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Note 2 - Goodwill and Purchased Intangible Assets | 12 Months Ended
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Dec. 31, 2022
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] |
2. | Goodwill and Purchased Intangible Assets
Changes in the carrying value of our goodwill during the years ended December 31, 2022, and December 25, 2021, were as follows (in thousands):
|  | Semiconductor Test & Inspection |  |  | PCB Test |  |  | Total Goodwill |
Balance December 26, 2020 |  | $ | 230,724 |  |  | $ | 21,580 |  |  | $ | 252,304 |
Sale of PCB Test Business (1) |  |  | - |  |  |  | (21,899 | ) |  |  | (21,899 | )
Impact of currency exchange |  |  | (10,933 | ) |  |  | 319 |  |  |  | (10,614 | )
Balance December 25, 2021 |  |  | 219,791 |  |  |  | - |  |  |  | 219,791 |
Impact of currency exchange |  |  | (6,252 | ) |  |  | - |  |  |  | (6,252 | )
Balance December 31, 2022 |  | $ | 213,539 |  |  | $ | - |  |  | $ | 213,539 |
| (1) | On June 24, 2021, we completed the sale of our PCB Test business. See Note 14, “Business Divestitures and Discontinued Operations” for additional information.
Purchased intangible assets, subject to amortization, are as follows (in thousands):
|  | December 31, 2022 |  |  | December 25, 2021 |
|  |  |  |  |  |  |  |  |  | Remaining |  |  |  |  |  |  |  |  |
|  | Gross Carrying |  |  | Accumulated |  |  | Useful Life |  |  | Gross Carrying |  |  | Accumulated |
|  | Amount |  |  | Amortization |  |  | (years) |  |  | Amount |  |  | Amortization |
Developed technology |  | $ | 224,253 |  |  | $ | 128,938 |  |  |  | 3.6 |  |  | $ | 229,131 |  |  | $ | 104,855 |
Customer relationships |  |  | 64,632 |  |  |  | 31,015 |  |  |  | 6.5 |  |  |  | 65,916 |  |  |  | 26,189 |
Trade names |  |  | 20,461 |  |  |  | 9,397 |  |  |  | 6.4 |  |  |  | 20,877 |  |  |  | 7,714 |
Covenant not-to-compete |  |  | 269 |  |  |  | 161 |  |  |  | 4.0 |  |  |  | 308 |  |  |  | 154 |
|  | $ | 309,615 |  |  | $ | 169,511 |  |  |  |  |  |  | $ | 316,232 |  |  | $ | 138,912 |
Changes in the carrying values of purchased intangible assets presented above are a result of the impact of fluctuation in currency exchange rates and the sale of our PCB Test business. We evaluate goodwill and other indefinite-lived intangible assets for impairment annually and when an event occurs, or circumstances change that indicate that the carrying value may not be recoverable. We completed our required annual goodwill impairment testing as of October 1, 2022, the first day of our fourth quarter and concluded there were no impairments of goodwill within our reporting units or our indefinite-lived intangible assets at that time. Other events and changes in circumstances may also require goodwill and our indefinite-lived intangible assets to be tested for impairment between annual measurement dates. During the fourth quarter of 2021 we completed and transferred to developed technology an in-process technology project which was reviewed for impairment as part of this process. Due to a change in forecasted results an impairment charge of $0.1 million was recorded. Amortization expense related to purchased intangible assets was approximately $33.2 million in 2022, $35.4 million in 2021 and $38.7 million in 2020. As of December 31, 2022, we expect amortization expense in future periods to be as follows: 2023 - $33.4 million; 2024 - $33.4 million; 2025 - $24.8 million; 2026 - $18.6 million 2027 - $15.1 million; and thereafter $14.8 million.

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