Goodwill

6 Months Ended

Jul. 02, 2022

Notes To Financial Statements [Abstract]

Goodwill

Goodwill

Changes in the carrying amount of goodwill for the six months ended July 2, 2022 are as follows (in thousands):

	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Balance as of January 1, 2022	$	1,285,087	$	250,715	$	707,667	$	2,243,469
Goodwill acquired during the year	5,986		9,966		3,062		19,014
Measurement period adjustments to goodwill acquired in prior year	935		—		18,521		19,456
Exchange effect	(17,834)		(5,313)		(37,672)		(60,819)
Balance as of July 2, 2022	$	1,274,174	$	255,368	$	691,578	$	2,221,120

The annual impairment assessment for goodwill and indefinite-lived intangible assets is performed as of the first day of the fourth quarter and since that assessment the company does not believe there are any indicators of impairment requiring subsequent analysis. This is supported by the review of order rates, backlog levels and financial performance across business segments.