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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets |
11) | Goodwill and Intangible Assets
Goodwill The Company’s methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically acquisitions relate to a single reporting unit and thus do not require the allocation of goodwill to multiple reporting units. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process. Goodwill and purchased intangible assets with indefinite useful lives are not amortized, but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment. The Company regularly monitors current business conditions and other factors including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. Effective July 1, 2018, the Company reassigned goodwill to certain reporting units within the Light & Motion reportable segment resulting from a reorganization of the composition of reporting units. The goodwill was reassigned to the reporting units affected using the relative fair value approach. In conjunction with this goodwill reassignment, the Company performed an interim quantitative impairment test as of July 1, 2018 for all of its reporting units and concluded that the fair values of each reporting unit exceeded their respective carrying values. The changes in the carrying amount of goodwill and accumulated impairment losses were as follows:
|  | 2018 |  |  | 2017 |
|  | Gross Carrying Amount |  |  | Accumulated Impairment Loss |  |  | Net |  |  | Gross Carrying Amount |  |  | Accumulated Impairment Loss |  |  | Net |
Beginning balance at January |  | $ | 735,323 |  |  | $ | (144,276 | ) |  | $ | 591,047 |  |  | $ | 727,999 |  |  | $ | (139,414 | ) |  | $ | 588,585 |
Sale of business(1) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (3,115 | ) |  |  | — |  |  |  | (3,115 | )
Impairment loss(2) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (4,862 | ) |  |  | (4,862 | )
Foreign currency translation |  |  | (4,051 | ) |  |  | — |  |  |  | (4,051 | ) |  |  | 10,439 |  |  |  | — |  |  |  | 10,439 |
Ending balance at December 31 |  | $ | 731,272 |  |  | $ | (144,276 | ) |  | $ | 586,996 |  |  | $ | 735,323 |  |  | $ | (144,276 | ) |  | $ | 591,047 |
(1) | In 2017, the Company sold its Data Analytics business and, as a result, charged the related goodwill of $3,115 to the gain on sale of business.
(2) | In 2017, the Company recorded an impairment loss of $4,862 related to the write-off of goodwill as a result of the discontinuation of a product line and consolidation of two manufacturing plants.
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. During 2017, the Company recorded impairment charges of $1,511 related to the write off of intangible assets as a result of the discontinuation of a product line and consolidation of two manufacturing plants. Components of the Company’s acquired intangible assets are comprised of the following:
As of December 31, 2018 |  | Gross |  |  | Impairment Charges(1) |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net |
Completed technology |  | $ | 172,431 |  |  | $ | (105 | ) |  | $ | (137,283 | ) |  | $ | (73 | ) |  | $ | 34,970 |
Customer relationships |  |  | 282,744 |  |  |  | (1,406 | ) |  |  | (63,788 | ) |  |  | (269 | ) |  |  | 217,281 |
Patents, trademarks, trade names and other |  |  | 110,523 |  |  |  | — |  |  |  | (42,954 | ) |  |  | (13 | ) |  |  | 67,556 |
|  | $ | 565,698 |  |  | $ | (1,511 | ) |  | $ | (244,025 | ) |  | $ | (355 | ) |  | $ | 319,807 |
As of December 31, 2017 |  | Gross |  |  | Impairment Charges(1) |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net |
Completed technology |  | $ | 172,431 |  |  | $ | (105 | ) |  | $ | (115,371 | ) |  | $ | 333 |  |  | $ | 57,288 |
Customer relationships |  |  | 282,744 |  |  |  | (1,406 | ) |  |  | (45,518 | ) |  |  | 1,571 |  |  |  | 237,391 |
Patents, trademarks, trade names and other |  |  | 110,523 |  |  |  | — |  |  |  | (38,730 | ) |  |  | (74 | ) |  |  | 71,719 |
|  | $ | 565,698 |  |  | $ | (1,511 | ) |  | $ | (199,619 | ) |  | $ | 1,830 |  |  | $ | 366,398 |
(1) | In 2017, the Company recorded impairment charges of $1,511 related to the write-off of intangible assets as a result of the discontinuation of a product line and consolidation of two manufacturing plants.
Aggregate amortization expense related to acquired intangible assets for the years 2018, 2017 and 2016 was $43,521, $45,743 and $35,681, respectively. The amortization expense in 2018, 2017 and 2016 is net of $885, $811 and $569, respectively, of amortization income from unfavorable lease commitments. Aggregate net amortization expense related to acquired intangible assets and unfavorable lease commitments for future years is:
Year |  | Amount |
2019 |  | $ | 40,073 |
2020 |  | $ | 28,076 |
2021 |  | $ | 20,206 |
2022 |  | $ | 17,584 |
2023 |  | $ | 17,220 |
Thereafter |  | $ | 138,693 |

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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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