GOODWILL AND INTANGIBLE ASSETS

Goodwill

As required, the Company performs an annual impairment test of goodwill as of the end of the October fiscal month or more frequently if events or circumstances change that would more likely than not reduce the fair value of its reporting units below their carrying value.

The following table presents changes to goodwill during the six months ended June 30, 2018 (in millions):



	Total			Commercial and Industrial Systems			Climate Solutions			Power Transmission Solutions
Balance as of December 30, 2017	$	1,477.1		$	548.8		$	342.4		$	585.9
Acquisition and Valuation Adjustments	67.6			67.6			—			—
Translation Adjustments	(9.6		)	(5.9		)	(0.8		)	(2.9		)
Balance as of June 30, 2018	$	1,535.1		$	610.5		$	341.6		$	583.0

Cumulative Goodwill Impairment Charges	$	275.7		$	244.8		$	7.7		$	23.2

Intangible Assets

The following table presents intangible assets (in millions):



		June 30, 2018				December 30, 2017
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	744.2	$	270.1	$	720.9	$	249.6
Technology	13	191.6		126.5		192.3		122.8
Trademarks	13	41.2		26.1		32.8		25.7
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
Non-Compete Agreements	8	8.4		8.3		8.5		8.4
		1,002.0		447.6		971.1		423.1
Non-Amortizable Trade Names		122.2		—		122.5		—
		$	1,124.2	$	447.6	$	1,093.6	$	423.1

Amortization expense recorded for the three and six months ended June 30, 2018 was $14.0 million and $27.6 million, respectively. Amortization expense recorded for the three and six months ended July 1, 2017 was $13.9 million and $28.0 million, respectively. Amortization expense for 2018 is estimated to be $55.5 million.

The following table presents future annual amortization for intangible assets (in millions):



Year	Estimated Amortization
2019	$	55.6
2020	52.7
2021	45.3
2022	43.7
2023	43.7