Goodwill and Intangible Assets

3 Months Ended

Apr. 01, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill

The following table sets forth the changes in the carrying amount of goodwill by reportable segment:

	Aperture Solutions		Surface Solutions		Shelter Solutions		Total
Balance, December 31, 2022 (Successor)	$	624,009	$	790,452	$	274,087	$	1,688,548
Measurement period adjustments(1)	1,254		—		—		1,254
Currency translation	427		320		—		747
Balance, April 1, 2023 (Successor)	$	625,690	$	790,772	$	274,087	$	1,690,549

(1)     Measurement period adjustments have been recorded as the Company has obtained additional information since the preliminary purchase price allocation of the assets and liabilities acquired in connection with the Merger.

Intangible Assets, Net

The following table sets forth the major components of intangible assets:

	Range of Life (Years)		Weighted Average Amortization Period (Years)	Cost		Accumulated Amortization		Net Carrying Value
As of April 1, 2023(1) (Successor)
Amortized intangible assets:
Trademarks, trade names and other		13	13	$	522,137	$	(27,894)	$	494,243
Customer lists and relationships		13	13	2,088,548		(111,575)		1,976,973
Total intangible assets				$	2,610,685	$	(139,469)	$	2,471,216
As of December 31, 2022(1) (Successor)
Amortized intangible assets:
Trademarks, trade names and other		13	13	$	522,137	$	(18,332)	$	503,805
Customer lists and relationships		13	13	2,088,548		(73,330)		2,015,218
Total intangible assets				$	2,610,685	$	(91,662)	$	2,519,023

(1)     In connection with the Merger, the Company recorded a provisional intangible asset fair value. The fair value is based on preliminary information and subject to revision during the measurement period.

Intangible assets are amortized on a straight-line basis. Amortization expense related to intangible assets was $47.9 million for the three months ended April 1, 2023 and $49.0 million for the three months ended April 2, 2022.