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Note 5 - Goodwill and Other Intangible Assets
9 Months Ended
Sep. 01, 2018
Notes to Financial Statements  
Goodwill and Intangible Assets Disclosure [Text Block]
Note
5:
Goodwill
and Other Intangible Assets
 
The goodwill activity for the
nine
months ended
September 1, 2018
is presented below:
 
   
Americas
   
 
 
 
 
Asia
   
Construction
   
Engineering
   
 
 
 
   
Adhesives
   
EIMEA
   
Pacific
   
Adhesives
   
Adhesives
   
Total
 
Balance at December 2, 2017
  $
373,328
    $
177,464
    $
21,514
    $
324,860
    $
439,518
    $
1,336,684
 
Acquisitions
1
   
2,550
     
20,582
     
(194
)    
(14,322
)    
(5,998
)    
2,618
 
Currency impact
   
(3,839
)    
(7,709
)    
67
     
(332
)    
(10,572
)    
(22,385
)
Balance at September 1, 2018
  $
372,039
    $
190,337
    $
21,387
    $
310,206
    $
422,948
    $
1,316,917
 
 
1
Adjustments to preliminary goodwill for Royal Adhesives and Adecol as of
September 1, 2018.
 
 
As discussed in Note
17,
as of the beginning of fiscal
2018,
we modified our operating segment structure by allocating the Royal Adhesives segment into each of the
five
other segments. This resulted in a change in our reporting units. We allocated goodwill to our reporting units using the relative fair value approach.
 
Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows:
 
   
September 1, 2018
 
Amortizable Intangible Assets
 
Purchased
Technology
and
 
Patents
   
Customer
Relationships
   
All Other
   
Total
 
Original cost
 
$
130,971
   
$
956,923
   
$
109,304
   
$
1,197,198
 
Accumulated amortization
 
 
(35,024
)
 
 
(184,777
)
 
 
(47,693
)
 
 
(267,494
)
Net identifiable intangibles
 
$
95,947
   
$
772,146
   
$
61,611
   
$
929,704
 
 
   
December 2, 2017
 
Amortizable Intangible Assets
 
Purchased
Technology and
Patents
   
Customer
Relationships
   
All Other
   
Total
 
Original cost
  $
132,495
    $
968,060
    $
110,576
    $
1,211,131
 
Accumulated amortization
   
(27,478
)    
(144,964
)    
(37,417
)    
(209,859
)
Net identifiable intangibles
  $
105,017
    $
823,096
    $
73,159
    $
1,001,272
 
 
 
Amortization expense with respect to amortizable intangible assets was
$19,116
and
$7,899
for the
three
months ended
September 1, 2018
and
September 2, 2017,
respectively, and
$57,635
and
$23,128
for the
nine
months ended
September 1, 2018
and
September 2, 2017,
respectively.
 
Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next
five
fiscal years is as follows:
 
Fiscal Year
 
Remainder
2018
   
2019
   
2020
   
2021
   
2022
   
Thereafter
 
Amortization Expense
  $
19,024
    $
75,846
    $
73,309
    $
71,767
    $
69,193
    $
620,565
 
 
Non-amortizable intangible assets as of
September 1, 2018
and
December 2, 2017
are
$506
and
$520,
respectively and are related to trademarks and trade names.