Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Apr. 02, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

Changes in the carrying value of goodwill by segment for the three months ended April 2, 2022 are as follows:

(in thousands)	Electronics		Transportation		Industrial		Total
Net book value of goodwill as of January 1, 2022
Gross goodwill as of January 1, 2022	$	660,245	$	228,555	$	86,232	$	975,032
Accumulated impairment losses as of January 1, 2022	—		(36,177)		(9,065)		(45,242)
Total	660,245		192,378		77,167		929,790
Changes during 2022:
Additions(a)	—		5,187		—		5,187
Currency translation	(6,746)		(1,610)		111		(8,245)
Net book value of goodwill as of April 2, 2022
Gross goodwill as of April 2, 2022	653,499		231,733		86,517		971,749
Accumulated impairment losses as of April 2, 2022	—		(35,778)		$	(9,239)	(45,017)
Total	$	653,499	$	195,955	$	77,278	$	926,732

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

Schedule of finite-lived intangible assets

The components of other intangible assets as of April 2, 2022 and January 1, 2022 are as follows:

	As of April 2, 2022
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	19,562	$	2,019	$	17,543
Patents, licenses and software	163,214		103,649		59,565
Distribution network	43,239		40,991		2,248
Customer relationships, trademarks, and tradenames	483,872		171,373		312,499
Total	$	709,887	$	318,032	$	391,855

	As of January 1, 2022
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	19,542	$	1,906	$	17,636
Patents, licenses and software	164,556		101,307		63,249
Distribution network	43,361		40,591		2,770
Customer relationships, trademarks, and tradenames	487,710		164,239		323,471
Total	$	715,169	$	308,043	$	407,126

Schedule of finite-lived intangible assets, future amortization expense

Estimated annual amortization expense related to intangible assets with definite lives as of April 2, 2022 is as follows:

(in thousands)	Amount
2022	$	49,911
2023	45,302
2024	41,899
2025	41,426
2026	32,955
2027 and thereafter	193,086
Total	$	404,579