Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangible Assets

v2.4.0.8
Goodwill and Intangible Assets
9 Months Ended
Sep. 27, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS
A summary of changes in goodwill at September 27, 2014 is as follows:
Balance, December 28, 2013
$
5,221

Acquisitions

Currency translation
21

Balance, September 27, 2014
$
5,242



Valuation models reflecting the expected future cash flow projections are used to value reporting units. A valuation of the reporting unit at December 28, 2013, indicated that there was no impairment of the carrying value of the goodwill at Sun Korea. A valuation of the reporting unit at September 27, 2014 indicated that there was no impairment of the carrying value of the goodwill at HCT. As of September 27, 2014, no factors were identified that indicated impairment of the carrying value of goodwill.

The Company recognized $2,658 and $746 in identifiable intangible assets as a result of the acquisitions of HCT and WhiteOak, respectively. Intangible assets are held in other assets on the balance sheet. At September 27, 2014, and December 28, 2013, intangible assets consisted of the following: 
 
September 27, 2014

December 28, 2013
 
Gross  carrying
amount
 
Accumulated
amortization
 
Net carrying
amount
 
Gross  carrying
amount
 
Accumulated
amortization
 
Net carrying
amount
Definite-lived intangibles:











Trade Name
$
774


$
(245
)

$
529


$
774


$
(184
)

$
590

Non-compete agreement
11


(8
)

3


11


(4
)

7

Technology
868


(194
)

674


868


(130
)

738

Customer Relationships
1,751


(249
)

1,502


1,751


(179
)

1,572


$
3,404


$
(696
)

$
2,708


$
3,404


$
(497
)

$
2,907


Total estimated amortization expense for the years 2015 through 2019 is presented below. The remaining amortization for 2014 is approximately $65.
Year:

2015
256

2016
255

2017
255

2018
255

2019
255

Total
$
1,276


Intangible assets are evaluated for impairment whenever events or circumstances indicate that the undiscounted net cash flows to be generated by their use over their expected useful lives and eventual disposition may be less than their net carrying value. No such events or circumstances occurred during the nine months ended September 27, 2014.