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Other Assets goodwill (Policies)
 3 Months Ended
Apr. 02, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Disclosure [Text Block]
Goodwill is summarized as follows:
 
April 2,
2020
 
December 31,
2019
Goodwill - United Kingdom
2.3

 
2.4

Goodwill - United States(1)
76.2

 
—

Total
$
78.5

 
$
2.4


(1) The acquisition of Fiber Materials Inc. ("FMI") on January 10, 2020 resulted in the establishment of $76.2 goodwill. Management used its best judgment to assess the potential impact of COVID-19 pandemic on the valuation of this goodwill as of April 2, 2020.

The changes in the allocation of goodwill by reportable segment within the period ended April 2, 2020 reflect the FMI acquisition. The goodwill balance as of December 31, 2019 of $2.4 is allocated to the Wing Systems Segment. The balance as of April 2, 2020 is allocated $43.0 to the Fuselage Systems Segment, $33.2 to the Propulsion Systems Segment, and $2.3 to the Wing Systems Segment. The total goodwill value of $78.5 includes no accumulated impairment loss in any of the periods presented. The change in value from December 31, 2019 to April 2, 2020 for the Europe goodwill item, as seen in the table above, reflects net exchange differences arising during the period.


Intangible assets are summarized as follows:
 
April 2,
2020
 
December 31,
2019
Intangible assets
 

 
 

Patents
$
2.0

 
$
2.0

Favorable leasehold interests
2.8

 
2.8

Developed technology asset(1)
30.0

 
—

Total intangible assets
34.8

 
4.8

Less: Accumulated amortization - patents
(2.0
)
 
(1.9
)
    Accumulated amortization - favorable leasehold interest
(1.7
)
 
(1.7
)
         Accumulated amortization - developed technology asset
(0.5
)
 
—

Intangible assets, net
30.6

 
1.2


(1) The acquisition of FMI on January 10, 2020 resulted in the establishment of a $30.0 intangible asset for developed technology as of April 2, 2020. Management used its best judgment to assess the potential impact of COVID-19 pandemic on the valuation of this intangible asset.


The amortization for each of the five succeeding years relating to intangible assets currently recorded in the condensed consolidated balance sheet and the weighted average amortization is estimated to be the following as of April 2, 2020:
Year
Patents
Favorable leasehold interest
Developed Technology
Total
remaining in 2020
—

0.1

1.5

1.6

2021
—

0.1

2.0

2.1

2022
—

0.1

2.0

2.1

2023
—

0.1

2.0

2.1

2024
—

0.1

2.0

2.1

2025
—

0.1

2.0

2.1

 
 
 
 
 
Weighted average amortization period
—

9.5

15.0

14.8