| Schedule of Intangible assets |
Intangible assets, net as of June 28, 2025 consisted of the following (in thousands): | | | | | | | | | | | | | | | June 28, 2025 | | | Gross | | Foreign | | | | | | | | | Carrying | | Currency | | Accumulated | | Net | | | Amount | | Translation | | Amortization | | Amount | Trade names and trademarks | | $ | 148,100 | | $ | (234) | | $ | 39,483 | | $ | 108,383 | Patented technology | | | 16,126 | | | (4) | | | 11,039 | | | 5,083 | Technology | | | 13,000 | | | — | | | 3,107 | | | 9,893 | Pool designs | | | 13,628 | | | (116) | | | 4,377 | | | 9,135 | Franchise relationships | | | 1,187 | | | — | | | 1,187 | | | — | Dealer relationships | | | 238,551 | | | (1) | | | 88,774 | | | 149,776 | Order backlog | | | 2,020 | | | — | | | 1,985 | | | 35 | Non-competition agreements | | | 2,476 | | | — | | | 2,476 | | | — | | | $ | 435,088 | | $ | (355) | | $ | 152,428 | | $ | 282,305 |
The change in the carrying value of dealer relationships is driven by the acquisitions made in the two fiscal quarters of 2025. Intangible assets, net as of December 31, 2024 consisted of the following (in thousands): | | | | | | | | | | | | | | | December 31, 2024 | | | Gross | | Foreign | | | | | | | | | Carrying | | Currency | | Accumulated | | Net | | | Amount | | Translation | | Amortization | | Amount | Trade names and trademarks | | $ | 148,100 | | $ | (592) | | $ | 36,183 | | $ | 111,325 | Patented technology | | | 16,126 | | | (9) | | | 10,303 | | | 5,814 | Technology | | | 13,000 | | | — | | | 2,673 | | | 10,327 | Pool designs | | | 13,628 | | | (293) | | | 3,909 | | | 9,426 | Franchise relationships | | | 1,187 | | | — | | | 1,187 | | | — | Dealer relationships | | | 235,176 | | | (3) | | | 79,397 | | | 155,776 | Order backlog | | | 2,020 | | | — | | | 1,775 | | | 245 | Non-competition agreements | | | 2,476 | | | — | | | 2,476 | | | — | | | $ | 431,713 | | $ | (897) | | $ | 137,903 | | $ | 292,913 |
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| Schedule of estimated amortization expense related to definite-lived intangible assets |
The Company estimates that amortization expense related to definite-lived intangible assets will be as follows in each of the next five fiscal years and thereafter (in thousands): | | | | | | Estimated Future | | | Amortization | Fiscal Year Ending | | Expense | Remainder of fiscal year 2025 | | $ | 14,394 | 2026 | | | 28,719 | 2027 | | | 28,719 | 2028 | | | 27,760 | 2029 | | | 22,391 | Thereafter | | | 160,322 | | | $ | 282,305 |
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