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Goodwill and Indefinite-Lived Intangibles

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Indefinite-Lived Intangibles

GOODWILL AND INDEFINITE-LIVED INTANGIBLES

The changes in the carrying amount of goodwill and indefinite-lived intangibles are as follows:

(In millions)	Goodwill				Indefinite-lived intangibles				Total
Balance at December 31, 2016	$	424.3			$	678.5			$	1,102.8
Foreign currency translation effects	2.9				—				2.9
Balance at July 1, 2017	$	427.2			$	678.5			$	1,105.7
Balance at December 30, 2017	$	429.8			$	604.5			$	1,034.3
Foreign currency translation effects	(2.8		)		—				(2.8		)
Balance at June 30, 2018	$	427.0			$	604.5			$	1,031.5

In the fourth quarter of fiscal 2017, as a result of its annual impairment testing, the Company recognized a $68.6 million impairment charge for the Sperry^® trade name. If the operating results for Sperry^® were to decline in future periods compared to current projections, the Company may need to record an additional non-cash impairment charge. The carrying value of the Company’s Sperry^® trade name indefinite-lived intangible asset was $518.2 million as of June 30, 2018.

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- References

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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

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