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Goodwill And Other Intangible Assets
 9 Months Ended
Sep. 26, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill And Other Intangible Assets
5.
GOODWILL AND OTHER INTANGIBLE ASSETS
The following presents changes to goodwill for the period indicated:
 
     For the thirty-
nine weeks
ended
September 26,
2021		  
Balance at December 31, 2020
    $ 359,099  
Advance Engine Management acquisition
      17,426  
Classic Instruments acquisition
      4,912  
Measurement period adjustments*
      423  
  
 
 
  
Balance at September 26, 2021
    $ 381,860  
  
 
 
  
 
  *
See Note 2, “
Business Combination and Acquisitions - Simpson Performance Products, Inc. and Advance Engine Management Inc.
”
Goodwill represents the premium paid over the fair value of the net tangible and identifiable intangible assets acquired in the Company’s business combinations. The measurement period for the valuation of assets acquired and liabilities assumed ends as soon as information on the facts and circumstances that existed as of the acquisition date becomes available, not to exceed 12 months. Adjustments in purchase price allocations may require a change in the amounts allocated to goodwill during the periods in which the adjustments are determined.
Intangible assets consisted of the following:​​​​​​​
 
     September 26, 2021  
     Gross
Carrying
Amount		      Accumulated
Amortization		      Net
Carrying
Value		  
Finite-lived intangible assets:
         
Customer relationships
    $ 259,907      $ (29,878 )     $ 230,029  
Tradenames
      13,775        (3,906 )       9,869  
Technology
      26,673        (8,469 )       18,204  
  
 
 
     
 
 
     
 
 
  
Total finite-lived intangible assets
    $ 300,355      $ (42,253 )     $ 258,102  
Indefinite-lived intangible assets:
         
Tradenames
    $ 163,768        —        $ 163,768  
 
     December 31, 2020  
     Gross
Carrying
Amount		      Accumulated
Amortization		      Net
Carrying
Value		  
Finite-lived intangible assets:
         
Customer relationships
    $ 245,274      $ (21,819 )     $ 223,455  
Tradenames
      13,775        (3,369 )       10,406  
Technology
      24,595        (6,674 )       17,921  
  
 
 
     
 
 
     
 
 
  
Total finite-lived intangible assets
    $ 283,644      $ (31,862 )     $ 251,782  
Indefinite-lived intangible assets:
         
Tradenames
    $ 152,740        —        $ 152,740  
The following outlines the estimated future amortization expense related to intangible assets held as of September 26, 2021:
 
2021 (excluding the thirty-nine weeks ended September 26, 2021)
    $ 3,573  
2022
      14,202  
2023
      14,039  
2024
      13,226  
2025
      13,189  
Thereafter
      199,873  
  
 
 
  
Total
    $ 258,102