Goodwill and Intangible Assets, Net

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill at the dates indicated was as follows:



	At June 30,				At December 31,
(in thousands)	2018		2017		2017
North America	$	95,621	$	95,659	$	95,755
Europe	39,365		40,036		39,896
Asia/Pacific	1,412		1,465		1,489
Total	$	136,398	$	137,160	$	137,140

Intangible assets, net, at the dates indicated were as follows:



	At June 30, 2018
	Gross					Net
	Carrying		Accumulated			Carrying
(in thousands)	Amount		Amortization			Amount
North America	$	30,715	$	(15,232	)	$	15,483
Europe	23,884		(12,606		)	11,278
Total	$	54,599	$	(27,838	)	$	26,761



	At June 30, 2017
	Gross					Net
(in thousands)	Carrying Amount		Accumulated Amortization			Carrying Amount
North America	$	33,863	$	(15,786	)	$	18,077
Europe	28,714		(15,987		)	12,727
Total	$	62,577	$	(31,773	)	$	30,804



	At December 31, 2017
	Gross					Net
(in thousands)	Carrying Amount		Accumulated Amortization			Carrying Amount
North America	$	30,775	$	(13,732	)	$	17,043
Europe	23,762		(11,479		)	12,283
Total	$	54,537	$	(25,211	)	$	29,326

Intangible assets consist of definite-lived and indefinite-lived assets. Definite-lived intangible assets include customer relationships, patents, unpatented technology and non-compete agreements. Amortization expense of definite-lived intangible assets during the three months ended June 30, 2018 and 2017 was $1.3 million and $1.7 million, respectively and was $2.6 million and $3.2 million, during the six months ended June 30, 2018 and 2017, respectively. The only indefinite-lived intangible asset, consisting of a trade name, totaled $0.6 million at June 30, 2018.

At June 30, 2018, the estimated future amortization of definite-lived intangible assets was as follows:



(in thousands)

Remaining six months of 2018	$	2,635
2019	5,266
2020	5,235
2021	4,756
2022	2,886
2023	2,082
Thereafter	3,285
	$	26,145

The changes in the carrying amount of goodwill and intangible assets for the six months ended June 30, 2018, were as follows:



				Intangible
(in thousands)	Goodwill			Assets
Balance at December 31, 2017	$	137,140		$	29,326
Reclassifications	—			220
Amortization	—			(2,627		)
Foreign exchange	(742		)	(158		)
Balance at June 30, 2018	$	136,398		$	26,761

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details