Goodwill and Identifiable Intangible Assets (Tables)

3 Months Ended

Mar. 27, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The table below presents the changes in goodwill by segment for the quarterly period ended March 27, 2015.


	Electronic Systems			Aerospace Systems			Communication Systems		NSS			Consolidated Total
	(in millions)
Balance at December 31, 2014	$	3,773		$	1,730		$	992	$	1,006		$	7,501
Business acquisition⁽¹⁾		—			—			10		—			10
Foreign currency translation adjustments⁽²⁾		(32	)		(16	)		—		(1	)		(49	)

Balance at March 27, 2015	$	3,741		$	1,714		$	1,002	$	1,005		$	7,462

⁽¹⁾	The increase in goodwill for the Communications Systems segment was due to the Miteq business acquisition.

⁽²⁾

The decrease in goodwill presented in the Electronic Systems segment was primarily due to the strengthening of the U.S. dollar against the Euro, the Canadian dollar and the British pound during the quarterly period ended March 27, 2015. The decrease in goodwill presented in the Aerospace Systems segment was due to the strengthening of the U.S. dollar against the Canadian dollar during the quarterly period ended March 27, 2015.

Identifiable Intangible Assets

The table below presents information for the Company’s identifiable intangible assets that are subject to amortization.


			March 27, 2015						December 31, 2014
	Weighted Average Amortization Period		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
	(in years)						(in millions)
Customer contractual relationships		20	$	443	$	269	$	174	$	440	$	262	$	178
Technology		11		169		113		56		165		111		54
Other		18		27		17		10		27		16		11

Total		18	$	639	$	399	$	240	$	632	$	389	$	243

Amortization Expense

The table below presents amortization expense recorded by the Company for its identifiable intangible assets.


	First Quarter Ended
	March 27, 2015		March 28, 2014
	(in millions)
Amortization Expense	$	10	$	10

Estimated Amortization Expense

Based on gross carrying amounts at March 27, 2015, excluding assets held for sale relating to MSI, the Company’s estimate of amortization expense for identifiable intangible assets for the years ending December 31, 2015 through 2019 is presented in the table below.


	Year Ending December 31,
	2015		2016		2017		2018		2019
	(in millions)
Estimated amortization expense	$	37	$	33	$	30	$	26	$	23