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. During the third quarter of 2018, the Company accelerated its plans to exit the Hermetic Climate business. This decision resulted in an impairment charge of $9.5 million for the three and nine months ended September 29, 2018.

The following table presents changes to goodwill during the nine months ended September 29, 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	69.1			69.1			—			—
Less: Impairment Charges	(9.5		)	—			(9.5		)	—
Translation Adjustments	(12.4		)	(6.2		)	(1.0		)	(5.2		)
Balance as of September 29, 2018	$	1,524.3		$	611.7		$	331.9		$	580.7

Cumulative Goodwill Impairment Charges	$	285.2		$	244.8		$	17.2		$	23.2

Intangible Assets

The following table presents intangible assets (in millions):



		September 29, 2018				December 30, 2017
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	16	$	735.4	$	279.2	$	720.9	$	249.6
Technology	13	188.9		128.7		192.3		122.8
Trademarks	13	41.2		26.6		32.8		25.7
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
Non-Compete Agreements	8	8.3		8.2		8.5		8.4
		990.4		459.3		971.1		423.1
Non-Amortizable Trade Names		122.1		—		122.5		—
		$	1,112.5	$	459.3	$	1,093.6	$	423.1

Amortization expense recorded for the three and nine months ended September 29, 2018 was $13.8 million and $41.4 million, respectively. Amortization expense recorded for the three and nine months ended September 30, 2017 was $13.9 million and $41.9 million, respectively. Amortization expense for fiscal year 2018 is estimated to be $54.9 million. Amortization expense does not include any impairment recognized during the respective periods. The Company recognized impairment of its customer relationships and technology intangible assets of $5.5 million and $2.1 million, respectively, related to its decision to exit the Hermetic Climate business for the three and nine months ended September 29, 2018.

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



Year	Estimated Amortization
2019	$	53.6
2020	51.1
2021	44.5
2022	42.8
2023	42.8