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Goodwill and Other Intangible Assets (Tables) | 6 Months Ended
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Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Summary of Reconciliation of Change in Carrying Value of Goodwill | summary of the net carrying amount of goodwill at June 30, 2024 and December 31, 2023, is as follows (in thousands):
| June 30, 2024 |  | December 31, 2023
Goodwill - gross carrying amount | $ | 1,179,564 |  |  | $ | 1,069,125 |
Accumulated impairment losses (1) | (175,879) |  |  | (167,697) |
Goodwill - net carrying amount | $ | 1,003,685 |  |  | $ | 901,428 |
(1) Includes accumulated goodwill impairment expense of $20.6 million recorded at Ergobaby, $72.7 million at Velocity, $24.9 million at Arnold and $57.8 million at PrimaLoft. During the three months ended March 31, 2024, the Company recorded $8.2 million of goodwill impairment expense at Velocity. In the year ended December 31, 2023, the Company recorded $31.6 million of goodwill impairment expense at Velocity and $57.8 million of goodwill impairment expense at PrimaLoft. The following is a reconciliation of the change in the carrying value of goodwill for the six months ended June 30, 2024 by operating segment (in thousands):
|  | Balance at January 1, 2024 |  | Acquisitions/Measurement Period Adjustments |  | Goodwill Impairment |  |  |  |  |  | Balance at June 30, 2024
5.11 |  | $ | 92,966 |  |  | $ | — |  |  | $ | — |  |  |  |  |  |  | $ | 92,966 |
BOA |  | 254,153 |  |  | — |  |  | — |  |  |  |  |  |  | 254,153 |
Ergobaby |  | 41,521 |  |  | 177 |  |  | — |  |  |  |  |  |  | 41,698 |
Lugano |  | 86,337 |  |  | — |  |  | — |  |  |  |  |  |  | 86,337 |
PrimaLoft |  | 232,536 |  |  | — |  |  | — |  |  |  |  |  |  | 232,536 |
The Honey Pot Co. |  | — |  |  | 106,640 |  |  | — |  |  |  |  |  |  | 106,640 |
Velocity Outdoor |  | 8,182 |  |  | — |  |  | (8,182) |  |  |  |  |  |  | — |
Altor |  | 91,130 |  |  | 3,622 |  |  | — |  |  |  |  |  |  | 94,752 |
Arnold |  | 39,267 |  |  | — |  |  | — |  |  |  |  |  |  | 39,267 |
Sterno |  | 55,336 |  |  | — |  |  | — |  |  |  |  |  |  | 55,336 |
Total |  | $ | 901,428 |  |  | $ | 110,439 |  |  | $ | (8,182) |  |  |  |  |  |  | $ | 1,003,685 |
Summary of Other Intangible Assets | Other intangible assets are comprised of the following at June 30, 2024 and December 31, 2023 (in thousands):
| June 30, 2024 |  | December 31, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 790,211 |  |  | $ | (311,140) |  |  | $ | 479,071 |  |  | $ | 772,423 |  |  | $ | (294,628) |  |  | $ | 477,795 |
Technology and patents | 199,378 |  |  | (71,986) |  |  | 127,392 |  |  | 202,898 |  |  | (66,035) |  |  | 136,863 |
Trade names, subject to amortization | 546,264 |  |  | (122,243) |  |  | 424,021 |  |  | 375,507 |  |  | (124,648) |  |  | 250,859 |
Non-compete agreements | 4,638 |  |  | (4,207) |  |  | 431 |  |  | 4,638 |  |  | (4,082) |  |  | 556 |
Other contractual intangible assets | 1,960 |  |  | (1,693) |  |  | 267 |  |  | 1,960 |  |  | (1,593) |  |  | 367 |
Total | 1,542,451 |  |  | (511,269) |  |  | 1,031,182 |  |  | 1,357,426 |  |  | (490,986) |  |  | 866,440 |
Trade names, not subject to amortization | 56,965 |  |  | — |  |  | 56,965 |  |  | 56,965 |  |  | — |  |  | 56,965 |
In-process research and development (1) | 500 |  |  | — |  |  | 500 |  |  | 500 |  |  | — |  |  | 500 |
Total intangibles, net | $ | 1,599,916 |  |  | $ | (511,269) |  |  | $ | 1,088,647 |  |  | $ | 1,414,891 |  |  | $ | (490,986) |  |  | $ | 923,905 |
Summary of Estimated Charges to Amortization Expense of Intangible Assets | Estimated charges to amortization expense of intangible assets for the remainder of 2024 and the next four years, is as follows (in thousands):
2024 |  | 2025 |  | 2026 |  | 2027 |  | 2028 |  |  |
$ | 52,776 |  |  | $ | 100,358 |  |  | $ | 94,060 |  |  | $ | 83,326 |  |  | $ | 81,194 |  |  |  |

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