Goodwill And Intangible Assets

12 Months Ended

Sep. 28, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill are as follows:



	Aircraft Controls			Space and Defense Controls			Industrial Systems			Components			Medical Devices			Total
Balance at October 2, 2010	$	173,507		$	121,623		$	122,120		$	160,896		$	126,670		$	704,816
Acquisitions	22,464			—			—			12,404			—			34,868
Adjustments to prior year acquisitions	(903		)	22			84			—			(138		)	(935		)
Foreign currency translation	(1,016		)	(229		)	(1,370		)	(769		)	(344		)	(3,728		)
Balance at October 1, 2011	194,052			121,416			120,834			172,531			126,188			735,021
Acquisitions	—			9,696			—			19,987			—			29,683
Adjustments to prior year acquisitions	(3,865		)	—			—			(147		)	—			(4,012		)
Foreign currency translation	2,199			(397		)	(1,259		)	2,093			(474		)	2,162
Balance at September 29, 2012	192,386			130,715			119,575			194,464			125,714			762,854
Acquisitions	—			29,361			—			11,218			—			40,579
Adjustments to prior year acquisitions	—			2,418			—			472			—			2,890
Impairment	—			—			—			—			(38,200		)	(38,200		)
Divestiture	—			—			—			—			(2,900		)	(2,900		)
Foreign currency translation	27			642			1,745			(1,301		)	588			1,701
Balance at September 28, 2013	$	192,413		$	163,136		$	121,320		$	204,853		$	85,202		$	766,924

We recorded a $38,200 goodwill impairment in 2013 in our Medical Devices reporting unit. We test goodwill for impairment at least annually, during our fourth quarter. In our fourth quarter, we also began a strategic assessment of our Medical Devices segment, including the possibility of divesting the entire segment. We estimated the fair value of this reporting unit using a discounted cash flow analysis, and our result was supported by information obtained as part of our strategic review of this business.

The components of acquired intangible assets are as follows:



	September 28, 2013						September 29, 2012
	Weighted- Average Life (Years)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Customer-related	10	$	193,744	$	(97,347	)	$	179,383	$	(80,953	)
Program-related	18	79,607		(18,988		)	79,631		(13,976		)
Technology-related	9	76,558		(42,000		)	67,969		(35,676		)
Marketing-related	9	33,259		(18,476		)	29,327		(16,145		)
Acquired intangible assets	12	$	383,168	$	(176,811	)	$	356,310	$	(146,750	)

All acquired intangible assets other than goodwill are being amortized. Customer-related intangible assets primarily consist of customer relationships. Program-related intangible assets consist of long-term programs represented by current contracts and probable follow on work. Technology-related intangible assets primarily consist of technology, patents, intellectual property and software. Marketing-related intangible assets primarily consist of trademarks, trade names and non-compete agreements.

Amortization of acquired intangible assets was $31,137 in 2013, $31,235 in 2012 and $28,948 in 2011. Based on acquired intangible assets recorded at September 28, 2013, amortization is estimated to be approximately $29,800 in 2014, $25,600 in 2015, $24,000 in 2016, $20,600 in 2017 and $18,900 in 2018.

- 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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