Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2019

Goodwill And Intangible Assets Disclosure [Abstract]

NOTE 4 – Goodwill and Intangible Assets

The table below sets forth the changes in goodwill:

Balance at December 31, 2018	$	132,437
Acquisitions:
Wafer fabrication facility in Greenock, Scotland ^(a)		931
Canyon investment ^(b)		1,443
ERIS investment in Yea-Shin ^(c)		4,320
Foreign currency translation adjustment		(359	)
Balance at June 30, 2019	$	138,772

The increase in goodwill is related to:

(a) The Company’s acquisition accounting for the purchase of a wafer fabrication facility in Greenock, Scotland, (“GFAB”). (See Note 13 for additional information).

(b) The acquisition accounting for the Company’s investment of $3.4 million in Canyon Semiconductor. This investment brings our ownership of Canyon to 51%. During the second quarter of 2019, as a measurement period adjustment, we reduced the amount of goodwill approximately $1.1 million. This reduction in goodwill was related to finalization of the non-controlling interest value. The acquisition accounting is not final as deferred taxes are being finalized. We expect the acquisition accounting to be finalized in the third quarter of 2019.

(c) The acquisition accounting related to Eris’ investment of approximately $6.4 million in Yea-Shin Technology Corporation. During the second quarter of 2019, as a measurement period adjustment, we increased goodwill approximately $4.3 million, related to finalization of deferred taxes. The Company owns approximately 51% of Eris and Eris owns approximately 60% of Yea-Shin.

The table below sets forth the value of intangible assets, other than goodwill:

	June 30,			December 31,
	2019			2018
Intangible assets subject to amortization:
Gross carrying amount	$	244,554		$	238,867
Accumulated amortization		(115,430	)		(106,410	)
Foreign currency translation adjustment		(8,262	)		(8,281	)
Total		120,862			124,176
Intangible assets with indefinite lives:
Gross carrying amount		10,303			14,883
Foreign currency translation adjustment		(1,130	)		(1,124	)
Total		9,173			13,759
Total intangible assets, net	$	130,035		$	137,935

The table below sets forth amortization expense related to intangible assets subject to amortization:

Amortization expense	2019		2018
Three months ended June 30	$	4,536	$	4,678
Six months ended June 30	$	9,020	$	9,445