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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 28, 2019
Goodwill And Intangible Assets Disclosure [Abstract] |
Summary of changes in 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 |
Schedule of intangible assets | 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 |
Schedule of estimated amortization expense of intangible assets | 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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