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Goodwill and Intangible Assets | 3 Months Ended
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Apr. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS As of April 1, 2022 and December 31, 2021 the carrying amount of goodwill was $321.7 million. The Company tests goodwill for impairment on the first day of the Company's fourth fiscal quarter each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying amount. Identifiable intangible assets consist of the following:
|  | April 1, 2022 |  | December 31, 2021
(In thousands) |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Contract backlogs and recompetes |  | $ | 77,300 |  |  | $ | (16,868) |  |  | $ | 60,432 |  |  | $ | 77,300 |  |  | $ | (14,988) |  |  | $ | 62,312 |
Customer contracts |  | 7,200 |  |  | (3,932) |  |  | 3,268 |  |  | 7,200 |  |  | (3,572) |  |  | 3,628 |
Trade names and other |  | 1,249 |  |  | (668) |  |  | 581 |  |  | 1,249 |  |  | (607) |  |  | 642 |
Balance |  | $ | 85,749 |  |  | $ | (21,468) |  |  | $ | 64,281 |  |  | $ | 85,749 |  |  | $ | (19,167) |  |  | $ | 66,582 |
Identifiable intangible asset amortization expense was $2.3 million and $2.5 million for the three months ended April 1, 2022 and April 2, 2021, respectively. As of April 1, 2022, the remaining average intangible asset amortization period was 9.2 years. Future estimated amortization expense is as follows (in thousands):
Period |  |  |  | Amortization
2022 (remainder of the year) |  | $ | 6,365 |
2023 |  | $ | 8,486 |
2024 |  | $ | 7,379 |
2025 |  | $ | 6,582 |
2026 |  | $ | 6,112 |
After 2026 |  | $ | 29,357 |

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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 http://asc.fasb.org/topic&trid=2144416 + Details
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