Note 4 - Goodwill and Other Intangible Assets

12 Months Ended

Jan. 02, 2016

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other

Intangible Assets

The amounts for goodwill and changes in the carrying value by business unit segment are as follows at January 2, 2016 and December 27, 2014 (in thousands):

	20 15		Additions (Reductions) (a)			Adjust ments ( c )			20 14		Additions (Reductions) ( b )		Adjust ments ( c )			20 13
Electronics	$	58,246	$	(524	)	$	(1,740	)	$	60,510	$	1,654	$	(1,590	)	$	60,446
Automotive		80,262		1,994			(3,449	)		81,717		—		(3,264	)		84,981
Industrial		51,259		—			(2,770	)		54,029		14,920		(1,928	)		41,037
Total	$	189,767	$	1,470		$	(7,959	)	$	196,256	$	16,574	$	(6,782	)	$	186,464

(a)	Electronics reduction resulted from reclassification of goodwill to customer lists. Automotive addition of $2.0 million resulted from business acquisitions.

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Electronics addition of $1.7 million and Industrial addition of $14.9 million in 2014 resulted from business acquisitions.

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Adjustments reflect the impact of changes in foreign exchange rates.

There were no accumulated goodwill impairment losses at January 2, 2016, December 27, 2014 or December 28, 2013.

The company recorded amortization expense of $11.9 million in 2015, $12.5 million in 2014 and $9.3 million in 2013. The details of other intangible assets and related future amortization expense of existing intangible assets at January 2, 2016 and December 27, 2014 are as follows:

	201 5						2014
(in thousands)	Weighted Average Useful Life		Gross Carrying Value		Accumulated Amortization		Weighted Average Useful Life		Gross Carrying Value		Accumulated Amortization
Patents, licenses and software (a)		11.6	$	61,297	$	41,076		11.7	$	62,378	$	38,738
Distribution network ( a )		12.4		45,564		29,074		12.4		46,850		27,422
Customer lists, trademarks and tradenames ( a )		13.0		81,233		30,534		13.2		80,821		25,246
Tradenames ( b )		—		4,213		—		—		5,030		—
Total		12.4	$	192,307	$	100,684		12.5	$	195,079	$	91,406

(a)	Decrease to gross carrying value in 2015 primarily due to the impact of foreign currency translation adjustments partially offset by the preliminary Sigmar acquisition purchase price allocation discussed in Note 2.

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Tradenames with indefinite lives.

Estimated amortization expense related to intangible assets with definite lives at January 2, 2016 is as follows (in thousands):

2016	$	11,162
2017		10,745
2018		10,628
2019		10,582
2020		10,582
2021 and thereafter		33,711
	$	87,410

- 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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