Note 5 - Goodwill and Other Intangible Assets

6 Months Ended

Jun. 01, 2019

Notes to Financial Statements

Goodwill and Intangible Assets Disclosure [Text Block]

Note

5:

Goodwill

and Other Intangible Assets

The goodwill activity for the

six

months ended

June 1, 2019

is presented below:

	Americas						Asia			Construction		Engineering
	Adhesives			EIMEA			Pacific			Adhesives		Adhesives			Total
Balance at December 1, 2018	$	339,800		$	155,552		$	21,428		$	310,720	$	477,671		$	1,305,171
Acquisition		507			-			-			-		-			507
Currency impact		(443	)		(2,715	)		(208	)		75		(1,095	)		(4,386	)
Balance at June 1, 2019	$	339,864		$	152,837		$	21,220		$	310,795	$	476,576		$	1,301,292

As discussed in Note

16,

as of the beginning of fiscal

2019,

we realigned certain customers across operating segments. We allocated goodwill within our reporting units to reflect this realignment using the relative fair value approach.

Balances of amortizable identifiable intangible assets, excluding goodwill and other non-amortizable intangible assets, are as follows:

	June 1, 2019
Amortizable Intangible Assets	Purchased Technology and Patents			Customer Relationships			Trade Names			All Other			Total
Original cost	$	114,577		$	959,237		$	66,067		$	27,460		$	1,167,341
Accumulated amortization		(43,749	)		(202,260	)		(23,547	)		(21,767	)		(291,323	)
Net identifiable intangibles	$	70,828		$	756,977		$	42,520		$	5,693		$	876,018

	December 1, 2018
Amortizable Intangible Assets	Purchased Technology and Patents			Customer Relationships			Trade Names			All Other			Total
Original cost	$	118,930		$	953,929		$	65,975		$	33,550		$	1,172,384
Accumulated amortization		(41,503	)		(175,318	)		(21,573	)		(26,332	)		(264,726	)
Net identifiable intangibles	$	77,427		$	778,611		$	44,402		$	7,218		$	907,658

Amortization expense with respect to amortizable intangible assets was

$18,978

and

$19,276

for the

three

months ended

June 1, 2019

and

June 2, 2018,

respectively, and

$38,190

and

$38,519

for the

six

months ended

June 1, 2019

and

June 2, 2018,

respectively.

Estimated aggregate amortization expense based on the current carrying value of amortizable intangible assets for the next

five

fiscal years is as follows:

	Remainder
Fiscal Year	2019		2020		2021		2022		2023		Thereafter
Amortization Expense	$	38,370	$	72,311	$	70,766	$	69,564	$	66,982	$	558,025

Non-amortizable intangible assets as of

June 1, 2019

and

December 1, 2018

are

$487

and

$493,

respectively and are related to trademarks and trade names.