Goodwill and Other Intangibles

9 Months Ended

Sep. 27, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $1.3 billion at both September 27, 2025 and December 31, 2024.

The Company’s intangible assets included in the consolidated balance sheets are detailed as follows (dollars in thousands):


	September 27, 2025					December 31, 2024
	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period	Gross Carrying Amount		Accumulated Amortization		Weighted- Average Amortization Period
Capitalized software	$	779,863	$	609,403	5 years	$	662,085	$	508,339		5 years
Purchased intangibles		631,707		283,239	10 years		610,351		241,093		10 years
Trademarks		9,680		—			9,680		—
Licenses		15,561		11,354	7 years		14,549		9,628		7 years
Patents and other intangibles		133,464		95,506	8 years		117,781		87,480		8 years

Total	$	1,570,275	$	999,502	7 years	$	1,414,446	$	846,540		7 years

The Company capitalized intangible assets in the amounts of $17 million and $11 million in the three months ended September 27, 2025 and September 28, 2024, respectively, and $69 million and $31 million in the nine months ended September 27, 2025 and September 28, 2024, respectively.

The gross carrying value of intangible assets and accumulated amortization for intangible assets increased by $87 million and $66 million, respectively, in the nine months ended September 27, 2025 due to the effects of foreign currency translation.

Amortization expense for intangible assets was $30 million and $28 million for the three months ended September 27, 2025 and September 28, 2024, respectively. Amortization expense for intangible assets was $87 million and $79 million for the nine months ended September 27, 2025 and September 28, 2024, respectively. Amortization expense for intangible assets is estimated to be $119 million per year for each of the next five years.