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Goodwill and Other Intangibles

6 Months Ended

Jul. 01, 2017

Goodwill and Other Intangibles [Abstract]

4 Goodwill and Other Intangibles

The carrying amount of goodwill was $357 million and $352 million at July 1, 2017 and December 31, 2016, respectively. During the six months ended July 1, 2017, the effect of foreign currency translation increased goodwill by $5 million.

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

		July 1, 2017						December 31, 2016
						Weighted-						Weighted-
		Gross				Average		Gross				Average
		Carrying		Accumulated		Amortization		Carrying		Accumulated		Amortization
		Amount		Amortization		Period		Amount		Amortization		Period
Capitalized software		$	403,303	$	257,347	5	years	$	355,973	$	223,572	5	years
Purchased intangibles			167,123		133,565	11	years		162,180		127,045	11	years
Trademarks and IPR&D			13,781		-				13,544		-
Licenses			5,401		4,260	6	years		4,632		3,851	6	years
Patents and other
	intangibles		65,358		40,702	8	years		61,646		36,452	8	years

	Total	$	654,966	$	435,874	7	years	$	597,975	$	390,920	7	years

During the six months ended July 1, 2017, the effect of foreign currency translation increased the gross carrying value of intangible assets and accumulated amortization for intangible assets by $37 million and $24 million, respectively. Amortization expense for intangible assets was $12 million and $11 million for the three months ended July 1, 2017 and July 2, 2016, respectively. Amortization expense for intangible assets was $22 million for both the six months ended July 1, 2017 and July 2, 2016. Amortization expense for intangible assets is estimated to be approximately $43 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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