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Goodwill and Other Intangible Assets, Net (Tables)
3 Months Ended
Mar. 30, 2014
Changes in Carrying Amount of Goodwill, by Reporting Segment

The following table provides information relating to changes in the carrying amount of goodwill by reportable segment for the three months ended March 30, 2014:

 

 

Vascular

North America

 

 

Anesthesia/

Respiratory

North America

 

 

Surgical

North America

 

 

EMEA

 

 

Asia

 

 

All

Other

 

 

Total

 

 

(Dollars in thousands)

 

Balance as of December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

$

474,044

 

 

$

167,195

 

 

$

250,506

 

 

$

373,417

 

 

$

136,946

 

 

$

284,223

 

 

$

1,686,331

 

Accumulated impairment

   losses

 

(219,527

)

 

 

(107,073

)

 

 

 

 

 

 

 

 

 

 

 

(5,528

)

 

 

(332,128

)

 

 

254,517

 

 

 

60,122

 

 

 

250,506

 

 

 

373,417

 

 

 

136,946

 

 

 

278,695

 

 

 

1,354,203

 

Goodwill related to

   acquisitions

 

 

 

 

 

 

 

 

 

 

 

 

 

15,986

 

 

 

 

 

 

15,986

 

Translation adjustment

 

 

 

 

(402

)

 

 

 

 

 

1,615

 

 

 

1,099

 

 

 

(443

)

 

 

1,869

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance as of March 30, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

474,044

 

 

 

166,793

 

 

 

250,506

 

 

 

375,032

 

 

 

154,031

 

 

 

283,780

 

 

 

1,704,186

 

Accumulated impairment

   losses

 

(219,527

)

 

 

(107,073

)

 

 

 

 

 

 

 

 

 

 

 

(5,528

)

 

 

(332,128

)

 

$

254,517

 

 

$

59,720

 

 

$

250,506

 

 

$

375,032

 

 

$

154,031

 

 

$

278,252

 

 

$

1,372,058

 

 

Components of Intangible Assets

The following table provides information as of March 30, 2014 and December 31, 2013 regarding the gross carrying amount of, and accumulated amortization relating to, intangible assets, net:

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

March 30,

2014

 

 

December 31,

2013

 

 

March 30,

2014

 

 

December 31,

2013

 

 

(Dollars in thousands)

 

Customer relationships

$

638,476

 

 

$

628,020

 

 

$

(176,053

)

 

$

(168,223

)

In-process research and development

 

68,786

 

 

 

68,786

 

 

 

 

 

 

 

Intellectual property

 

436,189

 

 

 

435,869

 

 

 

(125,872

)

 

 

(118,086

)

Distribution rights

 

16,863

 

 

 

16,797

 

 

 

(14,743

)

 

 

(14,592

)

Trade names

 

408,375

 

 

 

407,879

 

 

 

(1,713

)

 

 

(1,148

)

Noncompete agreements

 

337

 

 

 

337

 

 

 

(112

)

 

 

(42

)

 

$

1,569,026

 

 

$

1,557,688

 

 

$

(318,493

)

 

$

(302,091

)

 

Estimated Annual Amortization Expense

Amortization expense related to intangible assets was $16.0 million and $12.4 million for the three months ended March 30, 2014 and March 31, 2013, respectively. Estimated annual amortization expense for the remainder of 2014 and the next five succeeding years is as follows (dollars in thousands):

 

2014

  

$

49,100

  

2015

  

 

55,500

  

2016

  

 

54,500

  

2017

  

 

54,000

  

2018

  

 

53,500

  

2019

  

 

51,000