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Goodwill and Other Intangibles

9 Months Ended

Oct. 03, 2015

Goodwill and Other Intangibles [Abstract]

5 Goodwill and Other Intangibles

The carrying amount of goodwill was $352 million and $355 million at October 3, 2015 and December 31, 2014, respectively. During the nine months ended October 3, 2015, the Company's acquisition increased goodwill by $1 million (see Note 4) and the effect of foreign currency translation decreased goodwill by $4 million.

The Company's intangible assets included in the consolidated balance sheets are detailed as follows (in thousands):

		October 3, 2015						December 31, 2014
						Weighted-						Weighted-
		Gross				Average		Gross				Average
		Carrying		Accumulated		Amortization		Carrying		Accumulated		Amortization
		Amount		Amortization		Period		Amount		Amortization		Period
Capitalized software		$	335,517	$	202,468	7	years	$	334,280	$	196,477	7	years
Purchased intangibles			163,144		117,632	11	years		163,855		112,279	11	years
Trademarks and IPR&D			13,967		-				14,095		-
Licenses			5,499		3,995	6	years		5,371		3,634	6	years
Patents and other
	intangibles		61,773		32,999	8	years		56,513		29,353	8	years

	Total	$	579,900	$	357,094	8	years	$	574,114	$	341,743	8	years

During the nine months ended October 3, 2015, the Company acquired $4 million of purchased intangibles as a result of the acquisition of ElectroForce (see Note 4). During the nine months ended October 3, 2015, the effect of foreign currency translation decreased the gross carrying value of intangible assets and accumulated amortization for intangible assets by $31 million and $18 million, respectively. Amortization expense for intangible assets was $12 million for both the three months ended October 3, 2015 and September 27, 2014. Amortization expense for intangible assets was $34 million and $36 million for the nine months ended October 3, 2015 and September 27, 2014, respectively. Amortization expense for intangible assets is estimated to be approximately $44 million per year for each of the next five years.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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