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Goodwill and Intangible Assets (Tables) | 3 Months Ended
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Apr. 01, 2017
Goodwill And Intangible Assets Disclosure [Abstract] |
Summary of changes in goodwill | A summary of changes in goodwill at April 1, 2017 is as follows:
|  | Hydraulics |  | Electronics |  | Total |
Balance at December 31, 2016 |  | $ | 2,214 |  | $ | 101,369 |  | $ | 103,583 |
Working capital adjustment |  |  | - |  |  | 500 |  |  | 500 |
Currency translation |  |  | 122 |  |  | - |  |  | 122 |
Balance at April 1, 2017 |  | $ | 2,336 |  | $ | 101,869 |  | $ | 104,205 |
Schedule of intangible assets | At April 1, 2017 and December 31, 2016, intangible assets consisted of the following:
|  | April 1, 2017 |  |  | December 31, 2016 |
|  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying amount |  |  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying amount |
Definite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade Name and Brands |  | $ | 30,774 |  |  | $ | (935 | ) |  | $ | 29,839 |  |  | $ | 30,774 |  |  | $ | (541 | ) |  | $ | 30,233 |
Non-compete Agreements |  |  | 950 |  |  |  | (63 | ) |  |  | 887 |  |  |  | 950 |  |  |  | (16 | ) |  |  | 934 |
Technology |  |  | 18,435 |  |  |  | (1,132 | ) |  |  | 17,303 |  |  |  | 18,435 |  |  |  | (620 | ) |  |  | 17,815 |
Supply Agreement |  |  | 21,000 |  |  |  | (700 | ) |  |  | 20,300 |  |  |  | 21,000 |  |  |  | (175 | ) |  |  | 20,825 |
Sales Order Backlog |  |  | 620 |  |  |  | (620 | ) |  |  | - |  |  |  | 620 |  |  |  | (347 | ) |  |  | 273 |
Customer Relationships |  |  | 39,751 |  |  |  | (1,112 | ) |  |  | 38,639 |  |  |  | 39,751 |  |  |  | (614 | ) |  |  | 39,137 |
Licensing Agreement |  |  | 3,727 |  |  |  | (451 | ) |  |  | 3,276 |  |  |  | 3,727 |  |  |  | (379 | ) |  |  | 3,348 |
|  | $ | 115,257 |  |  | $ | (5,013 | ) |  | $ | 110,244 |  |  | $ | 115,257 |  |  | $ | (2,692 | ) |  | $ | 112,565 |
Schedule of estimated amortization expense of intangible assets | Amortization expense of intangible assets for the three months ended April 1, 2017, and April 2, 2016 was approximately $2,310 and $187, respectively. Total estimated amortization expense of intangible assets for the years 2018 through 2022 is presented below. The remaining amortization for 2017 is approximately $6,112.
Year: |  |  |  |
2018 |  | $ | 8,148 |
2019 |  |  | 8,148 |
2020 |  |  | 8,148 |
2021 |  |  | 8,117 |
2022 |  |  | 7,839 |
Total |  | $ | 40,400 |

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