Quarterly report [Sections 13 or 15(d)]

Goodwill and Intangible Assets (Tables)

v3.25.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 27, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of changes in goodwill

A summary of changes in goodwill by segment for the nine months ended September 27, 2025, is as follows:

 

 

Hydraulics

 

 

Electronics

 

 

 

Total

 

Balance at December 28, 2024

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

319.0

 

 

$

211.8

 

 

 

$

530.8

 

Accumulated Impairment losses

 

 

(31.9

)

 

 

—

 

 

 

 

(31.9

)

Goodwill, net of Accumulated Impairment losses

 

 

287.1

 

 

 

211.8

 

 

—

 

 

498.9

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill Impairment losses

 

 

—

 

 

 

(25.9

)

 

 

 

(25.9

)

Goodwill written off related to sale of business

 

 

(5.6

)

 

 

—

 

 

 

 

(5.6

)

Currency translation

 

 

30.1

 

 

 

0.1

 

 

 

 

30.2

 

Balance at September 27, 2025

 

$

311.6

 

 

$

186.0

 

 

 

$

497.6

 
Schedule of intangible assets

At September 27, 2025, and December 28, 2024, acquired intangible assets consisted of the following:

 

 

 

September 27, 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

 

$

97.5

 

 

$

(34.9

)

 

$

62.6

 

 

$

94.1

 

 

$

(28.6

)

 

$

65.5

 

Non-compete agreements

 

 

2.0

 

 

 

(2.0

)

 

 

—

 

 

 

2.0

 

 

 

(1.6

)

 

 

0.4

 

Technology

 

 

55.5

 

 

 

(36.4

)

 

 

19.1

 

 

 

53.4

 

 

 

(31.3

)

 

 

22.1

 

Supply agreement

 

 

21.0

 

 

 

(18.5

)

 

 

2.6

 

 

 

21.0

 

 

 

(17.0

)

 

 

4.0

 

Customer relationships

 

 

403.4

 

 

 

(110.4

)

 

 

293.0

 

 

 

380.1

 

 

 

(89.6

)

 

 

290.5

 

Workforce

 

 

6.1

 

 

 

(6.1

)

 

 

—

 

 

 

6.2

 

 

 

(4.7

)

 

 

1.5

 

 

 

$

585.5

 

 

$

(208.2

)

 

$

377.3

 

 

$

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

 

$

7.7

 

2026

 

 

30.4

 

2027

 

 

27.4

 

2028

 

 

27.1

 

2029

 

 

25.2

 

2030

 

 

24.4

 

Thereafter

 

 

235.1

 

Total

 

$

377.3