Quarterly report pursuant to Section 13 or 15(d)

Acquired Intangible Assets and Goodwill (Tables)

v3.23.1
Acquired Intangible Assets and Goodwill (Tables)
 3 Months Ended
Apr. 01, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Indefinite-Lived Intangible Assets The carrying basis and accumulated amortization of recognized intangible assets at April 1, 2023 and December 31, 2022, are as follows:
April 1, December 31,
2023 2022
Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount
Intangible Assets
 Useful Life
Customer relationships
10-15 years
 $ 408,536  $ 132,753  $ 275,783  $ 408,246  $ 125,613  $ 282,633 
Tradenames and trademarks
 Indefinite 107,491  —  107,491  107,378  —  107,378 
Software development
10-15 years
 20,320  6,447  13,873  20,320  6,085  14,235 
Noncompete agreements
3-8 years
 395  266  129  394  255  139 
Backlog
< 1 year
 —  —  —  41,390  41,390  — 
$ 536,742  $ 139,466  $ 397,276  $ 577,728  $ 173,343  $ 404,385 
Schedule of Finite-Lived Intangible Assets The carrying basis and accumulated amortization of recognized intangible assets at April 1, 2023 and December 31, 2022, are as follows:
April 1, December 31,
2023 2022
Gross Carrying Amount Accumulated Amortization Net Amount Gross Carrying Amount Accumulated Amortization Net Amount
Intangible Assets
 Useful Life
Customer relationships
10-15 years
 $ 408,536  $ 132,753  $ 275,783  $ 408,246  $ 125,613  $ 282,633 
Tradenames and trademarks
 Indefinite 107,491  —  107,491  107,378  —  107,378 
Software development
10-15 years
 20,320  6,447  13,873  20,320  6,085  14,235 
Noncompete agreements
3-8 years
 395  266  129  394  255  139 
Backlog
< 1 year
 —  —  —  41,390  41,390  — 
$ 536,742  $ 139,466  $ 397,276  $ 577,728  $ 173,343  $ 404,385 
Schedule of Goodwill
The changes in the carrying amounts of goodwill for the period ended April 1, 2023 were as follows:
Balance as of December 31, 2022 $ 368,204 
Foreign Currency Translation Adjustment 159 
Balance as of April 1, 2023 $ 368,363