Long-Lived Assets

9 Months Ended

Sep. 29, 2019

Property, Plant and Equipment [Abstract]

Long-Lived Assets

Long-Lived Assets

Depreciation and Amortization Expense

We recognized depreciation expense of $12.1 million and $37.2 million in the three and nine months ended September 29, 2019, respectively. We recognized depreciation expense of $11.7 million and $35.6 million in the three and nine months ended September 30, 2018, respectively.

We recognized amortization expense related to our intangible assets of $23.4 million and $71.2 million in the three and nine months ended September 29, 2019. We recognized amortization expense related to our intangible assets of $26.2 million and $76.3 million in the three and nine months ended September 30, 2018, respectively.

Impairment

Due to its overall financial performance during the fiscal third quarter and a potential divestiture of the reporting unit, we performed an interim impairment test on the Grass Valley reporting unit, which resulted in a total goodwill and other asset impairment charge of $342.1 million for the three and nine months ended September 29, 2019. The Grass Valley reporting unit is part of our Enterprise Solutions Segment. The impairment charge consisted of impairments to goodwill, customer relationships, and trademarks of $326.1 million, $14.4 million, and $1.6 million, respectively. We determined the estimated fair values of the assets and of the reporting unit by calculating the present values of their estimated future cash flows.