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GOODWILL AND INTANGIBLE ASSETS | 3 Months Ended
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Jul. 28, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS We review our goodwill and other intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of these assets may not be recoverable, and at least annually in accordance with ASC No. 350, "Intangibles — Goodwill and Others." The values assigned to goodwill and intangible assets are normally based on estimates and judgments regarding expectations for the success and life cycle of products and technologies acquired. A severe decline in expectations could result in significant impairment charges, which could have a material adverse effect on our financial condition and results of operations. As part of the acquisitions of Procoplast and Pacific Insight in fiscal 2018, the Company recorded goodwill of $6.8 million and $50.4 million, respectively, of which none is deductible for income taxes. The following table shows the roll-forward of goodwill in the financial statements as of July 28, 2018.
|  | Automotive |  | Interface |  | Power Products |  | Total
Balance as of April 28, 2018 |  | $ | 57.5 |  |  | $ | 0.7 |  |  | $ | 1.0 |  |  | $ | 59.2 |
Goodwill Acquired |  | — |  |  | — |  |  | — |  |  | — |
Foreign Currency Translation |  | (0.4 | ) |  | — |  |  | — |  |  | (0.4 | )
Balance as of July 28, 2018 |  | $ | 57.1 |  |  | $ | 0.7 |  |  | $ | 1.0 |  |  | $ | 58.8 |
As part of the acquisitions of Procoplast and Pacific Insight in fiscal 2018, the Company acquired estimated intangible assets of $19.2 million and $40.1 million, respectively. The following tables present details of the Company’s intangible assets.
|  | As of July 28, 2018
|  | Gross |  | Accumulated Amortization |  | Net |  | Wtd. Avg. Remaining Amortization Periods (Years)
Customer Relationships and Agreements |  | $ | 63.3 |  |  | $ | 19.0 |  |  | $ | 44.3 |  |  | 12.1
Trade Names, Patents and Technology Licenses |  | 37.7 |  |  | 23.8 |  |  | 13.9 |  |  | 5.2
Total |  | $ | 101.0 |  |  | $ | 42.8 |  |  | $ | 58.2 |  |  |
|  | As of April 28, 2018
|  | Gross |  | Accumulated Amortization |  | Net |  | Wtd. Avg. Remaining Amortization Periods (Years)
Customer Relationships and Agreements |  | $ | 64.4 |  |  | $ | 18.1 |  |  | $ | 46.3 |  |  | 12.3
Trade Names, Patents and Technology Licenses |  | 37.7 |  |  | 23.0 |  |  | 14.7 |  |  | 5.3
Total |  | $ | 102.1 |  |  | $ | 41.1 |  |  | $ | 61.0 |  |  |
The estimated aggregate amortization expense for the current fiscal year and each of the four succeeding fiscal years is as follows:
2019 |  | $ | 7.5 |
2020 |  | $ | 5.5 |
2021 |  | $ | 5.4 |
2022 |  | $ | 5.4 |
2023 |  | $ | 5.4 |
As of July 28, 2018 and April 28, 2018, the trade names, patents and technology licenses include $1.8 million of trade names that are not subject to amortization.

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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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