Goodwill and Intangible Assets
 6 Months Ended
Jul. 01, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets
GOODWILL AND INTANGIBLE ASSETS
As of July 1, 2022 and December 31, 2021 the carrying amount of goodwill was $321.7 million.
The Company tests goodwill for impairment on the first day of the Company's fourth fiscal quarter each year, or more frequently should circumstances change or events occur that would more likely than not reduce the fair value of a reporting unit below its carrying amount.
Identifiable intangible assets consist of the following:
July 1, 2022December 31, 2021
(In thousands)Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Contract backlogs and recompetes$77,300 $(18,568)$58,732 $77,300 $(14,988)$62,312 
Customer contracts7,200 (4,293)2,907 7,200 (3,572)3,628 
Trade names and other1,249 (729)520 1,249 (607)642 
Balance$85,749 $(23,590)$62,159 $85,749 $(19,167)$66,582 
Identifiable intangible asset amortization expense was $2.1 million and $4.4 million for the three and six months ended July 1, 2022, respectively. Intangible asset amortization for the three and six months ended July 2, 2021 was $2.4 million and $4.9 million, respectively. As of July 1, 2022, the remaining average intangible asset amortization period was 9.0 years.
Future estimated amortization expense is as follows (in thousands):
PeriodAmortization
2022 (remainder of the year) $4,244 
2023$8,486 
2024$7,379 
2025$6,582 
2026$6,112 
After 2026$29,356