Long-Lived Assets

6 Months Ended

Jul. 03, 2022

Property, Plant and Equipment [Abstract]

Long-Lived Assets

Long-Lived Assets

Depreciation and Amortization Expense

We recognized depreciation expense in income from continuing operations of $11.4 million and $22.6 million in the three and six months ended July 3, 2022, respectively. We recognized depreciation expense in income from continuing operations of $10.7 million and $21.4 million in the three and six months ended July 4, 2021, respectively.

We recognized amortization expense in income from continuing operations of $10.2 million and $20.0 million in the three and six months ended July 3, 2022, respectively. We recognized amortization expense in income from continuing operations of $7.5 million and $15.9 million in the three and six months ended July 4, 2021, respectively.

Asset Impairment

During the six months ended July 4, 2021, we sold our oil and gas cable business in Brazil and recognized an impairment charge of $3.4 million. See Note 4.

Also during the six months ended July 4, 2021, we performed a recoverability test over certain held and used long-lived assets in our Industrial Automation Solutions segment. We determined that the carrying values of the assets were not recoverable and recognized a $3.6 million impairment charge to write them down to fair value. This impairment charge was excluded from Segment EBITDA of our Industrial Automation Solutions segment.