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Intangible Assets, Net
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets, Net

Note 9. Intangible Assets, Net

Intangible assets are tested for impairment when changes in circumstances indicate the carrying value of those assets may not be recoverable. As of December 31, 2017 and 2016, there were no indications of impairment.

As disclosed in Note 3, we added $6.9 million of intangible assets in 2017 related to customer relationships acquired in the Vandalia acquisition with an estimated useful life of 15 years. The following table presents the carrying amount of intangible assets by segment and by major asset class.

 

     Autocam
Precision
Components
Group
     Precision
Engineered
Products
Group
     Total  

Balance as of December 31, 2015

   $ 46,417      $ 233,800      $ 280,217  

Amortization

     (3,533      (22,465      (25,998

Currency impacts

     44        —          44  
  

 

 

    

 

 

    

 

 

 

Balance as of December 31, 2016

   $ 42,928      $ 211,335      $ 254,263  

Additions

     —          6,900        6,900  

Amortization

     (3,481      (19,979      (23,460

Currency impacts

     (1      —          (1
  

 

 

    

 

 

    

 

 

 

Balance as of December 31, 2017

   $ 39,446      $ 198,256      $ 237,702  
  

 

 

    

 

 

    

 

 

 

 

            December 31, 2017      December 31, 2016  
     Estimated Useful
Life in Years
     Gross
Carrying
Value
     Accumulated
Amortization
    Net
Carrying
Value
     Gross
Carrying
Value
     Accumulated
Amortization
    Net
Carrying
Value
 

Customer relationships

     12 - 15      $ 282,030      $ (52,408   $ 229,622      $ 275,130      $ (30,137   $ 244,993  

Other

     1 - 15        19,200        (11,120     8,080        19,217        (9,947     9,270  
     

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Total identified intangible assets

      $ 301,230      $ (63,528   $ 237,702      $ 294,347      $ (40,084   $ 254,263  
     

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

The following table summarizes estimated amortization expense for the next five years:

 

Year Ending December 31,

 

2018

   $ 23,878  

2019

     23,810  

2020

     23,670  

2021

     23,678  

2022

     23,678