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Goodwill

3 Months Ended

Apr. 01, 2023

Notes To Financial Statements [Abstract]

Changes in the carrying amount of goodwill for the three months ended April 1, 2023 are as follows (in thousands):


	Commercial Foodservice		Food Processing		Residential Kitchen		Total
Balance as of December 31, 2022	$	1,309,776	$	350,303	$	751,755	$	2,411,834
Goodwill acquired during the year	3,149		—		—		3,149
Measurement period adjustments to goodwill acquired in prior year	782		(248)		—		534
Exchange effect	2,180		2,734		8,736		13,650
Balance as of April 1, 2023	$	1,315,887	$	352,789	$	760,491	$	2,429,167

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.