XML 22 R13.htm IDEA: XBRL DOCUMENT
v3.23.3

Goodwill and Other Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill The changes in the net carrying amount of goodwill by operating segment were as follows:
(Dollars in thousands) | Advanced Electronics Solutions |  | Elastomeric Material Solutions |  | Other |  | Total
December 31, 2022 | $ | 115,352 |  |  | $ | 234,789 |  |  | $ | 2,224 |  |  | $ | 352,365 |
Foreign currency translation adjustment | (520) |  |  | 369 |  |  | — |  |  | $ | (151) |
September 30, 2023 | $ | 114,832 |  |  | $ | 235,158 |  |  | $ | 2,224 |  |  | $ | 352,214 |
Other Intangible Assets The gross and net carrying amounts, as well as the accumulated amortization of other intangible assets were as follows:
| September 30, 2023 |  | December 31, 2022
(Dollars in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 175,214 |  |  | $ | 87,232 |  |  | $ | 87,982 |  |  | $ | 178,605 |  |  | $ | 85,569 |  |  | $ | 93,036 |
Technology | 75,898 |  |  | 55,788 |  |  | 20,110 |  |  | 82,349 |  |  | 59,052 |  |  | 23,297 |
Trademarks and trade names | 18,840 |  |  | 7,040 |  |  | 11,800 |  |  | 19,098 |  |  | 6,639 |  |  | 12,459 |
Covenants not to compete | 1,479 |  |  | 1,051 |  |  | 428 |  |  | 1,919 |  |  | 1,199 |  |  | 720 |
Total definite-lived other intangible assets | 271,431 |  |  | 151,111 |  |  | 120,320 |  |  | 281,971 |  |  | 152,459 |  |  | 129,512 |
Indefinite-lived other intangible asset | 4,176 |  |  | — |  |  | 4,176 |  |  | 4,212 |  |  | — |  |  | 4,212 |
Total other intangible assets | $ | 275,607 |  |  | $ | 151,111 |  |  | $ | 124,496 |  |  | $ | 286,183 |  |  | $ | 152,459 |  |  | $ | 133,724 |
In the table above, gross carrying amounts and accumulated amortization may differ from prior periods due to foreign exchange rate fluctuations. Amortization expense was $3.4 million and $4.1 million for the three months ended September 30, 2023 and 2022, respectively, and $10.0 million and $12.6 million for the nine months ended September 30, 2023 and 2022, respectively. The estimated future amortization expense is $3.3 million for the remainder of 2023 and $12.2 million, $10.6 million, $10.2 million and $9.9 million for 2024, 2025, 2026 and 2027, respectively. The weighted average amortization period as of September 30, 2023, by definite-lived other intangible asset class, was as follows:
Definite-Lived Other Intangible Asset Class |  | Weighted Average Remaining Amortization Period
Customer relationships |  | 7.5 years
Technology |  | 3.4 years
Trademarks and trade names |  | 10.0 years
Covenants not to compete |  | 0.6 years
Total definite-lived other intangible assets |  | 7.0 years

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration