Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangibles

v3.10.0.1
Goodwill and Other Intangibles
 12 Months Ended
Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles
Goodwill and Other Intangibles

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

 
$
344.2

 
$
—

 
$
(0.8
)
 
$
375.1

Boat
2.2

 
—

 
—

 
—

 
2.2

Fitness
391.4

 
—

 
—

 
(1.6
)
 
389.8

Total
$
425.3

 
$
344.2

 
$
—

 
$
(2.4
)
 
$
767.1


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

 
$
5.5

 
$
—

 
$
1.1

 
$
31.7

Boat
2.2

 
—

 
—

 
—

 
2.2

Fitness
386.5

 
—

 
—

 
4.9

 
391.4

Total
$
413.8

 
$
5.5

 
$
—

 
$
6.0

 
$
425.3



Adjustments in 2018 and 2017 relate to the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. See Note 5 – Acquisitions for further details on the Company's acquisitions.

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

The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2018 and 2017, are summarized by intangible asset type below:
 
2018
 
2017
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
  Customer relationships
$
734.4

 
$
(256.5
)
 
$
305.4

 
$
(238.1
)
Trade names
164.4

 
—

 
75.9

 
—

  Other
22.3

 
(18.2
)
 
22.5

 
(16.6
)
     Total
$
921.1

 
$
(274.7
)
 
$
403.8

 
$
(254.7
)

The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2018 and 2017, are summarized by segment below:
 
2018
 
2017
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
  Marine Engine
$
618.3

 
$
(52.0
)
 
$
78.3

 
$
(38.5
)
Boat
223.4

 
(203.9
)
 
223.3

 
(202.8
)
  Fitness
79.4

 
(18.8
)
 
102.2

 
(13.4
)
     Total
$
921.1

 
$
(274.7
)
 
$
403.8

 
$
(254.7
)


In 2018 and 2017, the Company recorded an impairment charge relating to the Cybex trade name. Refer to Note 4 – Restructuring, Exit, Integration and Impairment Activities for further details.

Other intangible assets primarily consist of patents. See Note 5 – Acquisitions for further details on intangibles acquired during 2018 and 2017. Aggregate amortization expense for intangibles was $20.5 million, $8.4 million and $6.8 million for the years ended December 31, 2018, 2017 and 2016, respectively. Estimated amortization expense for intangible assets is $36.3 million for the year ending December 31, 2019, $35.9 million in 2020, $35.0 million in 2021, $34.1 million in 2022, and $33.4 million in 2023.