Goodwill and Definite-lived Intangibles

12 Months Ended

Dec. 29, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

(6)

Goodwill and Definite-lived Intangibles

Goodwill

In connection with the Company’s assessment of its operating segments, effective during the quarter ended June 30, 2025, the Company determined that its operating segments were also its reporting units and reallocated its PCB goodwill between A&D and Commercial based on the estimated relative fair values of the reporting units. In connection with the reallocation of goodwill, management performed a goodwill impairment assessment for each segment and concluded no impairment indicators existed as of June 30, 2025.

Goodwill by reportable segment was as follows:


	A&D		Commercial		RF&S Components			Total
	(In thousands)
As of December 29, 2025 and December 30, 2024
Goodwill	$	256,199	$	382,636	$	177,200		$	816,035
Accumulated impairment losses		—		—		(145,900	)		(145,900	)
Carrying amount	$	256,199	$	382,636	$	31,300		$	670,135

In the fourth quarter of 2025, the Company performed its annual goodwill impairment test qualitatively and concluded that it was more likely than not that there was no impairment to goodwill.

Definite-lived Intangibles

The components of definite-lived intangibles were as follows:


	Gross Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Amortization Period
	(In thousands)							(In years)
As of December 29, 2025
Customer relationships	$	323,500	$	(189,264	)	$	134,236		11.8
Technology		66,650		(45,964	)		20,686		8.2
Total	$	390,150	$	(235,228	)	$	154,922

As of December 30, 2024
Customer relationships	$	323,500	$	(161,710	)	$	161,790		11.8
Technology		66,650		(36,621	)		30,029		8.2
Total	$	390,150	$	(198,331	)	$	191,819

Amortization expense was $36,897, $44,892, and $61,576 for the years ended December 29, 2025, December 30, 2024, and January 1, 2024, respectively. For the years ended December 29, 2025, December 30, 2024, and January 1, 2024, $9,343, $9,342, and $12,901, respectively, of amortization expense was included in cost of goods sold.

In connection with the finalization of acquired identifiable intangible asset valuation during the second quarter of 2023 related to the Company's acquisition in 2022 of Telephonics, the Company recorded amortization expense of $24,877 related to the acquired identifiable intangible assets during the year ended January 1, 2024. For the year ended January 1, 2024, $8,850 of amortization expense related to the acquired identifiable intangible assets was included in cost of goods sold.

Estimated aggregate amortization for definite-lived intangible assets for the next five years and thereafter is as follows:


	(In thousands)
2026	$	36,897
2027		34,543
2028		30,997
2029		22,355
2030		18,178
Thereafter		11,952
Total	$	154,922