Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

Goodwill of companies acquired, allocated to the company's business segments, is as follows:



	Global Components			Global ECS		Total
Balance as of December 31, 2016 (a)	$	1,239,741		$	1,152,479	$	2,392,220
Acquisitions and related adjustments	(102		)	—		(102		)
Foreign currency translation adjustment	4,050			8,992		13,042
Balance as of April 1, 2017 (a)	$	1,243,689		$	1,161,471	$	2,405,160


(a)	The total carrying value of goodwill for all periods in the table above is reflected net of $1,018,780 of accumulated impairment charges, of which $716,925 was recorded in the global components business segment and $301,855 was recorded in the global ECS business segment.

Intangible assets, net, are comprised of the following as of April 1, 2017:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	465,655		(246,521		)	219,134
Developed technology	5 years	6,340		(2,092		)	4,248
Other intangible assets	(b)	6,776		(5,238		)	1,538
		$	579,771	$	(253,851	)	$	325,920


(b)	Consists of sales backlog and an amortizable trade name with useful lives ranging from two to five years.

Intangible assets, net, are comprised of the following as of December 31, 2016:



	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	476,176		(247,206		)	228,970
Developed technology	5 years	9,140		(4,435		)	4,705
Other intangible assets	(c)	6,721		(4,514		)	2,207
		$	593,037	$	(256,155	)	$	336,882


(c)	Consists of non-competition agreements, sales backlog, and an amortizable trade name with useful lives ranging from two to five years.

During the first quarter of 2017 and 2016, the company recorded amortization expense related to identifiable intangible assets of $12,900 and $12,913, respectively.