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Goodwill and Related Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Related Intangible Assets | GOODWILL AND RELATED INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill for the years ended December 31 were as follows (in thousands):
| Residential Products |  | Industrial and Infrastructure Products |  | Renewable Energy and Conservation |  | Total
Balance at December 31, 2015 | $ | 181,285 |  |  | $ | 53,704 |  |  | $ | 57,401 |  |  | $ | 292,390 |
Acquired goodwill | — |  |  | — |  |  | 12,283 |  |  | 12,283 |
Impairment | — |  |  | — |  |  | (929 | ) |  | (929 | )
Foreign currency translation | — |  |  | 180 |  |  | 108 |  |  | 288 |
Balance at December 31, 2016 | $ | 181,285 |  |  | $ | 53,884 |  |  | $ | 68,863 |  |  | $ | 304,032 |
Acquired goodwill | 16,790 |  |  | — |  |  | — |  |  | 16,790 |
Adjustments to prior year acquisitions | — |  |  | — |  |  | (832 | ) |  | (832 | )
Foreign currency translation | — |  |  | 396 |  |  | 688 |  |  | 1,084 |
Balance at December 31, 2017 | $ | 198,075 |  |  | $ | 54,280 |  |  | $ | 68,719 |  |  | $ | 321,074 |
Goodwill is recognized net of accumulated impairment losses of $235.4 million as of December 31, 2017 and 2016, respectively. No goodwill impairment charges were recognized by the Company during 2017. Annual Impairment Testing The Company performed its annual goodwill impairment test as of October 31, 2017, 2016, and 2015. The Company did not recognize any impairment charges during 2017, 2016, and 2015 as a result of the annual goodwill impairment test. However, subsequent to the annual goodwill impairment test as of October 31, 2016, the Company discontinued its European residential solar racking business which resulted in an impairment charge against goodwill of $0.9 million which was recorded for the year ended December 31, 2016. During the October 31, 2017 impairment test, the Company conducted a quantitative analysis for all eleven of the Company’s reporting units. The quantitative impairment test consists of comparing the fair value of a reporting unit with its carrying value including goodwill. The fair value of each reporting unit evaluated under the quantitative test was determined using two valuation techniques: an income approach and a market approach. Each valuation approach relies on significant assumptions including a weighted average cost of capital ("WACC") based upon the capital structure of market participants in the Company’s peer groups, projected revenue growth, forecasted cash flows, and earnings multiples based on the market value of the Company and market participants within its peer groups. As a result of our annual testing for 2017 and 2016, none of the reporting units with goodwill as of our testing date had carrying values in excess of their fair values. Interim Impairment Testing We test goodwill and indefinite-lived intangible assets for impairment on an annual basis as of October 31 and at interim dates when indicators of impairment are present. In 2017, 2016 and 2015, no indicators of impairment were identified as of interim dates; therefore, no interim tests were performed. Acquired Intangible Assets Acquired intangible assets consist of the following (in thousands):
| December 31, 2017 |  | December 31, 2016 |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |  | Estimated Useful Life
Indefinite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | $ | 45,107 |  |  | $ | — |  |  | $ | 44,720 |  |  | $ | — |  |  | Indefinite
Finite-lived intangible assets: |  |  |  |  |  |  |  |  |
Trademarks | 5,876 |  |  | 3,062 |  |  | 5,808 |  |  | 2,427 |  |  | 5 to 15 Years
Unpatented technology | 28,107 |  |  | 12,033 |  |  | 26,720 |  |  | 10,041 |  |  | 5 to 20 Years
Customer relationships | 80,707 |  |  | 39,652 |  |  | 78,569 |  |  | 33,585 |  |  | 5 to 17 Years
Non-compete agreements | 1,649 |  |  | 931 |  |  | 1,649 |  |  | 623 |  |  | 4 to 10 Years
Backlog | — |  |  | — |  |  | 900 |  |  | 900 |  |  | .5 to 2 Years
| 116,339 |  |  | 55,678 |  |  | 113,646 |  |  | 47,576 |  |  |
Total acquired intangible assets | $ | 161,446 |  |  | $ | 55,678 |  |  | $ | 158,366 |  |  | $ | 47,576 |  |  |
The Company recognized impairment charges related to indefinite-lived trademark intangible assets for the years ended December 31, 2017, 2016 and 2015. The Company also recognized impairment charges related to finite-lived intangible assets for the year ended December 31, 2016. The following table summarizes the impairment charges for the years ended December 31 (in thousands):
| 2017 |  | 2016 |  | 2015
| Indefinite-lived intangibles (1) |  | Definite-lived intangibles |  | Indefinite-lived intangibles (2) |  | Definite-lived intangibles (3) |  | Indefinite-lived intangibles (4) |  | Definite-lived intangibles
Residential Products | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 440 |  |  | $ | — |
Industrial and Infrastructure Products | — |  |  | — |  |  | 7,980 |  |  | — |  |  | 4,423 |  |  | — |
Renewable Energy and Conservation | 247 |  |  | — |  |  | 1,068 |  |  | 198 |  |  | — |  |  | — |
Impairment charges | $ | 247 |  |  | $ | — |  |  | $ | 9,048 |  |  | $ | 198 |  |  | $ | 4,863 |  |  | $ | — |
(1) Renewable Energy and Conservation impairment charges due to the discontinuation of its domestic greenhouse business in China. (2) Industrial and Infrastructure Products impairment charges due to discontinuation of U.S. bar grating product line and annual testing. Renewable Energy and Conservation impairment due to discontinuation of European residential solar racking business and annual testing. (3) Renewable Energy and Conservation impairment due to discontinuation of European residential solar racking business. (4) 2015 impairment charges recognized as a result of the Company’s annual impairment test of indefinite-lived intangibles. The Company recognized amortization expense related to the definite-lived intangible assets. The following table summarizes amortization expense for the years ended December 31 (in thousands):
| 2017 |  | 2016 |  | 2015
Amortization expense | $ | 8,761 |  |  | $ | 9,637 |  |  | $ | 12,679 |
Amortization expense related to acquired intangible assets for the next five years ended December 31 is estimated as follows (in thousands):
| 2018 |  | 2019 |  | 2020 |  | 2021 |  | 2022
Amortization expense | $ | 8,289 |  |  | $ | 7,618 |  |  | $ | 7,106 |  |  | $ | 6,504 |  |  | $ | 6,093 |

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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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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