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Goodwill and Other Intangible Assets, Net | 6 Months Ended
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Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS, NET | GOODWILL AND OTHER INTANGIBLE ASSETS, NET Goodwill The changes in the carrying amount of goodwill by reportable segment for the six months ended July 1, 2022 were as follows (in thousands):
| Medical |  | Non- Medical |  | Total
December 31, 2021 | $ | 907,704 |  |  | $ | 17,000 |  |  | $ | 924,704 |
Acquisition (Note 2) | 68,460 |  |  | — |  |  | 68,460 |
Acquisition-related adjustments (Note 2) | 414 |  |  |  |  | 414 |
Foreign currency translation | (15,019) |  |  | — |  |  | (15,019) |
July 1, 2022 | $ | 961,559 |  |  | $ | 17,000 |  |  | $ | 978,559 |
Intangible Assets The Company reclassified purchased tradenames with a net carrying value of $16.2 million from Purchased technology and patents as of December 31, 2021 to Amortizing tradenames and other to conform to the current period presentation. The Company made this reclassification to better align with the classification of amortization expense for similar assets. See Note 2 “Business Acquisitions” for additional details regarding intangible assets acquired during 2022. Intangible assets comprise the following (in thousands):
| Gross Carrying Amount |  | Accumulated Amortization |  |  |  | Net Carrying Amount
July 1, 2022 |  |  |  |  |  |  |
Definite-lived: |  |  |  |  |  |  |
Purchased technology and patents | $ | 283,022 |  |  | $ | (170,380) |  |  |  |  | $ | 112,642 |
Customer lists | 822,121 |  |  | (200,119) |  |  |  |  | 622,002 |
Amortizing tradenames and other | 21,021 |  |  | (4,831) |  |  |  |  | 16,190 |
Total amortizing intangible assets | $ | 1,126,164 |  |  | $ | (375,330) |  |  |  |  | $ | 750,834 |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and tradenames |  |  |  |  |  |  | $ | 90,288 |
December 31, 2021 |  |  |  |  |  |  |
Definite-lived: |  |  |  |  |  |  |
Purchased technology and patents | $ | 269,359 |  |  | $ | (164,298) |  |  |  |  | $ | 105,061 |
Customer lists | 783,618 |  |  | (187,412) |  |  |  |  | 596,206 |
Amortizing tradenames and other | 20,462 |  |  | (4,207) |  |  |  |  | 16,255 |
Total amortizing intangible assets | $ | 1,073,439 |  |  | $ | (355,917) |  |  |  |  | $ | 717,522 |
Indefinite-lived: |  |  |  |  |  |  |
Trademarks and tradenames |  |  |  |  |  |  | $ | 90,288 |
Aggregate intangible asset amortization expense comprises the following (in thousands):
| Three Months Ended |  | Six Months Ended
| July 1, 2022 |  | July 2, 2021 |  | July 1, 2022 |  | July 2, 2021
Cost of sales | $ | 4,037 |  |  | $ | 3,233 |  |  | $ | 7,682 |  |  | $ | 6,501 |
Selling, general and administrative expenses | 8,248 |  |  | 7,106 |  |  | 16,207 |  |  | 14,288 |
Total intangible asset amortization expense | $ | 12,285 |  |  | $ | 10,339 |  |  | $ | 23,889 |  |  | $ | 20,789 |
(5.) GOODWILL AND OTHER INTANGIBLE ASSETS, NET (Continued) Estimated future intangible asset amortization expense based on the carrying value as of July 1, 2022 is as follows (in thousands):
| Remainder of 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | After 2026
Amortization Expense | $ | 24,618 |  |  | 51,982 |  |  | 51,352 |  |  | 50,542 |  |  | 48,709 |  |  | 523,631 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI https://asc.fasb.org/topic&trid=2144416 + Details
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