Goodwill, Intangible Assets and Impairment Charges (Tables)

12 Months Ended

Dec. 31, 2015

The following table summarizes changes in goodwill during the year ended December 31, 2015 (in thousands):

	December 31, 2015
Balance at beginning of year	$	90,746
Goodwill acquired from the Applimotion acquisition		7,672
Goodwill acquired from the Lincoln Laser acquisition		3,367
Goodwill acquired from the Skyetek acquisition		1,671
Balance at end of year	$	103,456

Goodwill by reportable segment as of December 31, 2015 is as follows (in thousands):

	Reportable Segment
	Laser Products			Vision Technologies			Precision Motion			Total
Goodwill	$	136,321		$	84,401		$	33,963		$	254,685
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	33,860		$	52,679		$	16,917		$	103,456

Goodwill by reportable segment as of December 31, 2014 is as follows (in thousands):

	Reportable Segment
	Laser Products			Vision Technologies			Precision Motion			Total
Goodwill	$	132,954		$	82,730		$	26,291		$	241,975
Accumulated impairment of goodwill		(102,461	)		(31,722	)		(17,046	)		(151,229	)
Total	$	30,493		$	51,008		$	9,245		$	90,746

Intangible assets as of December 31, 2015 and 2014, respectively, are summarized as follows (in thousands):

	December 31, 2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and acquired technologies	$	82,821	$	(66,297	)	$	16,524		7.7
Customer relationships		67,168		(36,914	)		30,254		13.6
Customer backlog		2,644		(2,589	)		55		1.0
Non-compete covenant		2,514		(882	)		1,632		3.2
Trademarks and trade names		10,711		(5,934	)		4,777		9.1
Amortizable intangible assets		165,858		(112,616	)		53,242		11.0
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	178,885	$	(112,616	)	$	66,269

	December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Weighted Average Remaining Life (Years)
Amortizable intangible assets:
Patents and acquired technologies	$	78,253	$	(62,010	)	$	16,243		7.5
Customer relationships		63,029		(31,531	)		31,498		14.7
Customer backlog		1,810		(1,641	)		169		0.2
Non-compete covenant		1,830		(366	)		1,464		4.2
Trademarks and trade names		10,205		(5,364	)		4,841		9.8
Amortizable intangible assets		155,127		(100,912	)		54,215		11.8
Non-amortizable intangible assets:
Trade names		13,027		—			13,027
Total	$	168,154	$	(100,912	)	$	67,242

Amortization expense is as follows (in thousands):

	Year Ended December 31,
	2015		2014		2013
Amortization expense – cost of revenue	$	4,712	$	6,143	$	5,280
Amortization expense – operating expenses		7,611		10,262		7,270
Total amortization expense	$	12,323	$	16,405	$	12,550

Estimated future amortization expense for each of the five succeeding years and thereafter is as follows (in thousands):

The results of the impairment review as of December 31, 2014 are summarized in the following table (in thousands):

	Pre-Impairment Net Carrying Value		Impairment Charge			Post-Impairment Net Carrying Value
Goodwill	$	110,321	$	(19,575	)	$	90,746
Intangible assets		89,109		(21,867	)		67,242
Total	$	199,430	$	(41,442	)	$	157,988