Intangibles and Goodwill

Our intangible assets with definite lives consist primarily of customer relationships, technology, brand names, non-compete agreements and patents. These intangible assets are being amortized on the straight-line method over the estimated useful lives of the assets ranging from 3-20 years and have a weighted average amortization period of 14 years. Amortization expense related to intangible assets was $17,357, $18,407 and $13,095 for fiscal 2018, 2017 and 2016, respectively. Our intangible assets that have indefinite useful lives, and therefore are not amortized, consist of trademarks and trade names.

Our intangible assets consist of the following:



	July 31, 2018							July 31, 2017
	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Intangible assets with finite lives:
Customer relationships	$	133,347	$	(45,618	)	$	87,729	$	119,576	$	(34,773	)	$	84,803
Technology⁽¹⁾	54,585		(19,836		)	34,749		39,064		(15,260		)	23,804
Brand names	8,141		(3,857		)	4,284		8,188		(3,225		)	4,963
Non-compete agreements	3,060		(1,628		)	1,432		3,092		(1,428		)	1,664
Patents and other registrations	2,826		(1,179		)	1,647		2,783		(1,053		)	1,730
	201,959		(72,118		)	129,841		172,703		(55,739		)	116,964
Trademarks and tradenames	7,520		—			7,520		7,548		—			7,548
Total intangible assets	$	209,479	$	(72,118	)	$	137,361	$	180,251	$	(55,739	)	$	124,512

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(1)	The gross and accumulated amortization amounts previously reported as of July 31, 2017 have been revised to exclude the $3,730 fully amortized technology intangible asset and associated accumulated amortization related to the Jet Prep business. This did not result in any change to the net technology intangible asset as of July 31, 2017.

During fiscal 2017, we decided to exit the Jet Prep business that was acquired in fiscal 2014. The Jet Prep acquisition was a fully integrated business within our Endoscopy segment. The useful life of the technology related intangible asset was revised to its respective cease use date, which resulted in accelerated amortization of approximately $2,401 that was recorded in the consolidated statements of income. In addition, we performed a relative fair value analysis for the goodwill recorded as part of the Jet Prep acquisition and determined that all of the goodwill would remain within the Endoscopy segment. We performed our annual goodwill impairment test of all of our reportable segments as of July 31, 2017, including the Endoscopy segment, which did not result in any impairment of our goodwill.

We expect to recognize $17,639, $15,893, $15,892, $15,550 and $15,177 of amortization expense related to intangible assets in fiscal 2019, 2020, 2021, 2022 and 2023, respectively.

Goodwill changed during fiscal 2018 and 2017 as follows:



	Endoscopy			Water Purification and Filtration			Healthcare Disposables		Dialysis		Total Goodwill
Balance, August 1, 2016	$	121,015		$	58,880		$	92,290	$	8,133	$	280,318
Acquisitions	8,193			—			21,989		—		30,182
Foreign currency translation	737			208			—		—		945
Balance, July 31, 2017	129,945			59,088			114,279		8,133		311,445
Acquisitions	58,026			—			—		—		58,026
Foreign currency translation	(1,281		)	(163		)	—		—		(1,444		)
Balance, July 31, 2018	$	186,690		$	58,925		$	114,279	$	8,133	$	368,027

On May 1, 2018, we performed impairment analysis of our goodwill and indefinite lived trademarks and trade names and concluded that such assets were not impaired, as more fully described in Note 2, “Summary of Significant Accounting Policies.”