Goodwill and Acquired Intangible Assets (Tables)
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9 Months Ended |
Sep. 27, 2026 |
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| Intangible Asset, Goodwill and Other [Abstract] |
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| Changes in Carrying Amount of Goodwill by Segment |
The changes in the carrying amount of goodwill by reportable segments for the nine months ended September 27, 2026, were as follows:
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Robotics |
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Semiconductor
Test |
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Product
Test |
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Total |
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(in thousands) |
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Balance at December 31, 2025 |
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Goodwill |
|
$ |
416,401 |
|
|
$ |
263,598 |
|
|
$ |
603,586 |
|
|
$ |
1,283,585 |
|
Accumulated impairment losses |
|
|
— |
|
|
|
(260,540 |
) |
|
|
(502,026 |
) |
|
|
(762,566 |
) |
Total Goodwill |
|
|
416,401 |
|
|
|
3,058 |
|
|
|
101,560 |
|
|
|
521,019 |
|
Acquisitions (1) |
|
|
— |
|
|
|
22,305 |
|
|
|
131,634 |
|
|
|
153,939 |
|
Foreign currency translation adjustment |
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|
(11,104 |
) |
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|
(78 |
) |
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|
— |
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|
|
(11,182 |
) |
Balance at September 27, 2026 |
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|
|
|
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Goodwill |
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$ |
405,297 |
|
|
$ |
285,825 |
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|
$ |
735,220 |
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|
$ |
1,426,342 |
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Accumulated impairment losses |
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|
— |
|
|
|
(260,540 |
) |
|
|
(502,026 |
) |
|
|
(762,566 |
) |
Total Goodwill |
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$ |
405,297 |
|
|
$ |
25,285 |
|
|
$ |
233,194 |
|
|
$ |
663,776 |
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(1)Goodwill increased due to acquisitions made in the nine months ended September 27, 2026, including the acquisition of a controlling interest in MLTP. See Note D: “Acquisitions” for more information.
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| Schedule of Amortizable Intangible Assets |
Amortizable intangible assets consist of the following and are included in intangible assets, net on the balance sheet:
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Gross
Carrying
Amount (1) |
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Accumulated
Amortization (1) |
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Foreign
Currency
Translation
Adjustment |
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|
Net
Carrying
Amount |
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(in thousands) |
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Balance at September 27, 2026 |
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|
|
|
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|
|
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|
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Developed technology |
|
$ |
269,110 |
|
|
$ |
(190,000 |
) |
|
$ |
— |
|
|
$ |
79,110 |
|
Customer relationships |
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|
54,064 |
|
|
|
(43,324 |
) |
|
|
— |
|
|
|
10,740 |
|
Tradenames and trademarks |
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|
39,157 |
|
|
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(31,194 |
) |
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|
(1,151 |
) |
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|
6,812 |
|
Total intangible assets |
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$ |
362,331 |
|
|
$ |
(264,518 |
) |
|
$ |
(1,151 |
) |
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$ |
96,662 |
|
Balance at December 31, 2025 |
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Developed technology |
|
$ |
250,025 |
|
|
$ |
(211,662 |
) |
|
$ |
60 |
|
|
$ |
38,423 |
|
Customer relationships |
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|
56,480 |
|
|
|
(51,953 |
) |
|
|
204 |
|
|
|
4,731 |
|
Tradenames and trademarks |
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|
40,487 |
|
|
|
(31,339 |
) |
|
|
(1,031 |
) |
|
|
8,117 |
|
Total intangible assets |
|
$ |
346,992 |
|
|
$ |
(294,954 |
) |
|
$ |
(767 |
) |
|
$ |
51,271 |
|
(1)In the nine months ended September 27, 2026, $42.6 million of amortizable intangible assets became fully amortized and have been eliminated from the gross carrying amount and accumulated amortization.
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| Schedule of Estimated Intangible Assets Amortization Expense |
Estimated intangible asset amortization expense for each of the five succeeding fiscal years and thereafter is as follows:
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Year |
|
Amortization
Expense |
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(in thousands) |
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2026 |
|
$ |
5,094 |
|
2027 |
|
|
19,585 |
|
2028 |
|
|
19,504 |
|
2029 |
|
|
18,189 |
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2030 |
|
|
9,642 |
|
Thereafter |
|
|
24,648 |
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