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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill Goodwill included the following:
(in thousands) | Light Duty |  | Heavy Duty |  | Specialty Vehicle |  | Consolidated
Balance at December 25, 2021 | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 197,332 |
Goodwill acquired | — |  |  | — |  |  | — |  |  | 247,247 |
Foreign currency translation | — |  |  | — |  |  | — |  |  | (1,544) |
Balance at December 31, 2022 | — |  |  | — |  |  | — |  |  | 443,035 |
Measurement period adjustments | — |  |  | — |  |  | — |  |  | 233 |
Reporting structure reorganization (see Note 8) | 313,704 |  |  | 56,637 |  |  | 72,309 |  |  | — |
Foreign currency translation | — |  |  | — |  |  | — |  |  | 621 |
Balance at December 31, 2023 | $ | 313,704 |  |  | $ | 56,637 |  |  | $ | 72,309 |  |  | $ | 443,889 |
Intangible Assets Intangible assets, subject to amortization, included the following:
|  |  |  | December 31, 2023 |  | December 31, 2022
Intangible assets subject to amortization |  | Weighted Average Amortization Period (years) |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships |  | 16.2 |  | $ | 175,430 |  |  | $ | 31,678 |  |  | $ | 143,752 |  |  | $ | 175,430 |  |  | $ | 21,643 |  |  | $ | 153,787 |
Trade names |  | 14.9 |  | 67,690 |  |  | 10,676 |  |  | 57,014 |  |  | 67,690 |  |  | 6,370 |  |  | 61,320 |
Product Portfolio |  | 14.6 |  | 107,800 |  |  | 9,720 |  |  | 98,080 |  |  | 107,800 |  |  | 2,953 |  |  | 104,847 |
Technology |  | 4.7 |  | 2,167 |  |  | 1,069 |  |  | 1,098 |  |  | 2,167 |  |  | 820 |  |  | 1,347 |
Patents and Other |  | 6.6 |  | 2,230 |  |  | 618 |  |  | 1,612 |  |  | 1,430 |  |  | 322 |  |  | 1,108 |
Total |  |  |  | $ | 355,317 |  |  | $ | 53,761 |  |  | $ | 301,556 |  |  | $ | 354,517 |  |  | $ | 32,108 |  |  | $ | 322,409 |
Amortization expense associated with intangible assets was $22.1 million, $14.2 million and $6.5 million in fiscal 2023, fiscal 2022 and fiscal 2021, respectively. The estimated future amortization expense for intangible assets as of December 31, 2023, is summarized as follows:
(in thousands) |
2024 | $ | 22,131 |
2025 | 21,998 |
2026 | 20,867 |
2027 | 20,178 |
2028 | 20,004 |
Thereafter | 196,378 |
Total | $ | 301,556 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
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