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 three months ended March 30, 2019 (in millions):



	Total			Commercial and Industrial Systems			Climate Solutions		Power Transmission Solutions
Balance as of December 29, 2018	$	1,509.2		$	598.9		$	330.6	$	579.7
Translation Adjustments	(1.8		)	(0.3		)	0.2		(1.7		)
Balance as of March 30, 2019	$	1,507.4		$	598.6		$	330.8	$	578.0

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

Intangible Assets

The following table presents intangible assets (in millions):



		March 30, 2019				December 29, 2018
	Weighted Average Amortization Period (Years)	Gross Value		Accumulated Amortization		Gross Value		Accumulated Amortization
Amortizable Intangible Assets:
Customer Relationships	17	$	694.6	$	274.3	$	708.8	$	272.4
Technology	14	144.7		92.8		144.5		90.1
Trademarks	14	36.1		23.9		37.0		24.2
Patent and Engineering Drawings	5	16.6		16.6		16.6		16.6
Non-Compete Agreements	8	7.3		7.3		7.2		7.2
		899.3		414.9		914.1		410.5
Non-Amortizable Trade Names		121.7		—		121.9		—
		$	1,021.0	$	414.9	$	1,036.0	$	410.5

Intangible Assets, Net of Amortization		$	606.1			$	625.5

Amortization expense recorded for the three months ended March 30, 2019 was $12.8 million. Amortization expense recorded for the three months ended March 31, 2018 was $13.6 million. Amortization expense for fiscal year 2019 is estimated to be $50.9 million. Amortization expense does not include any impairment recognized during the respective periods. The Company recognized impairment of its customer relationships intangible asset of $4.9 million related to the movement of assets to held for sale for the three months ended March 30, 2019.

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



Year	Estimated Amortization
2020	$	47.9
2021	42.7
2022	41.1
2023	41.0
2024	39.9