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GOODWILL AND OTHER INTANGIBLE ASSETS, NET

6 Months Ended

Jun. 27, 2025

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 for the six months ended June 27, 2025 were as follows (in thousands):

			Medical
December 31, 2024			$	1,017,729
Precision and VSi acquisitions (Note 2)			56,752
Acquisition-related adjustments (Note 2)			(49)
Foreign currency translation			25,939
June 27, 2025			$	1,100,371

Intangible Assets

See Note 2, “Business Acquisitions” for additional details regarding intangible assets acquired during 2025. Intangible assets comprise the following (in thousands):

			Gross Carrying Amount						Accumulated Amortization												Net Carrying Amount
June 27, 2025
Definite-lived:
Purchased technology and patents			$	326,365					$	(218,066)											$	108,299
Customer lists			955,854						(312,167)												643,687
Amortizing tradenames and other			20,080						(7,809)												12,271
Total amortizing intangible assets			$	1,302,299					$	(538,042)											$	764,257
Indefinite-lived:
Trademarks and tradenames																					$	90,288
December 31, 2024
Definite-lived:
Purchased technology and patents			$	293,164					$	(204,591)											$	88,573
Customer lists			870,692						(284,104)												586,588
Amortizing tradenames and other			20,002						(7,165)												12,837
Total amortizing intangible assets			$	1,183,858					$	(495,860)											$	687,998
Indefinite-lived:
Trademarks and tradenames																					$	90,288

Aggregate intangible asset amortization expense comprises the following (in thousands):

			Three Months Ended												Six Months Ended
			June 27, 2025						June 28, 2024						June 27, 2025						June 28, 2024
Cost of sales			$	4,942					$	3,618					$	9,516					$	7,881
Selling, general and administrative expenses			11,178						9,991						21,455						19,079
Total intangible asset amortization expense			$	16,120					$	13,609					$	30,971					$	26,960

Estimated future intangible asset amortization expense based on the carrying value as of June 27, 2025 is as follows (in thousands):

			Remainder of 2025						2026						2027						2028						2029						After 2029
Amortization Expense			$	33,402					$	63,250					$	60,257					$	58,647					$	56,339					$	492,362

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- References

No definition available.

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- Definition

The entire disclosure for goodwill and intangible assets.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 30
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-30/tableOfContent

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/350-20/tableOfContent

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