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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill On January 6, 2017, we acquired DSP. For further detail on the goodwill recorded on the acquisition date, see Note 5, “Acquisitions.” The changes in the carrying amount of goodwill for the period ending December 31, 2017, by operating segment, were as follows:
(Dollars in thousands) | Advanced Connectivity Solutions |  | Elastomeric Material Solutions |  | Power Electronics Solutions |  | Other |  | Total
December 31, 2016 | $ | 51,693 |  |  | $ | 91,531 |  |  | $ | 62,983 |  |  | $ | 2,224 |  |  | $ | 208,431 |
Purchase accounting adjustment | — |  |  | 346 |  |  | — |  |  | — |  |  | 346 |
DSP acquisition | — |  |  | 17,793 |  |  | — |  |  | — |  |  | 17,793 |
Foreign currency translation adjustment | — |  |  | 1,905 |  |  | 8,632 |  |  | — |  |  | 10,537 |
December 31, 2017 | $ | 51,693 |  |  | $ | 111,575 |  |  | $ | 71,615 |  |  | $ | 2,224 |  |  | $ | 237,107 |
Annual Impairment Testing We perform our annual goodwill impairment testing in the fourth quarter of the year. In 2017, we estimated the fair value of our reporting units using an income approach based on the present value of future cash flows. We believe this approach yields the most appropriate evidence of fair value as our reporting units are not easily compared to other corporations involved in similar businesses. We further believe that the assumptions and rates used in our annual impairment test are reasonable, but inherently uncertain. We currently have four reporting units with goodwill - ACS, EMS, curamik® and the Elastomer Components Division (ECD). Other Intangible Assets On January 6, 2017, we acquired DSP. For further detail on the other intangible assets recorded on the acquisition, see Note 5, “Acquisitions.” The changes in the carrying amount of other intangible assets for the two-year period ending December 31, 2017, were as follows:
| December 31, 2017 |  | December 31, 2016
(Dollars in thousands) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Customer relationships | $ | 128,907 |  |  | $ | 22,514 |  |  | $ | 106,393 |  |  | $ | 96,148 |  |  | $ | 14,311 |  |  | $ | 81,837 |
Technology | 73,891 |  |  | 33,491 |  |  | 40,400 |  |  | 68,880 |  |  | 24,365 |  |  | 44,515 |
Trademarks and patents | 10,213 |  |  | 2,157 |  |  | 8,056 |  |  | 6,825 |  |  | 1,156 |  |  | 5,669 |
Covenant not to compete | 1,799 |  |  | 1,108 |  |  | 691 |  |  | 1,419 |  |  | 932 |  |  | 487 |
Total definite-lived other intangible assets | 214,810 |  |  | 59,270 |  |  | 155,540 |  |  | 173,272 |  |  | 40,764 |  |  | 132,508 |
Indefinite-lived other intangible asset | 4,738 |  |  | — |  |  | 4,738 |  |  | 4,168 |  |  | — |  |  | 4,168 |
Total other intangible assets | $ | 219,548 |  |  | $ | 59,270 |  |  | $ | 160,278 |  |  | $ | 177,440 |  |  | $ | 40,764 |  |  | $ | 136,676 |
In the table above, gross carrying amounts and accumulated amortization may differ from prior periods due to foreign exchange rate fluctuations. The indefinite-lived trademark other intangible asset was acquired in our acquisition of Curamik Electronics GmbH and is assessed for impairment annually or when events or changes in circumstances indicate that the carrying value may not be recoverable. The definite-lived other intangible assets are amortized using a fair value methodology that is based on the projected economic use of the related underlying asset. In the fourth quarter of 2017, we recognized a $0.5 million impairment charge related to the remaining net book value of an other intangible asset within our ROLINX® product line in our PES operating segment. Amortization expense was approximately $14.8 million, $11.2 million and $10.9 million in 2017, 2016 and 2015, respectively. The estimated annual future amortization expense is $15.3 million, $15.1 million, $11.8 million, $11.1 million and $10.7 million in 2018, 2019, 2020, 2021 and 2022, respectively. These amounts could vary based on changes in foreign currency exchange rates. The weighted average amortization period as of December 31, 2017, by definite-lived other intangible asset class, is presented in the table below:
Definite-Lived Other Intangible Asset Class | Weighted Average Amortization Period
Customer relationships | 9.6
Technology | 5.4
Trademarks and patents | 6.5
Covenant not to compete | 2.5
Total definite-lived other intangible assets | 8.3

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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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