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Goodwill and Intangible Assets | 12 Months Ended
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Dec. 28, 2019
Goodwill And Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | 8. GOODWILL AND INTANGIBLE ASSETS Goodwill A summary of changes in goodwill by segment for the years ended December 28, 2019 and December 29, 2018 is as follows:
|  | Hydraulics |  |  | Electronics |  |  | Total |
Balance at December 30, 2017 |  | $ | 2,496 |  |  | $ | 106,373 |  |  | $ | 108,869 |
Acquisition of Faster |  |  | 288,792 |  |  |  | — |  |  |  | 288,792 |
Acquisition of Custom Fluidpower |  |  | 5,111 |  |  |  | — |  |  |  | 5,111 |
Currency translation |  |  | (19,641 | ) |  |  | — |  |  |  | (19,641 | )
Balance at December 29, 2018 |  | $ | 276,758 |  |  | $ | 106,373 |  |  | $ | 383,131 |
Faster acquisition measurement period adjustment |  |  | (343 | ) |  |  | — |  |  |  | (343 | )
Custom Fluidpower acquisition measurement period adjustment |  |  | 1,205 |  |  |  | — |  |  |  | 1,205 |
Currency translation |  |  | (6,424 | ) |  |  | — |  |  |  | (6,424 | )
Balance at December 28, 2019 |  | $ | 271,196 |  |  | $ | 106,373 |  |  | $ | 377,569 |
Intangibles At December 28, 2019 and December 29, 2018, intangible assets consisted of the following:
|  |  |  | December 28, 2019 |  |  | December 29, 2018 |
|  | Useful life (years) |  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying amount |  |  | Gross carrying amount |  |  | Accumulated amortization |  |  | Net carrying amount |
Definite-lived intangibles: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Trade names and brands |  | 10-20 |  | $ | 56,032 |  |  | $ | (7,658 | ) |  | $ | 48,374 |  |  | $ | 56,604 |  |  | $ | (4,712 | ) |  | $ | 51,892 |
Non-compete agreements |  | 5 |  |  | 950 |  |  |  | (586 | ) |  |  | 364 |  |  |  | 950 |  |  |  | (396 | ) |  |  | 554 |
Technology |  | 7 - 13 |  |  | 31,704 |  |  |  | (8,661 | ) |  |  | 23,043 |  |  |  | 32,004 |  |  |  | (5,488 | ) |  |  | 26,516 |
Supply agreement |  | 10 |  |  | 21,000 |  |  |  | (6,475 | ) |  |  | 14,525 |  |  |  | 21,000 |  |  |  | (4,375 | ) |  |  | 16,625 |
Customer relationships |  | 15 - 26 |  |  | 227,844 |  |  |  | (19,499 | ) |  |  | 208,345 |  |  |  | 232,275 |  |  |  | (10,168 | ) |  |  | 222,107 |
Licensing agreement |  | 15 |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,716 |  |  |  | (862 | ) |  |  | 2,854 |
|  |  |  | $ | 337,530 |  |  | $ | (42,879 | ) |  | $ | 294,651 |  |  | $ | 346,549 |  |  | $ | (26,001 | ) |  | $ | 320,548 |
64 During 2019, the Company terminated its technology licensing agreement with Sturman Industries, Inc. A phase out of all digital logic valve (“DLV”) related products was completed and no further sales of any related products or technologies will occur. The termination of the agreement resulted in the recognition of a loss on disposal of the related intangibles asset totaling $2,713. Amortization expense for the 2019, 2018 and 2017 fiscal years was approximately $18,065, $23,262 and $8,423, respectively. Future estimated amortization expense is presented below.
Year: |  |  |  |
2020 |  | $ | 17,875 |
2021 |  |  | 17,775 |
2022 |  |  | 17,512 |
2023 |  |  | 17,453 |
2024 |  |  | 16,798 |
Thereafter |  |  | 207,238 |
Total |  | $ | 294,651 |

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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 + Details
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