Goodwill and Other Intangible Assets (Tables)

6 Months Ended

Jun. 26, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

The amounts for goodwill and changes in the carrying value by segment for the six months ended June 26, 2021 are as follows:


(in thousands)	Electronics		Automotive		Industrial		Total
Net book value of goodwill as of December 26, 2020
Gross goodwill as of December 26, 2020	$	676,325	$	138,354	$	47,551	$	862,230
Accumulated impairment losses as of December 26, 2020	—		(36,423)		(8,995)		(45,418)
Total	676,325		101,931		38,556		816,812
Changes during 2021:
Additions(a)	—		—		40,442		40,442

Currency translation	(4,779)		(1,542)		137		(6,184)
Net book value of goodwill as of June 26, 2021
Gross goodwill as of June 26, 2021	671,546		136,699		88,130		896,375
Accumulated impairment losses as of June 26, 2021	—		(36,310)		(8,995)		(45,305)
Total	$	671,546	$	100,389	$	79,135	$	851,070

(a) The additions resulted from the acquisition of Hartland.

Schedule of finite-lived intangible assets

The components of other intangible assets as of June 26, 2021 and December 26, 2020 are as follows:


	As of June 26, 2021
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	10,392	$	2,177	$	8,215
Patents, licenses and software	143,717		97,977		45,740
Distribution network	43,762		39,941		3,821
Customer relationships, trademarks, and tradenames	401,722		151,727		249,995

Total	$	599,593	$	291,822	$	307,771


	As of December 26, 2020
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	10,280	$	2,007	$	8,273
Patents, licenses and software	137,210		92,868		44,342
Distribution network	43,910		38,980		4,930
Customer relationships, trademarks, and tradenames	372,064		137,722		234,342
Total	$	563,464	$	271,577	$	291,887

During the six months ended June 26, 2021, the Company recorded additions to intangible assets of $39.7 million, related to the Hartland acquisition, the components of which were as follows:


(in thousands)	Weighted Average Useful Life	Amount
Patents, licenses and software	9.2	$	7,559

Customer relationships, trademarks, and tradenames	13.7	32,101
Total		$	39,660

Schedule of finite-lived intangible assets, future amortization expense

Estimated annual amortization expense related to intangible assets with definite lives as of June 26, 2021 is as follows:


(in thousands)	Amount
2021	$	41,868
2022	40,877
2023	36,569
2024	33,135
2025	32,682
2026 and thereafter	143,802
Total	$	328,933