| Summary of changes in goodwill |
A summary of changes in goodwill at April 1, 2017 is as follows:
|
|
|
Hydraulics
|
|
Electronics
|
|
Total
|
|
|
Balance at December 31, 2016
|
|
$
|
2,214
|
|
$
|
101,369
|
|
$
|
103,583
|
|
|
Working capital adjustment
|
|
|
-
|
|
|
500
|
|
|
500
|
|
|
Currency translation
|
|
|
122
|
|
|
-
|
|
|
122
|
|
|
Balance at April 1, 2017
|
|
$
|
2,336
|
|
$
|
101,869
|
|
$
|
104,205
|
|
|
| Schedule of intangible assets |
At April 1, 2017 and December 31, 2016, intangible assets consisted of the following:
|
|
|
April 1, 2017
|
|
|
December 31, 2016
|
|
|
|
|
Gross carrying
amount
|
|
|
Accumulated
amortization
|
|
|
Net carrying
amount
|
|
|
Gross carrying
amount
|
|
|
Accumulated
amortization
|
|
|
Net carrying
amount
|
|
|
Definite-lived intangibles:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Name and Brands
|
|
$
|
30,774
|
|
|
$
|
(935
|
)
|
|
$
|
29,839
|
|
|
$
|
30,774
|
|
|
$
|
(541
|
)
|
|
$
|
30,233
|
|
|
Non-compete Agreements
|
|
|
950
|
|
|
|
(63
|
)
|
|
|
887
|
|
|
|
950
|
|
|
|
(16
|
)
|
|
|
934
|
|
|
Technology
|
|
|
18,435
|
|
|
|
(1,132
|
)
|
|
|
17,303
|
|
|
|
18,435
|
|
|
|
(620
|
)
|
|
|
17,815
|
|
|
Supply Agreement
|
|
|
21,000
|
|
|
|
(700
|
)
|
|
|
20,300
|
|
|
|
21,000
|
|
|
|
(175
|
)
|
|
|
20,825
|
|
|
Sales Order Backlog
|
|
|
620
|
|
|
|
(620
|
)
|
|
|
-
|
|
|
|
620
|
|
|
|
(347
|
)
|
|
|
273
|
|
|
Customer Relationships
|
|
|
39,751
|
|
|
|
(1,112
|
)
|
|
|
38,639
|
|
|
|
39,751
|
|
|
|
(614
|
)
|
|
|
39,137
|
|
|
Licensing Agreement
|
|
|
3,727
|
|
|
|
(451
|
)
|
|
|
3,276
|
|
|
|
3,727
|
|
|
|
(379
|
)
|
|
|
3,348
|
|
|
|
|
$
|
115,257
|
|
|
$
|
(5,013
|
)
|
|
$
|
110,244
|
|
|
$
|
115,257
|
|
|
$
|
(2,692
|
)
|
|
$
|
112,565
|
|
|
| Schedule of estimated amortization expense of intangible assets |
Amortization expense of intangible assets for the three months ended April 1, 2017, and April 2, 2016 was approximately $2,310 and $187, respectively. Total estimated amortization expense of intangible assets for the years 2018 through 2022 is presented below. The remaining amortization for 2017 is approximately $6,112.
|
Year:
|
|
|
|
|
|
2018
|
|
$
|
8,148
|
|
|
2019
|
|
|
8,148
|
|
|
2020
|
|
|
8,148
|
|
|
2021
|
|
|
8,117
|
|
|
2022
|
|
|
7,839
|
|
|
Total
|
|
$
|
40,400
|
|
|