Quarterly report [Sections 13 or 15(d)]

Goodwill and Intangible Assets (Tables)

v3.25.1
Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 29, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of changes in goodwill

A summary of changes in goodwill by segment for the three months ended March 29, 2025, is as follows:

 

 

Hydraulics

 

 

Electronics

 

 

Total

 

Balance at December 28, 2024

 

$

287.1

 

 

$

211.8

 

 

$

498.9

 

Currency translation

 

 

9.5

 

 

 

—

 

 

 

9.5

 

Balance at March 29, 2025

 

$

296.6

 

 

$

211.8

 

 

$

508.4

 
Schedule of intangible assets

At March 29, 2025, and December 28, 2024, acquired intangible assets consisted of the following:

 

 

 

March 29, 2025

 

 

December 28, 2024

 

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

 

Gross Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Carrying
Amount

 

Definite-lived intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names and brands

 

$

95.2

 

 

$

(30.3

)

 

$

64.9

 

 

$

94.1

 

 

$

(28.6

)

 

$

65.5

 

Non-compete agreements

 

 

2.0

 

 

 

(1.7

)

 

 

0.3

 

 

 

2.0

 

 

 

(1.6

)

 

 

0.4

 

Technology

 

 

54.1

 

 

 

(33.0

)

 

 

21.1

 

 

 

53.4

 

 

 

(31.3

)

 

 

22.1

 

Supply agreement

 

 

21.0

 

 

 

(17.5

)

 

 

3.5

 

 

 

21.0

 

 

 

(17.0

)

 

 

4.0

 

Customer relationships

 

 

387.5

 

 

 

(95.9

)

 

 

291.6

 

 

 

380.1

 

 

 

(89.6

)

 

 

290.5

 

Workforce

 

 

6.1

 

 

 

(5.5

)

 

 

0.6

 

 

 

6.2

 

 

 

(4.7

)

 

 

1.5

 

 

 

$

565.9

 

 

$

(183.9

)

 

$

382.0

 

 

$

556.8

 

 

$

(172.8

)

 

$

384.0

 
Schedule of estimated amortization expense of intangible assets Future estimated total amortization expense is presented below.

Year:

 

 

 

2025 Remaining

 

$

23.6

 

2026

 

 

30.0

 

2027

 

 

26.9

 

2028

 

 

26.5

 

2029

 

 

24.4

 

2030

 

 

23.7

 

Thereafter

 

 

226.9

 

Total

 

$

382.0