Goodwill and Intangible Assets (Tables)
|
3 Months Ended |
Apr. 03, 2026 |
|---|
| Goodwill and Intangible Assets Disclosure [Abstract] |
|
| Summary of Changes in Goodwill |
The following table summarizes changes in goodwill during the three months ended April 3, 2026 (in thousands):
|
|
|
|
|
Amount |
|
Balance at beginning of the period |
$ |
647,348 |
|
Effect of foreign exchange rate changes |
|
(3,969 |
) |
Balance at end of the period |
$ |
643,379 |
|
|
| Goodwill by Reportable Segment |
Goodwill by reportable segment as of April 3, 2026 was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Reportable Segment |
|
|
|
|
|
Automation Enabling Technologies |
|
|
Medical Solutions |
|
|
Total |
|
Goodwill |
$ |
445,984 |
|
|
$ |
348,624 |
|
|
$ |
794,608 |
|
Accumulated impairment of goodwill |
|
(119,507 |
) |
|
|
(31,722 |
) |
|
|
(151,229 |
) |
Total |
$ |
326,477 |
|
|
$ |
316,902 |
|
|
$ |
643,379 |
|
Goodwill by reportable segment as of December 31, 2025 was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Reportable Segment |
|
|
|
|
|
Automation Enabling Technologies |
|
|
Medical Solutions |
|
|
Total |
|
Goodwill |
$ |
447,313 |
|
|
$ |
351,264 |
|
|
$ |
798,577 |
|
Accumulated impairment of goodwill |
|
(119,507 |
) |
|
|
(31,722 |
) |
|
|
(151,229 |
) |
Total |
$ |
327,806 |
|
|
$ |
319,542 |
|
|
$ |
647,348 |
|
|
| Intangible Assets |
Intangible assets as of April 3, 2026 and December 31, 2025, respectively, are summarized as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
April 3, 2026 |
|
|
December 31, 2025 |
|
|
Gross Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
|
Gross Carrying
Amount |
|
|
Accumulated
Amortization |
|
|
Net Carrying
Amount |
|
Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Patents and developed technologies |
$ |
234,440 |
|
|
$ |
(183,440 |
) |
|
$ |
51,000 |
|
|
$ |
235,851 |
|
|
$ |
(180,798 |
) |
|
$ |
55,053 |
|
Customer relationships |
|
294,946 |
|
|
|
(195,209 |
) |
|
|
99,737 |
|
|
|
296,868 |
|
|
|
(191,037 |
) |
|
|
105,831 |
|
Trademarks and trade names |
|
25,095 |
|
|
|
(18,560 |
) |
|
|
6,535 |
|
|
|
25,261 |
|
|
|
(18,396 |
) |
|
|
6,865 |
|
Amortizable intangible assets |
|
554,481 |
|
|
|
(397,209 |
) |
|
|
157,272 |
|
|
|
557,980 |
|
|
|
(390,231 |
) |
|
|
167,749 |
|
Non-amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade names |
|
13,027 |
|
|
|
— |
|
|
|
13,027 |
|
|
|
13,027 |
|
|
|
— |
|
|
|
13,027 |
|
Total intangible assets |
$ |
567,508 |
|
|
$ |
(397,209 |
) |
|
$ |
170,299 |
|
|
$ |
571,007 |
|
|
$ |
(390,231 |
) |
|
$ |
180,776 |
|
|
| Amortization Expense of Intangible Assets |
Amortization expense was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
April 3, |
|
|
March 28, |
|
|
|
2026 |
|
|
2025 |
|
|
Amortization expense – cost of revenue |
$ |
3,759 |
|
|
$ |
3,561 |
|
|
Amortization expense – operating expenses |
|
5,774 |
|
|
|
5,554 |
|
|
Total amortization expense |
$ |
9,533 |
|
|
$ |
9,115 |
|
|
|
| Estimated Amortization Expense |
As of April 3, 2026, estimated amortization expense for each of the five succeeding years and thereafter was as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
Year Ending December 31, |
|
Cost of Revenue |
|
|
Operating
Expenses |
|
|
Total |
|
2026 (remainder of year) |
|
$ |
11,231 |
|
|
$ |
17,225 |
|
|
$ |
28,456 |
|
2027 |
|
|
12,064 |
|
|
|
19,132 |
|
|
|
31,196 |
|
2028 |
|
|
10,263 |
|
|
|
16,100 |
|
|
|
26,363 |
|
2029 |
|
|
7,398 |
|
|
|
12,527 |
|
|
|
19,925 |
|
2030 |
|
|
4,728 |
|
|
|
10,059 |
|
|
|
14,787 |
|
Thereafter |
|
|
5,316 |
|
|
|
31,229 |
|
|
|
36,545 |
|
Total |
|
$ |
51,000 |
|
|
$ |
106,272 |
|
|
$ |
157,272 |
|
|