GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 27, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying amount of goodwill were as follows (in millions):



	Goodwill		Accumulated Impairment Losses			Goodwill
Balance at December 28, 2012	$	94.3	$	(46.2	)	$	48.1
Goodwill acquired year to date (1)	34.1		—			34.1
Balance at December 27, 2013	$	128.4	$	(46.2	)	$	82.2


(1)	Goodwill acquired includes $25.7 million, $0.8 million, and $7.6 million due to the acquisitions of MDT, CTS, and TWC, respectively.

Intangible assets

The following table presents our purchased finite-lived intangible assets (in millions):



	December 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	$	35.9	$	(13.9	)	$	22.0	$	19.1	$	(10.5	)	$	8.6
Trade name/trademarks	5.2		(2.7		)	2.5		3.5		(1.6		)	1.9
Non-compete agreements	1.8		(0.5		)	1.3		1.8		(1.4		)	0.4
Total finite-lived intangible assets	$	42.9	$	(17.1	)	$	25.8	$	24.4	$	(13.5	)	$	10.9


(1)	Excludes assets that are fully amortized.

The components of intangible assets acquired for the fiscal year ended December 27, 2013, were as follows (in millions):



	MDT		CTS		TWC		Total Acquired Intangible Assets		Weighted Average Life
Customer relationships	$	7.8	$	1.4	$	7.6	$	16.8	8
Trade name/trademarks	1.0		0.1		0.6		1.7		1
Non-compete agreements	1.4		—		—		1.4		5
Total intangible assets acquired	$	10.2	$	1.5	$	8.2	$	19.9

Intangible assets are amortized using the straight-line method over their estimated useful lives. Amortization of our finite-lived intangible assets was $4.9 million, $3.1 million, and $2.9 million for 2013, 2012, and 2011, respectively.

The following table provides the estimated future amortization of finite-lived intangible assets as of December 27, 2013 (in millions):



2014	$	5.8
2015	5.1
2016	4.6
2017	2.6
2018	2.1
Thereafter	5.6
Total future amortization	$	25.8

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 was recognized during 2013, 2012, or 2011.

We also held indefinite lived trade name/trademarks of $5.7 million as of December 27, 2013 and December 28, 2012. We test goodwill and indefinite lived intangible assets for impairment at least annually. We performed our annual goodwill impairment test as of the last day of our fiscal third quarter of 2013 and determined that the estimated fair value exceeded the carrying amount of goodwill for all our reporting units. Accordingly, no impairment loss was required to be recognized during 2013. We had no goodwill impairment losses during 2012 or 2011.

- 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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