Goodwill And Intangible Assets

9 Months Ended

Jul. 01, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

The changes in the carrying amount of goodwill are as follows:



	Aircraft Controls		Space and Defense Controls			Industrial Systems		Components		Total
Balance at October 1, 2016	$	179,694	$	174,514		$	106,318	$	279,636	$	740,162
Acquisitions	—		—			—		27,429		27,429
Divestitures and held for sale	—		(1,914		)	—		—		(1,914		)
Foreign currency translation	189		(180		)	434		2,461		2,904
Balance at July 1, 2017	$	179,883	$	172,420		$	106,752	$	309,526	$	768,581

Goodwill in our Space and Defense Controls segment is net of a $4,800 accumulated impairment loss at July 1, 2017.

Goodwill in our Medical Devices reporting unit, included in our Components segment, is net of a $38,200 accumulated impairment loss at July 1, 2017.

The components of intangible assets are as follows:



		July 1, 2017					October 1, 2016
	Weighted- Average Life (years)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Customer-related	11	$	173,812	$	(123,934	)	$	165,445	$	(117,434	)
Technology-related	9	71,235		(53,868		)	70,277		(52,060		)
Program-related	19	64,964		(28,962		)	64,774		(26,018		)
Marketing-related	9	26,306		(18,716		)	25,031		(17,649		)
Other	10	4,371		(3,308		)	4,269		(3,075		)
Intangible assets	12	$	340,688	$	(228,788	)	$	329,796	$	(216,236	)

Substantially all acquired intangible assets other than goodwill are being amortized. Customer-related intangible assets primarily consist of customer relationships. Technology-related intangible assets primarily consist of technology, patents, intellectual property and software. Program-related intangible assets consist of long-term programs represented by current contracts and probable follow on work. Marketing-related intangible assets primarily consist of trademarks, trade names and non-compete agreements.

Amortization of acquired intangible assets was $4,680 and $13,880 for the three and nine months ended July 1, 2017 and $4,989 and $16,285 for the three and nine months ended July 2, 2016. Based on acquired intangible assets recorded at July 1, 2017, amortization is expected to be approximately $18,800 in 2017, $18,300 in 2018, $16,900 in 2019, $14,600 in 2020 and $9,200 in 2021.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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