| Goodwill and Intangible Assets |
Goodwill and Intangible Assets The changes in the carrying value of goodwill were as follows (in thousands): | | | | | | | | | | Balance as of December 31, 2024 | | $ | 384,937 | | | Foreign exchange rate changes | | 12,452 | | | Balance as of June 29, 2025 | | $ | 397,389 | |
Amortized intangible assets as of June 29, 2025 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | Gross
Carrying
Value | | Accumulated
Amortization | | Net
Carrying
Value | | | | | | | | Customer relationships | $ | 72,881 | | | $ | (13,151) | | | $ | 59,730 | | | Completed technologies | 60,916 | | | (28,904) | | | 32,012 | | | Trademarks | 883 | | | (515) | | | 368 | | | Non-compete agreements | 340 | | | (315) | | | 25 | | | Balance as of June 29, 2025 | $ | 135,020 | | | $ | (42,885) | | | $ | 92,135 | |
Amortized intangible assets as of December 31, 2024 consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | Gross
Carrying
Value | | Accumulated
Amortization | | Net
Carrying
Value | | | | | | | | Customer relationships | $ | 67,781 | | | $ | (10,229) | | | $ | 57,552 | | | Completed technologies | 58,373 | | | (25,766) | | | 32,607 | | | Trademarks | 810 | | | (337) | | | 473 | | | Non-compete agreements | 340 | | | (288) | | | 52 | | | Balance as of December 31, 2024 | $ | 127,304 | | | $ | (36,620) | | | $ | 90,684 | |
Future amortization expense related to intangible assets as of June 29, 2025 is as follows (in thousands): | | | | | | | | | | | Amount | Remainder of fiscal 2025 | | $ | 5,338 | | | 2026 | | 10,415 | | | 2027 | | 9,473 | | | 2028 | | 8,743 | | | 2029 | | 8,743 | | | 2030 | | 8,200 | | | Thereafter | | 41,223 | | | | $ | 92,135 | |
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