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Goodwill and Intangible Assets (Tables)
 3 Months Ended
Mar. 29, 2013
Summary of Changes in Goodwill

The following table summarizes changes in goodwill for the three months ended March 29, 2013 (in thousands):

 

     March 29,
2013		  

Balance at beginning of the period

    $ 44,578   

Goodwill acquired from NDS acquisition

      28,693   
  

 

 

  

Balance at end of period

    $ 73,271   
  

 

 

  
Goodwill by Reportable Segment

Goodwill acquired from the NDS acquisition is reflected in the Precision Technologies segment. Goodwill by reportable segment as of March 29, 2013 is as follows (in thousands):

 

     Reportable Segment     Total  
     Laser
Products		     Precision
Technologies		    

Goodwill

    $ 84,592      $ 120,333      $ 204,925   

Accumulated impairment of goodwill

      (54,099 )      (77,555 )      (131,654 ) 
  

 

 

    

 

 

    

 

 

  

Total

    $ 30,493      $ 42,778      $ 73,271   
  

 

 

    

 

 

    

 

 

  

Goodwill by reportable segment as of December 31, 2012, as restated to conform to the current period segment presentation, is as follows (in thousands):

 

     Reportable Segment     Total  
     Laser
Products		     Precision
Technologies		    

Goodwill

    $ 84,592      $ 91,640      $ 176,232   

Accumulated impairment of goodwill

      (54,099 )      (77,555 )      (131,654 ) 
  

 

 

    

 

 

    

 

 

  

Total

    $ 30,493      $ 14,085      $ 44,578   
  

 

 

    

 

 

    

 

 

  
Intangible Assets

Intangible assets as of March 29, 2013 and December 31, 2012, respectively, are summarized as follows (in thousands):

 

     March 29, 2013      December 31, 2012  
     Gross Carrying
Amount		      Accumulated
Amortization		     Net Carrying
Amount		      Gross Carrying
Amount		      Accumulated
Amortization		     Net Carrying
Amount		  

Amortizable intangible assets:

                

Patents and acquired technologies

    $ 67,857       $ (51,656 )    $ 16,201       $ 61,667       $ (50,904 )    $ 10,763   

Customer relationships

      54,582         (20,005 )      34,577         33,245         (18,981 )      14,264   

Customer backlog

      3,598         (3,239 )      359         2,355         (2,355 )      —    

Trademarks, trade names and other

      13,232         (3,906 )      9,326         5,780         (3,814 )      1,966   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Amortizable intangible assets

      139,269         (78,806 )      60,463         103,047         (76,054 )      26,993   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Non-amortizable intangible assets:

                

Trade names

      13,027         —         13,027         13,027         —         13,027   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

Totals

    $ 152,296       $ (78,806 )    $ 73,490       $ 116,074       $ (76,054 )    $ 40,020   
  

 

 

     

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  
Amortization Expense of Intangible Assets

Amortization expense, by classification in the consolidated statements of operations, is summarized as follows (in thousands):

 

     Three Months Ended  
     March 29,
2013		      March 30,
2012		  

Amortization expense - cost of sales

    $ 1,251       $ 791   

Amortization expense - operating expenses

      2,236         662   
  

 

 

     

 

 

  

Total amortization expense

    $ 3,487       $ 1,453   
  

 

 

     

 

 

  
Estimated Amortization Expense

Estimated amortization expense for each of the five succeeding years and thereafter as of March 29, 2013, is as follows (in thousands):

 

Year Ending December 31,

    Cost of
Sales		      Operating
Expenses		      Total  

2013 (remainder of year)

    $ 4,029       $ 4,827       $ 8,856   

2014

      4,953         5,914         10,867   

2015

      3,310         5,343         8,653   

2016

      1,965         4,968         6,933   

2017

      1,573         4,654         6,227   

Thereafter

      371         18,556         18,927   
  

 

 

     

 

 

     

 

 

  

Total

    $ 16,201       $ 44,262       $ 60,463