Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill during the years ended December 31, 2017 and 2016 by reportable segment, as well as other identifiable intangible assets, are summarized as follows (in thousands):



	Goodwill													Other Intangible Assets, Net
	Automotive			Industrial		Business Products			Electrical/ Electronic Materials		Total			Other Intangible Assets, Net
Balance as of January 1, 2016	$	555,003		$	136,079	$	56,499		$	93,001	$	840,582		$	521,213
Additions	56,518			36,267		25,609			901		119,295			139,982
Amortization	—			—		—			—		—			(40,870		)
Foreign currency translation	(3,963		)	247		(8		)	—		(3,724		)	(1,815		)
Balance as of December 31, 2016	607,558			172,593		82,100			93,902		956,153			618,510
Additions	1,089,767			17,921		—			21,498		1,129,186			796,544
Amortization	—			—		—			—		—			(51,993		)
Foreign currency translation	68,183			577		(111		)	—		68,649			37,331
Balance as of December 31, 2017	$	1,765,508		$	191,091	$	81,989		$	115,400	$	2,153,988		$	1,400,392

The gross carrying amounts and accumulated amortization relating to other intangible assets at December 31, 2017 and 2016 is as follows (in thousands):



	2017							2016
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	$	1,251,783	$	(199,741	)	$	1,052,042	$	603,966	$	(150,350	)	$	453,616
Trademarks	369,512		(23,056		)	346,456		180,416		(16,154		)	164,262
Non-competition agreements	6,946		(5,052		)	1,894		5,098		(4,466		)	632
	$	1,628,241	$	(227,849	)	$	1,400,392	$	789,480	$	(170,970	)	$	618,510

Amortization expense for other intangible assets totaled $51,993,000, $40,870,000, and $34,878,000 for the years ended December 31, 2017, 2016, and 2015, respectively. Estimated other intangible assets amortization expense for the succeeding five years is as follows (in thousands):



2018	$	83,564
2019	83,137
2020	82,199
2021	82,044
2022	82,137
	$	413,081

Additions related to the AAG acquisition are discussed further in the acquisitions and equity investments footnote.

- 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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