.9 million was recorded in the global enterprise computing solutions ("ECS") business segment. Intangible assets, net, are comprised of the following as of April 1, 2023:
(thousands) |  |  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Customer relationships |  |  |  | $ | 268,389 |  |  | $ | (150,254) |  |  | $ | 118,135 |
Amortizable trade name |  |  |  | 74,027 |  |  | (40,941) |  |  | 33,086 |
|  |  |  | $ | 342,416 |  |  | $ | (191,195) |  |  | $ | 151,221 |
Intangible assets, net, are comprised of the following as of December 31, 2022:
(thousands) |  |  |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Customer relationships |  |  |  | $ | 268,180 |  |  | $ | (144,655) |  |  | $ | 123,525 |
Amortizable trade name |  |  |  | 74,011 |  |  | (38,399) |  |  | 35,612 |
|  |  |  | $ | 342,191 |  |  | $ | (183,054) |  |  | $ | 159,137 |
During the first quarter of 2023 and 2022, the company recorded amortization expense related to identifiable intangible assets of $8.0 million and $9.0 million, respectively.

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