Note 6 - Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Other Intangible Assets

The amounts for goodwill and changes in the carrying value by segment are as follows at

December

31,

2016

and

January

2016:

(in thousands )	2016		Additions (Reductions) (a)			Adjustments (c)			2015		Additions (Reductions) (b)			Adjustments (c)			2014
Electronics	$	215,765	$	162,172		$	(4,653	)	$	58,246	$	(524	)	$	(1,740	)	$	60,510
Automotive		144,585		70,762			(6,439	)		80,262		1,994			(3,449	)		81,717
Industrial		43,194		(8,794	)		729			51,259		—			(2,770	)		54,029
Total	$	403,544	$	224,140		$	(10,363	)	$	189,767	$	1,470		$	(7,959	)	$	196,256

(a)	The net additions of $224,140 resulted primarily from the acquisitions of PolySwitch, ON and Menber’s, partially offset by the impairment of custom products reporting unit goodwill.

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

(c)	Adjustments reflect the impact of changes in foreign exchange rates.

The company recognized a goodwill impairment charge of

$8.8

million in

2016,

but

none

2015

and

2014.

The charge related to the custom products reporting unit in the Industrial segment.

For intangible assets with definite lives, the company recorded amortization expense of

$19.3

million,

$11.9

million, and

$12.5

million in

2016,

2015,

and

2014,

respectively. Additionally for

2016,

the company recognized an impairment charge of

$6.0

million. The details of other intangible assets and related future amortization expense of existing intangible assets at

December

31,

2016

and

January

2016

are as follows:

	2016						2015
(in thousands )	Weighted Average Useful Life		Gross Carrying Value		Accumulated Amortization		Weighted Average Useful Life		Gross Carrying Value		Accumulated Amortization
Patents, licenses and software		11.4	$	131,611	$	48,004		11.6	$	61,297	$	41,076
Distribution network		12.1		49,150		30,155		12.4		45,564		29,074
Customer relationships, trademarks and tradenames		14.4		150,227		40,463		13.0		81,233		30,534
Tradenames(a)		—		4,319		3,659		—		4,213		—
Total		12.9	$	335,307	$	122,281		12.4	$	192,307	$	100,684

(a)	Tradenames with indefinite lives.

Estimated amortization expense related to intangible assets with definite lives at

December

31,

2016

is as follows:

(in thousands )	Estimated Amortization
2017	$	23,945
2018		23,497
2019		23,786
2020		23,242
2021		21,816
2022 and thereafter		96,740
	$	213,026

- 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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