Acquisitions (Tables)

9 Months Ended

Oct. 01, 2023

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table summarizes the estimated, preliminary fair values of the assets acquired and liabilities assumed as of the acquisition date (in thousands):

Receivables	$	6,040
Inventory	13,113
Other current assets	816
Property, plant and equipment	13,247
Intangible assets	44,764
Goodwill	27,457
Other long-lived assets	4,922
Total assets acquired	$	110,359
Accounts payable	$	2,423
Accrued liabilities	2,015
Deferred income taxes	8,417
Total liabilities assumed	$	12,855
Net assets	$	97,504

Schedule of Acquired Intangible Assets

The intangible assets related to the acquisition consisted of the following:

	Fair Value		Amortization Period
	(In thousands)		(In years)
Intangible assets subject to amortization:
Customer relationships	$	41,597	20.0
Trademarks	2,184		7.0
Sales backlog	983		0.2
Total intangible assets subject to amortization	$	44,764
Intangible assets not subject to amortization:
Goodwill	$	27,457	n/a
Total intangible assets not subject to amortization	$	27,457
Total intangible assets	$	72,221
Weighted average amortization period			18.9