Goodwill and Intangible Assets |
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Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Goodwill and Intangible Assets | GOODWILL AND INTANGIBLE ASSETS Goodwill As of March 31, 2019 and 2018, goodwill was $1,581.2 million and $1,581.1 million, respectively. The Company performed an annual impairment test of goodwill as of January 1, 2019 and 2018, and we did not identify any impairment. Intangible Assets Intangible assets consisted of the following:
Intangible assets, net include software purchased and developed that was reclassified from property plant and equipment as of March 31, 2019 and 2018, respectively. Intangible assets are generally amortized on an accelerated basis over periods ranging from 3 years to 12 years. The Company performed an annual impairment test of the trade name as of January 1, 2019 and 2018, and did not identify any impairment. However, the Company recognized an impairment charge of $3.8 million in fiscal 2017 for acquired technology, customer relationships and other intangible assets associated with a historical business acquisition. During fiscal 2018, gross carrying value and accumulated amortization were reduced related to fully-amortized intangible assets. Amortization expense for fiscal 2019, 2018, and 2017 was $20.9 million, $20.7 million, and $17.9 million, respectively. The following table summarizes the estimated annual amortization expense for future periods, which does not reflect amortization expense for certain intangible assets that are not yet placed in service, as indicated below:
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