Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles

v3.10.0.1
Goodwill and Intangibles
 9 Months Ended
Sep. 29, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles [Text Block]
Goodwill and Other Intangibles

Changes in the Company's goodwill during the nine months ended September 29, 2018, by segment, are summarized below:
(in millions)
December 31,
2017
 
Acquisitions
 
Impairments
 
Adjustments
 
September 29,
2018
Marine Engine
$
31.7

 
$
344.2

 
$
—

 
$
(0.5
)
 
$
375.4

Boat
2.2

 
—

 
—

 
—

 
2.2

Fitness
391.4

 
—

 
—

 
(0.6
)
 
390.8

    Total
$
425.3

 
$
344.2

 
$
—

 
$
(1.1
)
 
$
768.4

  
Changes in the Company's goodwill during the nine months ended September 30, 2017, by segment, are summarized below:
(in millions)
December 31,
2016
 
Acquisitions
 
Impairments
 
Adjustments
 
September 30,
2017
Marine Engine
$
25.1

 
$
5.8

 
$
—

 
$
1.4

 
$
32.3

Boat
2.2

 
—

 
—

 
—

 
2.2

Fitness
386.5

 
—

 
—

 
5.3

 
391.8

    Total
$
413.8

 
$
5.8

 
$
—

 
$
6.7

 
$
426.3



Adjustments for the nine months ended September 29, 2018 and September 30, 2017 primarily relate to the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. See Note 4 – Acquisitions for further details on the Company's acquisitions.

As of September 29, 2018, December 31, 2017 and September 30, 2017, the Company had no accumulated impairment loss on Goodwill.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of September 29, 2018, December 31, 2017 and September 30, 2017, are summarized by intangible asset type below:
 
September 29, 2018
 
December 31, 2017
 
September 30, 2017
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
  Customer relationships
$
735.0

 
$
(247.9
)
 
$
305.4

 
$
(238.1
)
 
$
305.7

 
$
(236.5
)
  Trade names
178.6

 
—

 
75.9

 
—

 
89.9

 
—

  Patents and other
22.4

 
(17.8
)
 
22.5

 
(16.6
)
 
22.5

 
(16.1
)
    Total
$
936.0

 
$
(265.7
)
 
$
403.8

 
$
(254.7
)
 
$
418.1

 
$
(252.6
)


The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of September 29, 2018, December 31, 2017 and September 30, 2017, are summarized by segment below:
 
September 29, 2018
 
December 31, 2017
 
September 30, 2017
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
  Marine Engine
$
618.9

 
$
(44.5
)
 
$
78.3

 
$
(38.5
)
 
$
78.6

 
$
(38.1
)
  Boat
223.4

 
(203.7
)
 
223.3

 
(202.8
)
 
223.5

 
(202.7
)
  Fitness
93.7

 
(17.5
)
 
102.2

 
(13.4
)
 
116.0

 
(11.8
)
    Total
$
936.0

 
$
(265.7
)
 
$
403.8

 
$
(254.7
)
 
$
418.1

 
$
(252.6
)


In the third quarter of 2018, the Company recorded an impairment charge relating to the Cybex trade name. Refer to Note 5 – Restructuring, Exit, Integration and Impairment Activities for further details.

Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. See Note 4 –Acquisitions for further details on intangibles acquired during 2018. Aggregate amortization expense for intangibles was $6.8 million and $11.2 million for the three months and nine months ended September 29, 2018, respectively. Aggregate amortization expense for intangibles was $2.1 million and $6.2 million for the three months and nine months ended September 30, 2017, respectively.