Quarterly report pursuant to Section 13 or 15(d)

Goodwill

v3.22.2
Goodwill
 6 Months Ended
Jul. 02, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill GoodwillThe following table summarizes the changes in the carrying amount of goodwill for the six months ended July 2, 2022:
(In thousands) December 31, 2021
Foreign
Currency
Translation
 July 2, 2022
Aerospace $ 36,648  $ (30) $ 36,618 
Test Systems 21,634  —  21,634 
$ 58,282  $ (30) $ 58,252 
The Company tests goodwill at the reporting unit level on an annual basis or more frequently if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount.
As of July 2, 2022 and July 3, 2021, the Company concluded that no indicators of impairment relating to intangible assets or goodwill existed and an interim test was not performed in the three or six months then ended.