Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

11)

Goodwill and Intangible Assets

Goodwill

The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:


	2015									2014
	Gross Carrying Amount			Accumulated Impairment Loss			Net			Gross Carrying Amount			Accumulated Impairment Loss			Net
Beginning balance at January 1	$	331,795		$	(139,414	)	$	192,381		$	290,323		$	(139,414	)	$	150,909
Acquired goodwill(1)		8,017			—			8,017			41,993			—			41,993
Foreign currency translation		(695	)		—			(695	)		(521	)		—			(521	)

Ending balance at December 31	$	339,117		$	(139,414	)	$	199,703		$	331,795		$	(139,414	)	$	192,381

(1)

During 2015, the Company recorded $7,042 of goodwill related to the acquisition of Precisive. During the second quarter of 2015, the Company recorded a purchase accounting adjustment of $975 primarily related to an inventory valuation adjustment related to the acquisition of GP. During 2014, the Company recorded $41,612 of goodwill related to the acquisition of GP and recorded a purchase accounting adjustment of $381 related to the 2013 purchase of Alter S.r.l.

Intangible Assets

The Company is required to test certain long-lived assets when indicators of impairment are present. For the purposes of the impairment test, long-lived assets are grouped with other assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. There were no intangible asset impairment charges in 2015, 2014 or 2013.

Components of the Company’s acquired intangible assets are comprised of the following:


As of December 31, 2015	Gross		Accumulated Amortization			Foreign Currency Translation			Net
Completed technology(1)	$	101,200	$	(82,330	)	$	(272	)	$	18,598
Customer relationships(1)		37,251		(16,345	)		10			20,916
Patents, trademarks, trade names and other(1)		30,396		(25,888	)		5			4,513

	$	168,847	$	(124,563	)	$	(257	)	$	44,027

(1)	During 2015, the Company recorded $5,110 of separately identified intangible assets related to the acquisition of Precisive, of which $820 was completed technology, $1,430 was customer relationships and $2,860 was patents, trademarks, trade names and other.


As of December 31, 2014	Gross		Accumulated Amortization			Foreign Currency Translation		Net
Completed technology(1)	$	100,380	$	(79,875	)	$	135	$	20,640
Customer relationships(1)		35,821		(12,634	)		280		23,467
Patents, trademarks, trade names and other(1)		27,536		(25,290	)		36		2,282

	$	163,737	$	(117,799	)	$	451	$	46,389

(1)	During 2014, the Company recorded $38,850 of separately identified intangible assets related to the acquisition of GP, of which $15,700 was completed technology, $21,250 was customer relationships and $1,900 was patents, trademarks, trade names and other.

Aggregate amortization expense related to acquired intangible assets for the years 2015, 2014 and 2013 was $6,764, $4,945 and $2,139, respectively. Aggregate amortization expense related to acquired intangible assets for future years is:


Year	Amount
2016	$	6,644
2017		6,561
2018		6,546
2019		6,504
2020		6,450
Thereafter		11,322

- 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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