Intangible assets classified as goodwill are not amortized. The goodwill established in connection with our acquisitions represents the estimated future economic benefits arising from the assets we acquired that did not qualify to be identified and recognized individually. The goodwill also includes the value of expected future cash flows from the acquisitions, expected synergies with our other affiliates and other unidentifiable intangible assets.

The Company performs an annual impairment test of its goodwill during the fourth quarter of each fiscal year, which coincides with the completion of its annual forecasting and refreshing of business outlook process.

The Company performed its annual impairment test in the fourth quarter of fiscal 2025 and concluded that no impairment charge was required. Any future adverse changes in expected operating results and/or unfavorable changes in other economic factors used to estimate fair values could result in a non-cash impairment in the future.

During the three months ended April 4, 2026, the Company reviewed qualitative factors to ascertain if a “triggering” event may have taken place that would indicate it is more likely than not that the fair value of the reporting unit is less than the carrying value and concluded that no triggering event had occurred. While we have concluded that a triggering event did not occur during the quarter ended April 4, 2026, the persistent macroeconomic headwinds could, in the future, require changes to assumptions utilized in the determination of the estimated fair values of the reporting units which could result in future goodwill impairment charges. Net sales and earnings growth rates could be negatively impacted by reductions or changes in demand for our products. The discount rate utilized in our valuation model could also be impacted by changes in the underlying interest rates and risk premiums included in the determination of the cost of capital.

The following table summarizes the changes in the Company’s recorded goodwill, where applicable, by reportable segments and the “All Others” category as of April 4, 2026 and October 4, 2025.

(1) Cumulative goodwill impairment as of October 4, 2025 was $54.4 million related All Others. As discussed in Note 1: Basis of Presentation, during the three months ended January 3, 2026, a certain product line from the APS segment was transferred to and reported within the “All Others” category. The goodwill associated with the impacted reporting unit within the APS segment had been fully impaired as of October 4, 2025; therefore, this transfer did not affect the goodwill ending balance by reportable segments as of April 4, 2026.

Intangible assets with determinable lives are amortized over their estimated useful lives. The Company’s intangible assets consist primarily of developed technology, customer relationships, in-process research and development, and trade and brand names.


		As of April 4, 2026						As of October 4, 2025
(dollar amounts in thousands)	Average estimated useful lives (in years)	Gross carrying amount		Accumulated amortization		Net amount		Gross carrying amount		Accumulated amortization		Net amount

Developed technology	7.0 to 8.0	$	37,461	$	(34,842)	$	2,619	$	37,461	$	(34,576)	$	2,885
Customer relationships	5.0 to 8.0	$	21,430	$	(20,121)	$	1,309	$	21,430	$	(19,988)	$	1,442
Trade and brand name	8.0	$	4,600	$	(4,600)	$	—	$	4,600	$	(4,600)	$	—
Other intangible assets	1.0 to 8.0	$	5,618	$	(5,021)	$	597	$	5,618	$	(4,804)	$	814
In-process research and development	N.A	$	459	$	—	$	459	$	459	$	—	$	459
Total		$	69,568	$	(64,584)	$	4,984	$	69,568	$	(63,968)	$	5,600