| Summary of changes in goodwill |
A summary of changes in goodwill by segment for the years ended December 30, 2017 and December 31, 2016 is as follows:
|
|
|
Hydraulics
|
|
|
Electronics
|
|
|
Total
|
|
|
Balance as January 2, 2016
|
|
$
|
2,286
|
|
|
$
|
2,702
|
|
|
$
|
4,988
|
|
|
Acquisitions
|
|
|
—
|
|
|
|
98,667
|
|
|
|
98,667
|
|
|
Currency translation
|
|
|
(72
|
)
|
|
|
—
|
|
|
|
(72
|
)
|
|
Balance as December 31, 2016
|
|
$
|
2,214
|
|
|
$
|
101,369
|
|
|
$
|
103,583
|
|
|
Working capital adjustment
|
|
|
—
|
|
|
|
500
|
|
|
|
500
|
|
|
Measure period adjustment
|
|
|
—
|
|
|
|
4,504
|
|
|
|
4,504
|
|
|
Currency translation
|
|
|
282
|
|
|
|
—
|
|
|
|
282
|
|
|
Balance as December 30, 2017
|
|
$
|
2,496
|
|
|
$
|
106,373
|
|
|
$
|
108,869
|
|
|
| Schedule of intangible assets |
At December 30, 2017, and December 31, 2016, intangible assets consisted of the following:
|
|
|
|
|
December 30, 2017
|
|
|
December 31, 2016
|
|
|
|
|
Useful life (years)
|
|
Gross carrying
amount
|
|
|
Accumulated amortization
|
|
|
Net carrying
amount
|
|
|
Gross carrying
amount
|
|
|
Accumulated amortization
|
|
|
Net carrying
amount
|
|
|
Definite-lived intangibles:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Trade Name and Brands
|
|
1 - 20
|
|
$
|
30,774
|
|
|
$
|
(2,115
|
)
|
|
$
|
28,659
|
|
|
$
|
30,774
|
|
|
$
|
(541
|
)
|
|
$
|
30,233
|
|
|
Non-compete Agreements
|
|
2 - 5
|
|
|
950
|
|
|
|
(206
|
)
|
|
|
744
|
|
|
|
950
|
|
|
|
(16
|
)
|
|
|
934
|
|
|
Technology
|
|
7 - 10
|
|
|
18,435
|
|
|
|
(2,671
|
)
|
|
|
15,764
|
|
|
|
18,435
|
|
|
|
(620
|
)
|
|
|
17,815
|
|
|
Supply Agreement
|
|
10
|
|
|
21,000
|
|
|
|
(2,275
|
)
|
|
|
18,725
|
|
|
|
21,000
|
|
|
|
(175
|
)
|
|
|
20,825
|
|
|
Sales Order Backlog
|
|
1
|
|
|
620
|
|
|
|
(620
|
)
|
|
|
—
|
|
|
|
620
|
|
|
|
(347
|
)
|
|
|
273
|
|
|
Customer Relationships
|
|
15 - 20
|
|
|
39,751
|
|
|
|
(2,607
|
)
|
|
|
37,144
|
|
|
|
39,751
|
|
|
|
(614
|
)
|
|
|
39,137
|
|
|
Licensing Agreement
|
|
15
|
|
|
3,716
|
|
|
|
(621
|
)
|
|
|
3,095
|
|
|
|
3,727
|
|
|
|
(379
|
)
|
|
|
3,348
|
|
|
|
|
|
|
$
|
115,246
|
|
|
$
|
(11,115
|
)
|
|
$
|
104,131
|
|
|
$
|
115,257
|
|
|
$
|
(2,692
|
)
|
|
$
|
112,565
|
|
|
| Schedule of estimated amortization expense of intangible assets |
Total amortization expense for the years ended 2017, 2016 and 2015 was approximately $8,423, $1,545 and $385, respectively. Total estimated amortization expense for the years 2018 through 2022 is presented below.
|
Year:
|
|
|
|
|
|
2018
|
|
$
|
8,148
|
|
|
2019
|
|
|
8,148
|
|
|
2020
|
|
|
8,148
|
|
|
2021
|
|
|
8,113
|
|
|
2022
|
|
|
7,842
|
|
|
Total
|
|
$
|
40,399
|
|
|