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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill by segment for the six months ended June 29, 2019, are as follows:
(Amounts in millions) | Commercial & Industrial Group |  | Snap-on Tools Group |  | Repair Systems & Information Group |  | Total
Balance as of December 29, 2018 | $ | 286.2 |  |  | $ | 12.5 |  |  | $ | 603.5 |  |  | $ | 902.2 |
Currency translation | (2.0 | ) |  | — |  |  | (1.4 | ) |  | (3.4 | )
Acquisitions and related adjustments | 6.9 |  |  | — |  |  | 1.3 |  |  | 8.2 |
Balance as of June 29, 2019 | $ | 291.1 |  |  | $ | 12.5 |  |  | $ | 603.4 |  |  | $ | 907.0 |
Goodwill of $907.0 million as of June 29, 2019, includes $6.9 million, on a preliminary basis, from the acquisition of Power Hawk and $1.3 million from the acquisition of TMB. The goodwill from Power Hawk is included in the Commercial & Industrial Group and the goodwill from TMB is included in the Repair Systems and Information Group. The company anticipates completing the purchase accounting for the Power Hawk acquisition, including the potential identification and quantification of other intangible assets, in the second half of 2019. See Note 3 for additional information on acquisitions. Additional disclosures related to other intangible assets are as follows:
| June 29, 2019 |  | December 29, 2018
(Amounts in millions) | Gross Carrying Value |  | Accumulated Amortization |  | Gross Carrying Value |  | Accumulated Amortization
Amortized other intangible assets: |  |  |  |  |  |  |
Customer relationships | $ | 171.8 |  |  | $ | (112.4 | ) |  | $ | 172.2 |  |  | $ | (107.6 | )
Developed technology | 18.5 |  |  | (18.4 | ) |  | 18.5 |  |  | (18.3 | )
Internally developed software | 161.2 |  |  | (120.3 | ) |  | 156.6 |  |  | (116.6 | )
Patents | 36.5 |  |  | (23.4 | ) |  | 35.7 |  |  | (22.9 | )
Trademarks | 3.3 |  |  | (2.0 | ) |  | 3.2 |  |  | (2.0 | )
Other | 7.4 |  |  | (3.1 | ) |  | 7.3 |  |  | (2.9 | )
Total | 398.7 |  |  | (279.6 | ) |  | 393.5 |  |  | (270.3 | )
Non-amortized trademarks | 108.8 |  |  | — |  |  | 109.7 |  |  | — |
Total other intangible assets | $ | 507.5 |  |  | $ | (279.6 | ) |  | $ | 503.2 |  |  | $ | (270.3 | )
Snap-on completed its annual impairment testing of goodwill and other indefinite-lived intangible assets in the second quarter of 2019, the results of which did not result in any impairment. Significant and unanticipated changes in circumstances, such as declines in profitability and cash flow due to significant and long-term deterioration in macroeconomic, industry and market conditions, the loss of key customers, changes in technology or markets, significant changes in key personnel or litigation, a significant and sustained decrease in share price and/or other events, including effects from the sale or disposal of a reporting unit, could require a provision for impairment of goodwill and/or other intangible assets in a future period. As of June 29, 2019, the company had no accumulated impairment losses. The weighted-average amortization periods related to other intangible assets are as follows:
| In Years
Customer relationships | 15
Developed technology | 3
Internally developed software | 6
Patents | 7
Trademarks | 5
Other | 39
Snap-on is amortizing its customer relationships on both an accelerated and straight-line basis over a 15-year weighted-average life; the remaining intangibles are amortized on a straight-line basis. The weighted-average amortization period for all amortizable intangibles on a combined basis is 12 years. The company’s customer relationships generally have contractual terms of three to five years and are typically renewed without significant cost to the company. The weighted-average 15-year life for customer relationships is based on the company’s historical renewal experience. Intangible asset renewal costs are expensed as incurred. The aggregate amortization expense was $5.4 million and $10.8 million for the respective three and six months ended June 29, 2019, and $6.4 million and $13.0 million for the respective three and six months ended June 30, 2018. Based on current levels of amortizable intangible assets and estimated weighted-average useful lives, estimated annual amortization expense is expected to be $21.2 million in 2019, $18.3 million in 2020, $16.1 million in 2021, $13.3 million in 2022, $12.2 million in 2023, and $10.0 million in 2024.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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