Goodwill and Intangible Assets (Tables)

3 Months Ended

Apr. 02, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Summary of Changes in Goodwill

The following table summarizes changes in goodwill during the three months ended April 2, 2021 (in thousands):

Balance at beginning of the period	$	285,980
Effect of foreign exchange rate changes		(4,366	)
Balance at end of the period	$	281,614

Goodwill by Reportable Segment

Goodwill by reportable segment as of April 2, 2021 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	216,908		$	162,634		$	53,301		$	432,843
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	114,447		$	130,912		$	36,255		$	281,614

Goodwill by reportable segment as of December 31, 2020 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	218,517		$	165,195		$	53,497		$	437,209
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	116,056		$	133,473		$	36,451		$	285,980

Intangible Assets

Intangible assets as of April 2, 2021 and December 31, 2020, respectively, are summarized as follows (in thousands):

	April 2, 2021							December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Amortizable intangible assets:
Patents and developed technologies	$	162,773	$	(112,979	)	$	49,794	$	164,430	$	(110,572	)	$	53,858
Customer relationships		165,528		(95,722	)		69,806		167,429		(92,892	)		74,537
Trademarks and trade names		18,239		(11,512	)		6,727		18,367		(11,268	)		7,099
Amortizable intangible assets		346,540		(220,213	)		126,327		350,226		(214,732	)		135,494
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Totals	$	359,567	$	(220,213	)	$	139,354	$	363,253	$	(214,732	)	$	148,521

Amortization Expense of Intangible Assets

Amortization expense was as follows (in thousands):

	Three Months Ended
	April 2,		April 3,
	2021		2020
Amortization expense – cost of revenue	$	2,977	$	2,734
Amortization expense – operating expenses		3,575		3,445
Total amortization expense	$	6,552	$	6,179

Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding years and thereafter as of April 2, 2021 was as follows (in thousands):

Year Ending December 31,	Cost of Revenue		Operating Expenses		Total
2021 (remainder of year)	$	8,809	$	10,602	$	19,411
2022		10,065		13,282		23,347
2023		8,848		11,547		20,395
2024		6,613		9,540		16,153
2025		5,175		7,934		13,109
Thereafter		10,284		23,628		33,912
Total	$	49,794	$	76,533	$	126,327