Goodwill and Intangible Assets (Tables)

9 Months Ended

Oct. 01, 2021

The following table summarizes changes in goodwill during the nine months ended October 1, 2021 (in thousands):

Balance at beginning of the period	$	285,980
Goodwill acquired from acquisitions		213,915
Effect of foreign exchange rate changes		(6,955	)
Balance at end of the period	$	492,940

Goodwill by reportable segment as of October 1, 2021 was as follows (in thousands):

	Reportable Segment
	Photonics			Vision			Precision Motion			Total
Goodwill	$	215,453		$	161,885		$	266,831		$	644,169
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	112,992		$	130,163		$	249,785		$	492,940

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 as of October 1, 2021 and December 31, 2020, respectively, are summarized as follows (in thousands):

	October 1, 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	$	190,485	$	(118,535	)	$	71,950	$	164,430	$	(110,572	)	$	53,858
Customer relationships		229,369		(101,546	)		127,823		167,429		(92,892	)		74,537
Customer backlog		6,753		(563	)		6,190		—		—			—
Trademarks and trade names		24,052		(12,015	)		12,037		18,367		(11,268	)		7,099
Amortizable intangible assets		450,659		(232,659	)		218,000		350,226		(214,732	)		135,494
Non-amortizable intangible assets:
Trade names		13,027		—			13,027		13,027		—			13,027
Totals	$	463,686	$	(232,659	)	$	231,027	$	363,253	$	(214,732	)	$	148,521

Amortization expense was as follows (in thousands):

	Three Months Ended				Nine Months Ended
	October 1,		October 2,		October 1,		October 2,
	2021		2020		2021		2020
Amortization expense – cost of revenue	$	3,316	$	2,820	$	9,275	$	8,270
Amortization expense – operating expenses		4,139		3,533		11,300		10,388
Total amortization expense	$	7,455	$	6,353	$	20,575	$	18,658

Estimated amortization expense for each of the five succeeding years and thereafter as of October 1, 2021 was as follows (in thousands):