Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

Changes in the carrying value of goodwill by segment for the three months ended March 30, 2024 are as follows:

(in thousands)	Electronics		Transportation		Industrial		Total
Net goodwill as of December 30, 2023
Gross goodwill as of December 30, 2023	$	936,505	$	237,115	$	179,117	$	1,352,737
Accumulated impairment losses as of December 30, 2023	—		(34,004)		(8,735)		(42,739)
Total	936,505		203,111		170,382		1,309,998
Changes during 2024:
Foreign currency translation adjustments	(13,103)		(2,003)		(155)		(15,261)
Net goodwill as of March 30, 2024
Gross goodwill as of March 30, 2024	923,402		234,620		178,761		1,336,783
Accumulated impairment losses as of March 30, 2024	—		(33,512)		$	(8,534)	(42,046)
Total	$	923,402	$	201,108	$	170,227	$	1,294,737

Schedule of Finite-Lived Intangible Assets

The components of other intangible assets as of March 30, 2024 and December 30, 2023 are as follows:

	As of March 30, 2024
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	17,298	$	2,864	$	14,434
Patents, licenses, and software	271,905		167,403		104,502
Distribution network	41,917		41,917		—
Customer relationships, trademarks, and tradenames	681,982		216,287		465,695
Total	$	1,013,102	$	428,471	$	584,631

	December 30, 2023
(in thousands)	Gross Carrying Value		Accumulated Amortization		Net Book Value
Land use rights	$	17,621	$	2,786	$	14,835
Patents, licenses, and software	275,337		163,799		111,538
Distribution network	43,210		43,210		—
Customer relationships, trademarks, and tradenames	689,244		209,481		479,763
Total	$	1,025,412	$	419,276	$	606,136

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

Estimated annual amortization expense related to intangible assets with definite lives as of March 30, 2024 is as follows:

(in thousands)	Amount
Remainder of 2024	$	47,167
2025	62,662
2026	51,823
2027	49,755
2028	49,135
2029 and thereafter	324,089
Total	$	584,631