Goodwill and Other Intangible Assets, Net

6 Months Ended

Jun. 29, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The changes in the carrying amount of goodwill by reportable segment for the quarter ended June 29, 2018 were as follows (in thousands):



	Medical			Non- Medical		Total
December 29, 2017	$	822,870		$	17,000	$	839,870
Foreign currency translation	(4,312		)	—		(4,312		)
June 29, 2018	$	818,558		$	17,000	$	835,558

Intangible Assets

Intangible assets at June 29, 2018 and December 29, 2017 were as follows (in thousands):



	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
June 29, 2018
Definite-lived:
Purchased technology and patents	$	242,561	$	(118,399	)	$	124,162
Customer lists	713,930		(91,906		)	622,024
Other	4,660		(4,622		)	38
Total	$	961,151	$	(214,927	)	$	746,224
Indefinite-lived:
Trademarks and tradenames						$	90,288

December 29, 2017
Definite-lived:
Purchased technology and patents	$	243,679	$	(111,185	)	$	132,494
Customer lists	718,649		(78,621		)	640,028
Other	4,660		(4,597		)	63
Total	$	966,988	$	(194,403	)	$	772,585
Indefinite-lived:
Trademarks and tradenames						$	90,288

Aggregate intangible asset amortization expense is comprised of the following (in thousands):



	Three Months Ended				Six Months Ended
	June 29, 2018		June 30, 2017		June 29, 2018		June 30, 2017
Cost of sales	$	3,673	$	3,761	$	7,389	$	7,496
Selling, general and administrative expenses	6,808		6,250		13,706		12,462
Research, development and engineering costs	38		136		77		272
Discontinued operations	350		899		1,410		1,794
Total intangible asset amortization expense	$	10,869	$	11,046	$	22,582	$	22,024

Estimated future intangible asset amortization expense based on the carrying value as of June 29, 2018 is as follows (in thousands):



	2018		2019		2020		2021		2022		After 2022
Amortization Expense	$	19,842	$	40,556	$	40,870	$	40,013	$	38,871	$	566,072

- 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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