Goodwill and Intangible Assets

9 Months Ended

Sep. 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)		1,671
ERIS investment in Yea-Shin ^(c)		4,320
Foreign currency translation adjustment		(1,339	)
Balance at September 30, 2019	$	138,020

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 Company’s 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 nine months ended September 30 2019, as a measurement period adjustment, we finalized our acquisition accounting with finalization of the value of non-controlling interest and deferred taxes.

(c) The Company’s 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:

	September 30,			December 31,
	2019			2018
Intangible assets subject to amortization:
Gross carrying amount	$	244,554		$	238,867
Accumulated amortization		(119,949	)		(106,410	)
Foreign currency translation adjustment		(8,271	)		(8,281	)
Total		116,334			124,176
Intangible assets with indefinite lives:
Gross carrying amount		10,303			14,883
Foreign currency translation adjustment		(1,191	)		(1,124	)
Total		9,112			13,759
Total intangible assets, net	$	125,446		$	137,935

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

Amortization expense	2019		2018
Three months ended September 30	$	4,519	$	4,418
Nine months ended September 30	$	13,539	$	13,863