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Goodwill and Other Intangible Assets | 3 Months Ended
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Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets Goodwill and other intangible assets, net, consisted of $161,911,000 of goodwill and $116,572,000 of intangible assets, net of accumulated amortization, as of March 31, 2016. Additions to goodwill and other intangible assets relate to acquisitions, primarily the March 2016 acquisition of Taylor-Dunn, a leading provider of industrial vehicles serving a broad range of commercial, manufacturing, warehouse and ground-support customers. Taylor-Dunn is based in Anaheim, California, and is included in the Global Adjacent Markets reporting segment. For the acquisition, the aggregate purchase price was allocated on a preliminary basis to the assets acquired and liabilities assumed based on their estimated fair values at the date of acquisition. Taylor-Dunn financial results are included in the Company’s consolidated results from the date of acquisition. Pro forma financial results are not presented as the acquisition is not material to the consolidated financial statements. As of March 31, 2016, the purchase price allocation for the acquisition remains preliminary. In April 2015, the Company acquired Timbersled Products, Inc. (“Timbersled”) and HH Investment Limited (“Hammerhead”). Timbersled is based in Idaho and is an innovator and market leader in the burgeoning snow bike industry. Hammerhead is based in Shanghai, China and manufactures gasoline powered go-karts, light utility vehicles, and electric utility vehicles. Hammerhead markets its products globally under the Hammerhead Offroad® brand, along with maintaining key private label relationships with other original equipment manufacturers. In December 2015, the Company completed the acquisition of certain assets of 509, Inc. (“509”). 509 is based in Washington and is an aftermarket leader in snowmobile helmets and goggles. As of March 31, 2016, the purchase price allocation for 509 remains preliminary. The changes in the carrying amount of goodwill for the three months ended March 31, 2016 were as follows (in thousands):
| Three months ended March 31, 2016
Goodwill, beginning of period | $ | 131,014 |
Goodwill from businesses acquired | 27,961 |
Currency translation effect on foreign goodwill balances | 2,936 |
Goodwill, end of period | $ | 161,911 |
For other intangible assets, the changes in the net carrying amount for the three months ended March 31, 2016 were as follows (in thousands):
| Three months ended March 31, 2016
| Gross Amount |  | Accumulated Amortization
Other intangible assets, beginning of period | $ | 138,831 |  |  | $ | (33,728 | )
Intangible assets acquired during the period | 13,600 |  |  | — |
Amortization expense | — |  |  | (3,407 | )
Foreign currency translation effect on balances | 1,958 |  |  | (682 | )
Other intangible assets, end of period | $ | 154,389 |  |  | $ | (37,817 | )
The components of other intangible assets were as follows (in thousands):
| Total estimated life (years) |  | March 31, 2016 |  | December 31, 2015
Non-amortizable—indefinite lived: |  |  |  |  |
Brand names |  |  | $ | 54,075 |  |  | $ | 51,951 |
Amortizable: |  |  |  |  |
Non-compete agreements | 5 |  | 540 |  |  | 540 |
Dealer/customer related | 7 |  | 80,358 |  |  | 67,079 |
Developed technology | 5-7 |  | 19,416 |  |  | 19,261 |
Total amortizable |  |  | 100,314 |  |  | 86,880 |
Less: Accumulated amortization |  |  | (37,817 | ) |  | (33,728 | )
Net amortized other intangible assets |  |  | 62,497 |  |  | 53,152 |
Total other intangible assets, net |  |  | $ | 116,572 |  |  | $ | 105,103 |
Amortization expense for intangible assets for the three months ended March 31, 2016 and 2015 was $3,407,000 and $2,752,000, respectively. Estimated amortization expense for the remainder of 2016 through 2021 is as follows: 2016 (remainder), $11,300,000; 2017, $14,800,000; 2018, $12,700,000; 2019, $11,000,000; 2020, $6,100,000; 2021, $3,800,000; and after 2021, $2,800,000. The preceding expected amortization expense is an estimate and actual amounts could differ due to additional intangible asset acquisitions, changes in foreign currency rates or impairment of intangible assets.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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