| Summary of changes in goodwill |
A summary of changes in goodwill at June 30, 2018, is as follows:
|
|
|
Hydraulics
|
|
|
Electronics
|
|
|
Total
|
|
|
Balance at December 30, 2017
|
|
$
|
2,496
|
|
|
$
|
106,373
|
|
|
$
|
108,869
|
|
|
Acquisition
|
|
|
248,913
|
|
|
|
—
|
|
|
|
248,913
|
|
|
Currency translation
|
|
|
(11,785
|
)
|
|
|
—
|
|
|
|
(11,785
|
)
|
|
Balance at June 30, 2018
|
|
$
|
239,624
|
|
|
$
|
106,373
|
|
|
$
|
345,997
|
|
|
| Schedule of intangible assets |
At June 30, 2018, and December 30, 2017, intangible assets consisted of the following:
|
|
|
June 30, 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
|
|
$
|
55,285
|
|
|
$
|
(3,213
|
)
|
|
$
|
52,072
|
|
|
$
|
30,774
|
|
|
$
|
(2,115
|
)
|
|
$
|
28,659
|
|
|
Non-compete agreements
|
|
|
950
|
|
|
|
(301
|
)
|
|
|
649
|
|
|
|
950
|
|
|
|
(206
|
)
|
|
|
744
|
|
|
Technology
|
|
|
31,217
|
|
|
|
(3,890
|
)
|
|
|
27,327
|
|
|
|
18,435
|
|
|
|
(2,671
|
)
|
|
|
15,764
|
|
|
Supply agreement
|
|
|
21,000
|
|
|
|
(3,325
|
)
|
|
|
17,675
|
|
|
|
21,000
|
|
|
|
(2,275
|
)
|
|
|
18,725
|
|
|
Sales order backlog
|
|
|
5,840
|
|
|
|
(3,553
|
)
|
|
|
2,287
|
|
|
|
—
|
|
|
|
—
|
|
|
|
—
|
|
|
Customer relationships
|
|
|
231,313
|
|
|
|
(5,377
|
)
|
|
|
225,936
|
|
|
|
39,751
|
|
|
|
(2,607
|
)
|
|
|
37,144
|
|
|
Licensing agreement
|
|
|
3,716
|
|
|
|
(741
|
)
|
|
|
2,975
|
|
|
|
3,716
|
|
|
|
(621
|
)
|
|
|
3,095
|
|
|
|
|
$
|
349,321
|
|
|
$
|
(20,400
|
)
|
|
$
|
328,921
|
|
|
$
|
114,626
|
|
|
$
|
(10,495
|
)
|
|
$
|
104,131
|
|
|
| Schedule of estimated amortization expense of intangible assets |
Amortization expense of intangible assets for the six months ended June 30, 2018, and July 1, 2017, was $10,124 and $4,348, respectively. The remaining amortization for 2018 is approximately $11,334. Total estimated amortization expense of intangible assets for the years 2019 through 2023 is presented below.
|
Year:
|
|
|
|
|
|
2019
|
|
$
|
17,913
|
|
|
2020
|
|
|
17,880
|
|
|
2021
|
|
|
17,779
|
|
|
2022
|
|
|
17,516
|
|
|
2023
|
|
|
17,457
|
|
|
Total
|
|
$
|
88,545
|
|
|