Goodwill and Intangible Assets (Tables)

6 Months Ended

Jan. 01, 2017

The following table summarizes the activity in the Company's goodwill account by segment during the six months ended January 1, 2017 (in thousands):




	Precision Components Group		3DMT Group		Flanges and Fittings Group		Consolidated
Balance, June 30, 2016	$	10,285	$	2,804	$	1,712	$	14,801
Sale of subsidiary (1)		(3,374)		—		—		(3,374)
Balance, January 1, 2017	$	6,911	$	2,804	$	1,712	$	11,427

(1)

During the three months ended October 2, 2016, the Company sold its majority interest in Tekna Seal LLC and recorded a reduction of goodwill of $3.4 million, which is included in income from discontinued operations, net of tax on the condensed consolidated statement of operations (see Note 3, Discontinued Operations, for more information).

Summary of intangible assets

The following table summarizes the Company's intangible assets (in thousands):


	January 1, 2017						June 30, 2016
	Gross						Gross
	Carrying		Accumulated		Net Carrying		Carrying		Accumulated		Net Carrying
Intangible assets:	Amount		Amortization		Amount		Amount		Amortization		Amount
Patents and tradenames	$	3,773	$	(886)	$	2,887	$	3,773	$	(766)	$	3,007
Customer relationships		24,077		(7,225)		16,852		24,077		(6,021)		18,056
Non-compete agreements		3,642		(2,003)		1,639		3,642		(1,639)		2,003
Total	$	31,492	$	(10,114)	$	21,378	$	31,492	$	(8,426)	$	23,066

Schedule of estimated future amortization expense of intangible assets

Estimated future amortization expense for the next five years as of January 1, 2017, is as follows (in thousands):


Fiscal Years	Amount
Remainder of 2017	$	1,688
2018		3,375
2019		3,191
2020		2,643
2021		2,643
Thereafter		7,838
Total	$	21,378