XML 23 R9.htm IDEA: XBRL DOCUMENT v3.25.1
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill amounts by reportable segment are summarized as follows:
Goodwill at
Acquisitions
Dispositions
Other (1)
Goodwill at
December 28, 2024March 29, 2025
Hardware and Protective Solutions$581,187 $— $(27)$581,160 
Robotics and Digital Solutions220,936 — — — 220,936 
Canada26,430 — — 201 26,631 
Total$828,553 $— $— $174 $828,727 
(1)The "Other" change to goodwill relates to adjustments resulting from fluctuations in foreign currency exchange rates for the Canada, Hardware Solutions, and Protective Solutions reporting units.
Other intangibles, net, as of March 29, 2025 and December 28, 2024 consist of the following: 
Estimated
Useful Life
(Years)
March 29, 2025December 28, 2024
Customer relationships13-20$955,066 $954,888 
Trademarks - indefiniteIndefinite84,922 84,883 
Trademarks - other2-1529,549 29,549 
Technology and patents5-1267,009 66,937 
Intangible assets, gross1,136,546 1,136,257 
Less: Accumulated amortization545,911 530,398 
Other intangibles, net$590,635 $605,859 
    
The amortization expense for intangible assets, including the adjustments resulting from fluctuations in foreign currency exchange rates for the thirteen weeks ended March 29, 2025 and the thirteen weeks ended March 30, 2024 was $15,415 and $15,254, respectively.
The Company tests goodwill and indefinite-lived intangible assets for impairment annually in the fourth quarter. Impairment is also tested when events or changes in circumstances indicate that the carrying values of the assets may be greater than their fair values. During the thirteen weeks ended March 29, 2025 and the thirteen weeks ended March 30, 2024, the Company did not identify any triggering events that would result in an impairment analysis outside of the annual assessment.