The Company tests goodwill for impairment on an annual basis as of the beginning of the fourth quarter each year, or more frequently if indicators of potential impairment exist. Goodwill impairment testing is conducted at the reporting unit level, which is generally defined as an operating segment or one level below an operating segment (also known as a component), for which discrete financial information is available and segment management regularly reviews the operating results of that reporting unit.

At the beginning of the fourth quarter of fiscal 2020, the Company performed a quantitative goodwill impairment test on its reporting units. The Company utilizes a combination of the income approach and market value approach to estimate the fair value of a reporting unit. Cash flow projections are based on management’s estimates of revenue growth rates and earnings before interest, taxes, depreciation and amortization ("EBITDA") margins, taking into consideration business and market conditions for the countries and markets in which the reporting unit operates. The Company calculates the discount rate based on a market-participant, risk-adjusted weighted average cost of capital, which considers industry specific rates of return on debt and equity capital for a target industry capital structure, adjusted for risks associated with business size, geography and other factors specific to the reporting unit. The market value approach is based on appropriate valuation multiples observed for the reporting unit’s guideline public companies.

The goodwill impairment assessment indicated that it was more likely than not that the fair value of each of the reporting units exceeded its respective carrying value. The Company does not believe that any of its reporting units are at risk for impairment. While the Company considered the impact from the COVID-19 pandemic may have on its future cash flows when preparing its annual goodwill impairment test, the full extent of the impact that the COVID-19 pandemic will have on the Company's business, operations and financial condition is currently unknown. The Company will continue to assess its goodwill for impairment as events and circumstances change. Any deterioration in the Company's forecasted revenue and EBITDA margins, could result in an impairment of a portion or all of its goodwill. The amount of such impairment would be recognized as an expense in the period the goodwill is impaired.

(Dollars in Millions)	Automotive			Industrial			Total
Balance as of April 29, 2017	$	—		$	1.6		$	1.6
Acquisitions		57.2			—			57.2
Foreign Currency Translation		0.3			0.1			0.4
Balance as of April 28, 2018		57.5			1.7			59.2
Acquisitions		49.4			125.9			175.3
Foreign Currency Translation		(0.6	)		(0.6	)		(1.2	)
Balance as of April 27, 2019		106.3			127.0			233.3
Acquisitions		—			(0.2	)		(0.2	)
Foreign Currency Translation		(0.1	)		(1.4	)		(1.5	)
Balance as of May 2, 2020	$	106.2		$	125.4		$	231.6

(Dollars in Millions)	May 2, 2020		April 27, 2019
Grakon Industrial	$	123.8	$	125.4
North American Automotive		99.8		99.8
European Automotive		6.4		6.5
Other		1.6		1.6
Total	$	231.6	$	233.3

The following tables present details of the Company's identifiable intangible assets:

	As of May 2, 2020
(Dollars in Millions)	Gross		Accumulated Amortization			Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	243.5	$	(40.8	)	$	202.7		16.5
Trade Names, Patents and Technology Licenses		75.3		(35.0	)		40.3		7.8
Total Definite-lived Intangible Assets		318.8		(75.8	)		243.0
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses		1.8		—			1.8
Total Indefinite-lived Intangible Assets		1.8		—			1.8
Total Other Intangible Assets	$	320.6	$	(75.8	)	$	244.8

	As of April 27, 2019
(Dollars in Millions)	Gross		Accumulated Amortization			Net		Wtd. Avg. Remaining Amortization Periods (Years)
Definite-lived Intangible Assets:
Customer Relationships and Agreements	$	244.5	$	(27.7	)	$	216.8	17.4
Trade Names, Patents and Technology Licenses		75.5		(29.2	)		46.3	8.4
Total Definite-lived Intangible Assets		320.0		(56.9	)		263.1
Indefinite-lived Intangible Assets:
Trade Names, Patents and Technology Licenses		1.8		—			1.8
Total Indefinite-lived Intangible Assets		1.8		—			1.8
Total Other Intangible Assets	$	321.8	$	(56.9	)	$	264.9

The Company performed an impairment test for its indefinite-lived intangible asset and determined that no impairment existed at May 2, 2020. Based on the current amount of intangible assets subject to amortization, the estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is as follows:

(Dollars in Millions)
Fiscal Year:
2021	$	18.9
2022		18.9
2023		18.9
2024		18.5
2025		17.9
Thereafter		149.9
Total	$	243.0