Goodwill and Other Identifiable Intangible Assets

3 Months Ended

Jun. 03, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Identifiable Intangible Assets

The carrying amount of goodwill attributable to each reporting segment was:



(In thousands)	Architectural Glass		Architectural Framing Systems			Architectural Services		Large-Scale Optical		Total
Balance at February 27, 2016	$	25,639	$	36,680		$	1,120	$	10,557	$	73,996
Goodwill acquired	—		27,444			—		—		27,444
Foreign currency translation	317		(423		)	—		—		(106		)
Balance at March 4, 2017	25,956		63,701			1,120		10,557		101,334
Goodwill adjustment for purchase accounting	—		(5,860		)	—		—		(5,860		)
Foreign currency translation	50		(313		)	—		—		(263		)
Balance at June 3, 2017	$	26,006	$	57,528		$	1,120	$	10,557	$	95,211

Purchase accounting related to the acquisition of Sotawall was finalized during the current quarter (see Note 8).

The gross carrying amount of other intangible assets and related accumulated amortization was:



(In thousands)	Gross Carrying Amount		Accumulated Amortization			Foreign Currency Translation			Net
June 3, 2017
Definite-lived intangible assets:
Debt issue costs	$	4,066	$	(3,013	)	$	—		$	1,053
Non-compete agreements	6,286		(6,111		)	10			185
Customer relationships	85,296		(15,263		)	(465		)	69,568
Trademarks and other intangibles	25,950		(7,261		)	(103		)	18,586
Total definite-lived intangible assets	$	121,598	$	(31,648	)	$	(558	)	$	89,392
Indefinite-lived intangible assets:
Trademarks	16,061		—			(123		)	15,938
Total intangible assets	$	137,659	$	(31,648	)	$	(681	)	$	105,330
March 4, 2017
Definite-lived intangible assets:
Debt issue costs	$	4,066	$	(2,960	)	$	—		$	1,106
Non-compete agreements	6,286		(6,025		)	(65		)	196
Customer relationships	82,479		(14,013		)	(145		)	68,321
Trademarks and other intangibles	25,950		(4,917		)	(31		)	21,002
Total definite-lived intangible assets	$	118,781	$	(27,915	)	$	(241	)	$	90,625
Indefinite-lived intangible assets:
Trademarks	16,022		—			39			16,061
Total intangible assets	$	134,803	$	(27,915	)	$	(202	)	$	106,686

Amortization expense on definite-lived intangible assets was $3.4 million and $0.4 million for the three-month periods ended June 3, 2017 and May 28, 2016, respectively. The amortization expense associated with debt issue costs is included in interest expense while the remainder is in selling, general and administrative expenses in the consolidated results of operations. At June 3, 2017, the estimated future amortization expense for definite-lived intangible assets was:



(In thousands)	Remainder of Fiscal 2018		Fiscal 2019		Fiscal 2020		Fiscal 2021		Fiscal 2022
Estimated amortization expense	$	10,380	$	8,093	$	5,592	$	5,579	$	5,307

- 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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