| Summary of changes in goodwill |
A summary of changes in goodwill at March 31, 2018, is as follows:
|
|
|
Hydraulics
|
|
|
Electronics
|
|
|
Total
|
|
|
Balance at December 30, 2017
|
|
$
|
2,496
|
|
|
$
|
106,373
|
|
|
$
|
108,869
|
|
|
Currency translation
|
|
|
11
|
|
|
|
—
|
|
|
|
11
|
|
|
Balance at March 31, 2018
|
|
$
|
2,507
|
|
|
$
|
106,373
|
|
|
$
|
108,880
|
|
|
| Schedule of intangible assets |
At March 31, 2018, and December 30, 2017, intangible assets consisted of the following:
|
|
|
March 31, 2018
|
|
|
December 30, 2017
|
|
|
|
|
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
|
|
|
$
|
(2,509
|
)
|
|
$
|
28,265
|
|
|
$
|
30,774
|
|
|
$
|
(2,115
|
)
|
|
$
|
28,659
|
|
|
Non-compete agreements
|
|
|
950
|
|
|
|
(253
|
)
|
|
|
697
|
|
|
|
950
|
|
|
|
(206
|
)
|
|
|
744
|
|
|
Technology
|
|
|
18,435
|
|
|
|
(3,185
|
)
|
|
|
15,250
|
|
|
|
18,435
|
|
|
|
(2,671
|
)
|
|
|
15,764
|
|
|
Supply agreement
|
|
|
21,000
|
|
|
|
(2,800
|
)
|
|
|
18,200
|
|
|
|
21,000
|
|
|
|
(2,275
|
)
|
|
|
18,725
|
|
|
Customer relationships
|
|
|
39,751
|
|
|
|
(3,116
|
)
|
|
|
36,635
|
|
|
|
39,751
|
|
|
|
(2,607
|
)
|
|
|
37,144
|
|
|
Licensing agreement
|
|
|
3,716
|
|
|
|
(681
|
)
|
|
|
3,035
|
|
|
|
3,716
|
|
|
|
(621
|
)
|
|
|
3,095
|
|
|
|
|
$
|
114,626
|
|
|
$
|
(12,544
|
)
|
|
$
|
102,082
|
|
|
$
|
114,626
|
|
|
$
|
(10,495
|
)
|
|
$
|
104,131
|
|
|
| Schedule of estimated amortization expense of intangible assets |
Amortization expense of intangible assets for the three months ended March 31, 2018, and April 1, 2017, was $2,049 and $2,310, respectively. The remaining amortization for 2018 is approximately $6,111. Total estimated amortization expense of intangible assets for the years 2019 through 2023 is presented below.
|
Year:
|
|
|
|
|
|
2019
|
|
$
|
8,148
|
|
|
2020
|
|
|
8,148
|
|
|
2021
|
|
|
8,113
|
|
|
2022
|
|
|
7,842
|
|
|
2023
|
|
|
7,750
|
|
|
Total
|
|
$
|
40,001
|
|
|