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Note 2 - Goodwill and Purchased Intangible Assets | 12 Months Ended
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Dec. 28, 2024
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 28, 2024, and December 30, 2023, were as follows (in thousands):
|  | Total Goodwill |
Balance December 31, 2022 |  | $ | 213,539 |
Additions |  |  | 24,132 |
Impact of currency exchange |  |  | 3,987 |
Balance December 30, 2023 |  |  | 241,658 |
Impact of currency exchange |  |  | (7,019 | )
Balance December 28, 2024 |  | $ | 234,639 |
Purchased intangible assets, subject to amortization, are as follows (in thousands):
|  | December 28, 2024 |  |  | December 30, 2023 |
|  |  |  |  |  |  |  |  |  | Remaining |  |  |  |  |  |  |  |  |
|  | Gross Carrying |  |  | Accumulated |  |  | Useful Life |  |  | Gross Carrying |  |  | Accumulated |
|  | Amount |  |  | Amortization |  |  | (years) |  |  | Amount |  |  | Amortization |
Developed technology |  | $ | 228,789 |  |  | $ | 163,453 |  |  |  | 3.7 |  |  | $ | 233,623 |  |  | $ | 137,168 |
Customer relationships |  |  | 72,570 |  |  |  | 35,229 |  |  |  | 6.2 |  |  |  | 73,759 |  |  |  | 28,932 |
Trade names |  |  | 20,926 |  |  |  | 12,930 |  |  |  | 4.6 |  |  |  | 21,569 |  |  |  | 11,231 |
Backlog |  |  | 100 |  |  |  | 100 |  |  |  | - |  |  |  | 100 |  |  |  | 25 |
Covenant not-to-compete |  |  | 223 |  |  |  | 179 |  |  |  | 2.0 |  |  |  | 250 |  |  |  | 175 |
|  | $ | 322,608 |  |  | $ | 211,891 |  |  |  |  |  |  | $ | 329,301 |  |  | $ | 177,531 |
Changes in the carrying values of purchased intangible assets presented above are a result of the impact of fluctuations in currency exchange rates. We evaluate goodwill 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, 2024 and concluded there were no impairments of goodwill within our reporting units at that time. Other events and changes in circumstances may also require goodwill to be tested for impairment between annual measurement dates. Amortization expense related to purchased intangible assets was approximately $39.1 million in fiscal 2024, $36.4 million in fiscal 2023 and $33.2 million in fiscal 2022. As of December 28, 2024, we expect amortization expense in future periods to be as follows: fiscal 2025 - $35.5 million; fiscal 2026 - $24.9 million; fiscal 2027 - $16.9 million; fiscal 2028 - $11.6 million fiscal 2029 - $7.7 million; and thereafter $14.1 million.

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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 + Details
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