Note 3 - Goodwill and Other Purchased Intangible Assets

6 Months Ended

Jun. 27, 2015

Goodwill and Intangible Assets Disclosure [Text Block]

3.	Goodwill and Other Purchased Intangible Assets

Changes in the carrying value of goodwill during the year ended December 27, 2014 and the six-month period ended June 27, 2015 were as follows

(

in thousands

	Goodwill
Balance, December 28, 2013	$	67,983
Impact of currency exchange		(4,851	)
Balance, December 27, 2014		63,132
Impact of currency exchange		(1,837	)
Balance, June 27, 2015	$	61,295

Purchased intangible assets, subject to amortization are as follows

(

in thousands

)

	June 27, 2015						December 27, 2014
	Gross Carrying Amount		Accumulated Amortization		Remaining Useful Life (years)		Gross Carrying Amount		Accumulated Amortization
Rasco technology	$	27,372	$	22,479		1.5	$	29,845	$	22,616
Ismeca technology		28,575		9,095		5.5		27,014		6,879
	$	55,947	$	31,574			$	56,859	$	29,495

Amortization expense related to intangible assets was approximately $1.7 million in the second quarter of fiscal 2015 and $3.5 million in the first six months of fiscal 2015. Amortization expense related to intangible assets was approximately $2.0 million in the second quarter of fiscal 2014 and $4.0 million in the first six months of fiscal 2014. The amounts included in the table above for the period ended June 27, 2015 exclude approximately $1.9 million and $3.9 million, for trade names of Rasco and Ismeca, respectively. For the period ended December 27, 2014 these amounts were approximately $2.1 million and $3.6 million for Rasco and Ismeca, respectively. The trade names were determined to have an indefinite life and are not currently being amortized. Changes in the carrying values of these intangible assets are a result of the impact of fluctuations in currency exchange rates.

- 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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