Goodwill and Intangible Assets (Tables)
|
6 Months Ended |
Jul. 03, 2026 |
|---|
| Intangible Asset, Goodwill and Other [Abstract] |
|
| Summary of Changes in Goodwill |
The following table summarizes changes in goodwill during the six months ended July 3, 2026 (in thousands):
|
|
|
|
|
Amount |
|
Balance at beginning of the period |
$ |
647,348 |
|
Effect of foreign exchange rate changes |
|
(4,983 |
) |
Balance at end of the period |
$ |
642,365 |
|
|
| Goodwill by Reportable Segment |
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 |
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 |
|
|
| Amortization Expense of Intangible Assets |
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 |
|
|
| Estimated Amortization Expense |
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 |
|
|