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GOODWILL AND INTANGIBLE ASSETS
 9 Months Ended
Sep. 27, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS
GOODWILL AND INTANGIBLE ASSETS
Goodwill
We acquired MDT effective February 4, 2013. The assets acquired and liabilities assumed were recorded at the date of acquisition at their estimated fair values. Assets acquired included finite-lived intangible assets of $10.2 million with an estimated weighted average useful life of 7.0 years. The excess of the purchase price over the estimated fair values of the net assets acquired in the amount of $25.7 million was recorded as goodwill and primarily represents synergies with our existing business, the acquired assembled workforce, and potential new customers.
Changes in the carrying amount of goodwill were as follows (in millions):
 
Goodwill
 
Accumulated Impairment Losses
 
Goodwill, net
Balance at December 28, 2012
$
94.3

 
$
(46.2
)
 
$
48.1

Goodwill acquired year to date (1)
26.5

 
—

 
26.5

Balance at September 27, 2013
$
120.8

 
$
(46.2
)
 
$
74.6

____________________
(1)
Goodwill acquired includes $25.7 million due to the MDT acquisition. Goodwill acquired also includes $0.8 million of goodwill related to our acquisition of Crowley.
Goodwill and indefinite-lived intangible assets are reviewed for impairment whenever events and circumstances indicate the carrying value may not be recoverable. We noted no such event or circumstance and accordingly no impairment loss has been recognized during the thirty-nine weeks ended September 27, 2013.
Intangible assets
The following table presents our purchased finite-lived intangible assets (in millions):
 
September 27, 2013
 
December 28, 2012
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Finite-lived intangible assets (1):
 
 
 
 
 
 
 
 
 
 
 
Customer relationships (2)
$
28.3

 
$
(12.8
)
 
$
15.5

 
$
19.1

 
$
(10.5
)
 
$
8.6

Trade name/trademarks (2)
4.6

 
(2.3
)
 
2.3

 
3.5

 
(1.6
)
 
1.9

Non-compete agreements (2)
1.8

 
(0.4
)
 
1.4

 
1.8

 
(1.4
)
 
0.4

Total finite-lived intangible assets
$
34.7

 
$
(15.5
)
 
$
19.2

 
$
24.4

 
$
(13.5
)
 
$
10.9

____________________
(1)
Excludes assets that are fully amortized.
(2)
Includes customer relationships, trade name, and non-compete agreement resulting from the MDT acquisition of $7.8 million, $1.0 million, and $1.4 million, respectively, and customer relationships and trade name resulting from the Crowley acquisition of $1.4 million and $0.1 million, respectively.
Intangible assets are amortized using the straight-line method over their estimated useful lives. Amortization of our finite-lived intangible assets was $1.2 million and $0.8 million for the thirteen weeks ended September 27, 2013 and September 28, 2012, respectively. Amortization of our finite-lived intangible assets was $3.4 million and $2.4 million for the thirty-nine weeks ended September 27, 2013 and September 28, 2012, respectively.
We also held indefinite lived trade name/trademarks of $5.7 million as of September 27, 2013 and December 28, 2012.
The following table provides the estimated future amortization of finite-lived intangible assets as of September 27, 2013 (in millions):
Remainder of 2013
$
1.2

2014
4.5

2015
4.1

2016
3.8

2017
1.8

Thereafter
3.8

Total intangible assets, net

$
19.2


Finite-lived intangible assets are reviewed for impairment whenever events and circumstances indicate the carrying value may not be recoverable. We noted no such event or circumstance and accordingly no impairment loss has been recognized during the thirty-nine weeks ended September 27, 2013.