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Goodwill & Intangibles | 3 Months Ended
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Mar. 28, 2021
Goodwill & Intangibles |
Goodwill & Intangibles | 4. Goodwill & Intangibles ​ The Company operates in three geographic segments: Americas, Europe, and APMEA. The changes in the carrying amount of goodwill by geographic segment are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 28, 2021
​ | ​ | Gross Balance | ​ | Accumulated Impairment Losses | ​ | Net Goodwill
​ | ​ | ​ | ​ | Acquired | ​ | Foreign | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance | ​ | During | ​ | Currency | ​ | Balance | ​ | Balance | ​ | Impairment | ​ | Balance | ​ | ​
​ | ​ | January 1, | ​ | the | ​ | Translation | ​ | March 28, | ​ | January 1, | ​ | Loss During | ​ | March 28, | ​ | March 28,
​ |  | 2021 |  | Period |  | and Other |  | 2021 |  | 2021 |  | the Period |  | 2021 |  | 2021
​ | ​ | (in millions)
Americas | ​ | $ | 482.5 | ​ | ​ | — | ​ | $ | 0.1 | ​ | $ | 482.6 | ​ | $ | (24.5) | ​ | ​ | — | ​ | $ | (24.5) | ​ | $ | 458.1
Europe | ​ |  | 252.1 | ​ |  | — | ​ |  | (4.6) | ​ |  | 247.5 | ​ |  | (129.7) | ​ |  | — | ​ |  | (129.7) | ​ |  | 117.8
APMEA | ​ |  | 34.9 | ​ |  | — | ​ |  | (0.6) | ​ |  | 34.3 | ​ |  | (12.9) | ​ |  | — | ​ |  | (12.9) | ​ |  | 21.4
Total | ​ | $ | 769.5 | ​ | ​ | — | ​ | $ | (5.1) | ​ | $ | 764.4 | ​ | $ | (167.1) | ​ | ​ | — | ​ | $ | (167.1) | ​ | $ | 597.3
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020
​ | ​ | Gross Balance | ​ | Accumulated Impairment Losses | ​ | Net Goodwill
​ | ​ | ​ | ​ | Acquired | ​ | Foreign | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Balance | ​ | During | ​ | Currency | ​ | Balance | ​ | Balance | ​ | Impairment | ​ | Balance | ​ | ​
​ | ​ | January 1, | ​ | the | ​ | Translation | ​ | December 31, | ​ | January 1, | ​ | Loss During | ​ | December 31, | ​ | December 31,
​ |  | 2020 |  | Period |  | and Other |  | 2020 |  | 2020 |  | the Period |  | 2020 |  | 2020
​ | ​ | (in millions)
Americas | ​ | $ | 476.8 | ​ | $ | 5.5 | ​ | $ | 0.2 | ​ | $ | 482.5 | ​ | $ | (24.5) | ​ | $ | — | ​ | $ | (24.5) | ​ | $ | 458.0
Europe | ​ |  | 241.4 | ​ |  | — | ​ |  | 10.7 | ​ |  | 252.1 | ​ |  | (129.7) | ​ |  | — | ​ |  | (129.7) | ​ |  | 122.4
APMEA | ​ |  | 30.0 | ​ |  | 3.9 | ​ |  | 1.0 | ​ |  | 34.9 | ​ |  | (12.9) | ​ |  | — | ​ |  | (12.9) | ​ |  | 22.0
Total | ​ | $ | 748.2 | ​ | $ | 9.4 | ​ | $ | 11.9 | ​ | $ | 769.5 | ​ | $ | (167.1) | ​ | $ | — | ​ | $ | (167.1) | ​ | $ | 602.4
​ Goodwill and indefinite-lived intangible assets are tested for impairment at least annually or more frequently if events or circumstances indicate that it is “more likely than not” that they might be impaired, such as from a change in business conditions. The Company performs its annual goodwill and indefinite-lived intangible assets impairment assessment in the fourth quarter of each year. At the most recent annual impairment test which occurred in the fourth quarter of 2020, the Company performed qualitative fair value assessments, including an evaluation of certain key assumptions for all seven of its reporting units. The Company concluded that the fair value of all seven reporting units exceed its carrying value at that time. ​ Intangible assets include the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 28, 2021 | ​ | December 31, 2020
​ | ​ | Gross | ​ | ​ | ​ | ​ | Net | ​ | Gross | ​ | ​ | ​ | ​ | Net
​ | ​ | Carrying | ​ | Accumulated | ​ | Carrying | ​ | Carrying | ​ | Accumulated | ​ | Carrying
​ |  | Amount |  | Amortization |  | Amount |  | Amount |  | Amortization |  | Amount
​ | ​ | (in millions)
Patents | ​ | $ | 16.1 | ​ | $ | (16.0) | ​ | $ | 0.1 | ​ | $ | 16.1 | ​ | $ | (16.0) | ​ | $ | 0.1
Customer relationships | ​ |  | 235.9 | ​ |  | (168.0) | ​ |  | 67.9 | ​ |  | 236.2 | ​ |  | (165.8) | ​ |  | 70.4
Technology | ​ |  | 58.0 | ​ |  | (37.5) | ​ |  | 20.5 | ​ |  | 58.0 | ​ |  | (36.4) | ​ |  | 21.6
Trade names | ​ |  | 26.9 | ​ |  | (15.6) | ​ |  | 11.3 | ​ |  | 27.0 | ​ |  | (15.1) | ​ |  | 11.9
Other | ​ |  | 4.3 | ​ |  | (3.7) | ​ |  | 0.6 | ​ |  | 4.3 | ​ |  | (3.7) | ​ |  | 0.6
Total amortizable intangibles | ​ |  | 341.2 | ​ |  | (240.8) | ​ |  | 100.4 | ​ |  | 341.6 | ​ |  | (237.0) | ​ |  | 104.6
Indefinite-lived intangible assets | ​ |  | 36.6 | ​ |  | — | ​ |  | 36.6 | ​ |  | 37.2 | ​ |  | — | ​ |  | 37.2
​ | ​ | $ | 377.8 | ​ | $ | (240.8) | ​ | $ | 137.0 | ​ | $ | 378.8 | ​ | $ | (237.0) | ​ | $ | 141.8
​ Aggregate amortization expense for amortized intangible assets for the first quarters ended March 28, 2021 and March 29, 2020 was $3.8 million.

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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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