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Goodwill and Intangible Assets (Tables) | 9 Months Ended
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Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract] |
Summary of Changes in Goodwill | The following table summarizes changes in goodwill during the nine months ended September 30, 2022 (in thousands):
Balance at beginning of the period | $ | 479,500 |
Goodwill acquired from acquisitions |  | 9,863 |
Effect of foreign exchange rate changes |  | (24,311 | )
Balance at end of the period | $ | 465,052 |
Goodwill by Reportable Segment | Goodwill by reportable segment as of September 30, 2022 was as follows (in thousands):
| Reportable Segment |  |  |  |
| Photonics |  |  | Vision |  |  | Precision Motion |  |  | Total |
Goodwill | $ | 201,864 |  |  | $ | 162,128 |  |  | $ | 252,289 |  |  | $ | 616,281 |
Accumulated impairment of goodwill |  | (102,461 | ) |  |  | (31,722 | ) |  |  | (17,046 | ) |  |  | (151,229 | )
Total | $ | 99,403 |  |  | $ | 130,406 |  |  | $ | 235,243 |  |  | $ | 465,052 |
Goodwill by reportable segment as of December 31, 2021 was as follows (in thousands):
| Reportable Segment |  |  |  |
| Photonics |  |  | Vision |  |  | Precision Motion |  |  | Total |
Goodwill | $ | 214,564 |  |  | $ | 160,675 |  |  | $ | 255,490 |  |  | $ | 630,729 |
Accumulated impairment of goodwill |  | (102,461 | ) |  |  | (31,722 | ) |  |  | (17,046 | ) |  |  | (151,229 | )
Total | $ | 112,103 |  |  | $ | 128,953 |  |  | $ | 238,444 |  |  | $ | 479,500 |
Intangible Assets | Intangible assets as of September 30, 2022 and December 31, 2021, respectively, are summarized as follows (in thousands):
| September 30, 2022 |  |  | December 31, 2021 |
| Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents and developed technologies | $ | 178,968 |  |  | $ | (125,375 | ) |  | $ | 53,593 |  |  | $ | 189,609 |  |  | $ | (122,130 | ) |  | $ | 67,479 |
Customer relationships |  | 215,274 |  |  |  | (112,689 | ) |  |  | 102,585 |  |  |  | 228,656 |  |  |  | (104,386 | ) |  |  | 124,270 |
Customer backlog |  | 6,795 |  |  |  | (6,795 | ) |  |  | — |  |  |  | 6,862 |  |  |  | (2,254 | ) |  |  | 4,608 |
Trademarks and trade names |  | 22,644 |  |  |  | (12,736 | ) |  |  | 9,908 |  |  |  | 23,976 |  |  |  | (12,371 | ) |  |  | 11,605 |
Amortizable intangible assets |  | 423,681 |  |  |  | (257,595 | ) |  |  | 166,086 |  |  |  | 449,103 |  |  |  | (241,141 | ) |  |  | 207,962 |
Non-amortizable intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names |  | 13,027 |  |  |  | — |  |  |  | 13,027 |  |  |  | 13,027 |  |  |  | — |  |  |  | 13,027 |
Totals | $ | 436,708 |  |  | $ | (257,595 | ) |  | $ | 179,113 |  |  | $ | 462,130 |  |  | $ | (241,141 | ) |  | $ | 220,989 |
Amortization Expense of Intangible Assets | Amortization expense was as follows (in thousands):
| Three Months Ended |  |  | Nine Months Ended |
| September 30, |  |  | October 1, |  |  | September 30, |  |  | October 1, |
| 2022 |  |  | 2021 |  |  | 2022 |  |  | 2021 |
Amortization expense – cost of revenue | $ | 3,247 |  |  | $ | 3,316 |  |  | $ | 10,004 |  |  | $ | 9,275 |
Amortization expense – operating expenses |  | 6,472 |  |  |  | 4,139 |  |  |  | 20,987 |  |  |  | 11,300 |
Total amortization expense | $ | 9,719 |  |  | $ | 7,455 |  |  | $ | 30,991 |  |  | $ | 20,575 |
Estimated Amortization Expense | Estimated amortization expense for each of the five succeeding years and thereafter as of September 30, 2022 was as follows (in thousands):
Year Ending December 31, |  | Cost of Revenue |  |  | Operating Expenses |  |  | Total |
2022 (remainder of year) |  | $ | 3,186 |  |  | $ | 5,242 |  |  | $ | 8,428 |
2023 |  |  | 11,583 |  |  |  | 19,633 |  |  |  | 31,216 |
2024 |  |  | 9,434 |  |  |  | 16,467 |  |  |  | 25,901 |
2025 |  |  | 8,041 |  |  |  | 13,931 |  |  |  | 21,972 |
2026 |  |  | 6,750 |  |  |  | 11,835 |  |  |  | 18,585 |
Thereafter |  |  | 14,599 |  |  |  | 45,385 |  |  |  | 59,984 |
Total |  | $ | 53,593 |  |  | $ | 112,493 |  |  | $ | 166,086 |

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