Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2016

Goodwill And Intangible Assets Disclosure [Abstract]

Note J - Goodwill and Other Intangibles

The Company’s finite and indefinite-lived intangible assets consist of the following:

	December 31, 2017					December 31, 2016
	Gross Carrying		Accumulated			Gross Carrying		Accumulated
	Amount		Amortization			Amount		Amortization
Finite-lived intangible assets
Patents	$	4,806	$	(4,791	)	$	4,816	$	(4,799	)
Land use rights		1,199		(201	)		1,070		(180	)
Trademark		1,770		(1,166	)		1,725		(1,039	)
Technology		3,149		(1,215	)		3,057		(1,031	)
Customer relationships		12,350		(5,881	)		12,073		(5,217	)
	$	23,274	$	(13,254	)	$	22,741	$	(12,266	)
Indefinite-lived intangible assets
Goodwill	$	16,544				$	15,769

The Company performs its annual impairment test for goodwill utilizing a combination of discounted cash flow methodology, market comparables and an overall market capitalization reasonableness test in computing fair value by reporting unit. The Company then compares the fair value of the reporting unit with its carrying value to assess if goodwill has been impaired. Based on the assumptions as to growth, discount rates and the weighting used for each respective valuation methodology, results of the valuations could be significantly different. The Company believes that the methodologies and weightings used are reasonable and result in appropriate fair values of the reporting units.

The Company performed its annual impairment test for goodwill as of October 1, 2017 and October 1, 2016 and determined that no adjustment to the carrying value was required.

	USA		The Americas		EMEA			Asia-Pacific			Total
Balance at January 1, 2016	$	3,078	$	3,918	$	1,301		$	7,524		$	15,821
Currency translation and other		0		99		(14	)		(137	)		(52	)
Balance at December 31, 2016		3,078		4,017		1,287			7,387			15,769

Currency translation		0		275		208			292			775
Balance at December 31, 2017	$	3,078	$	4,292	$	1,495		$	7,679		$	16,544

The Company’s only intangible asset with an indefinite life is goodwill. The Company’s goodwill is not deductible for tax purposes.

The aggregate amortization expense for other intangibles with finite lives, ranging from 4 to 82 years, for the year ended December 31, 2017, 2016 and 2015 was $1.0 million, $1.0 million and $1.2 million, respectively. Amortization expense is estimated to be $1.0 million for 2018, $1.0 million for 2019, $.9 million for 2020, $.9 million for 2021 and $.9 million for 2022. The weighted-average remaining amortization period is approximately 16.8 years. The weighted-average remaining amortization period by intangible asset class; patents, 8 years; land use rights, 58.4 years; trademark, 9.1 years; technology, 13.9 years and customer relationships, 12.3 years.

- 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.

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