Quarterly report pursuant to Section 13 or 15(d)

Acquired Intangible Assets and Goodwill (Tables)

v3.23.2
Acquired Intangible Assets and Goodwill (Tables)
 6 Months Ended
Jul. 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 July 1, 2023 and December 31, 2022, are as follows:
July 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
 $ 408,853  $ 139,910  $ 268,943  $ 408,246  $ 125,613  $ 282,633 
Tradenames and trademarks
 Indefinite 107,613  —  107,613  107,378  —  107,378 
Software development
10-15 years
 20,320  6,808  13,512  20,320  6,085  14,235 
Noncompete agreements
3-8 years
 396  278  118  394  255  139 
Backlog
< 1 year
 —  —  —  41,390  41,390  — 
$ 537,182  $ 146,996  $ 390,186  $ 577,728  $ 173,343  $ 404,385 
Schedule of Finite-Lived Intangible Assets The carrying basis and accumulated amortization of recognized intangible assets at July 1, 2023 and December 31, 2022, are as follows:
July 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
 $ 408,853  $ 139,910  $ 268,943  $ 408,246  $ 125,613  $ 282,633 
Tradenames and trademarks
 Indefinite 107,613  —  107,613  107,378  —  107,378 
Software development
10-15 years
 20,320  6,808  13,512  20,320  6,085  14,235 
Noncompete agreements
3-8 years
 396  278  118  394  255  139 
Backlog
< 1 year
 —  —  —  41,390  41,390  — 
$ 537,182  $ 146,996  $ 390,186  $ 577,728  $ 173,343  $ 404,385 
Schedule of Goodwill
The changes in the carrying amounts of goodwill for the period ended July 1, 2023 were as follows:
Balance as of December 31, 2022 $ 368,204 
Foreign Currency Translation Adjustment 319 
Balance as of July 1, 2023 $ 368,523