Goodwill is recorded when the consideration paid for a business combination exceeds the fair value of net tangible and identifiable intangible assets acquired. The Company tests its goodwill balances for impairment annually as of the beginning of the second quarter or more frequently if indicators are present or changes in circumstances suggest that an impairment may exist. The Company performed the most recent annual goodwill and indefinite-lived intangible asset impairment test as of the beginning of the second quarter of 2026 and noted no impairment.

Goodwill by reportable segment as of July 3, 2026 was as follows (in thousands):


	Reportable Segment
	Automation Enabling Technologies			Medical Solutions			Total
Goodwill	$	445,693		$	347,901		$	793,594
Accumulated impairment of goodwill		(119,507	)		(31,722	)		(151,229	)
Total	$	326,186		$	316,179		$	642,365

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 as of July 3, 2026 and December 31, 2025, respectively, are summarized as follows (in thousands):


	July 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	$	234,169	$	(187,018	)	$	47,151	$	235,851	$	(180,798	)	$	55,053
Customer relationships		294,570		(200,516	)		94,054		296,868		(191,037	)		105,831
Trademarks and trade names		38,116		(19,490	)		18,626		25,261		(18,396	)		6,865
Amortizable intangible assets		566,855		(407,024	)		159,831		557,980		(390,231	)		167,749
Non-amortizable intangible assets:
Trade names		—		—			—		13,027		—			13,027
Total intangible assets	$	566,855	$	(407,024	)	$	159,831	$	571,007	$	(390,231	)	$	180,776

All definite-lived intangible assets are amortized either on a straight-line basis or an economic benefit basis over their remaining estimated useful life. Amortization expense for patents and developed technologies is included in cost of revenue in the accompanying consolidated statements of operations. Amortization expense for customer relationships and definite-lived trademarks, trade names and other intangibles is included in operating expenses in the accompanying consolidated statements of operations.

During the second quarter of 2026, the Company reassessed the useful lives of certain trade names in connection with its enterprise-wide branding initiative. As a result, the Company concluded that the indefinite-lived trade names no longer met the criteria for indefinite-lived intangible asset classification. These trade names were reclassified to definite-lived intangible assets and are being amortized over the estimated remaining useful lives of five years or less on a straight-line basis. Prior to reclassification, the Company performed a quantitative valuation and determined that the fair values of the trade names exceeded their carrying values; therefore, no impairment charge was recorded.

Amortization expense was as follows (in thousands):


	Three Months Ended				Six Months Ended
	July 3,		June 27,		July 3,		June 27,
	2026		2025		2026		2025
Amortization expense – cost of revenue	$	3,755	$	4,220	$	7,514	$	7,781
Amortization expense – operating expenses		6,415		6,871		12,189		12,425
Total amortization expense	$	10,170	$	11,091	$	19,703	$	20,206

As of July 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)	$	7,476	$	12,762	$	20,238
2027		12,045		21,691		33,736
2028		10,245		18,660		28,905
2029		7,382		15,101		22,483
2030		4,713		12,640		17,353
Thereafter		5,290		31,826		37,116
Total	$	47,151	$	112,680	$	159,831