Goodwill and Intangible Assets

9 Months Ended

Sep. 29, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill and Intangible Assets

Goodwill represents the excess of the cost of an acquisition over the fair value of the net assets acquired. The company tests goodwill and other indefinite-lived intangible assets for impairment annually as of the first day of the fourth quarter, or more frequently if indicators of potential impairment exist.

Goodwill of companies acquired, allocated to the company's business segments, is as follows:

	Global Components			Global ECS			Total
Balance as of December 31, 2017 (a)	$	1,264,869		$	1,205,178		$	2,470,047
Acquisitions and related adjustments	230,237			14,175			244,412
Foreign currency translation adjustment	(30,921		)	(24,203		)	(55,124		)
Balance as of September 29, 2018 (a)	$	1,464,185		$	1,195,150		$	2,659,335

(a) The total carrying value of goodwill for all periods in the table above is reflected net of $1,026,702 of accumulated impairment charges, of which $716,925 was recorded in the global components business segment and $309,777 was recorded in the global enterprise computing solutions business segment.

Intangible assets, net, are comprised of the following as of September 29, 2018:

	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizable trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	421,640		(212,241		)	209,399
Developed technology	5 years	6,340		(3,994		)	2,346
Amortizable trade name	5 years	2,407		(1,680		)	727
		$	531,387	$	(217,915	)	$	313,472

Intangible assets, net, are comprised of the following as of December 31, 2017:

	Weighted-Average Life	Gross Carrying Amount		Accumulated Amortization			Net
Non-amortizable trade names	indefinite	$	101,000	$	—		$	101,000
Customer relationships	10 years	440,167		(259,337		)	180,830
Developed technology	5 years	6,340		(3,043		)	3,297
Amortizable trade name	5 years	2,409		(1,321		)	1,088
		$	549,916	$	(263,701	)	$	286,215

During the third quarter of 2018 and 2017, the company recorded amortization expense related to identifiable intangible assets of $11,620 and $12,645, respectively. During the first nine months of 2018 and 2017, amortization expense related to identifiable intangible assets was $37,095 and $37,909, respectively.