Quarterly report pursuant to Section 13 or 15(d)

Goodwill and Intangibles

v3.19.2
Goodwill and Intangibles
 6 Months Ended
Jun. 29, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles [Text Block] Goodwill and Other Intangibles

Changes in the Company's goodwill during the six months ended June 29, 2019, by segment, are summarized below:
(in millions)
December 31,
2018
 
Acquisitions
 
Impairments
 
Adjustments
 
June 29,
2019
Marine Engine
$
375.1

 
$
—

 
$
—

 
$
7.4

 
$
382.5

Boat
2.2

 
26.0

 
—

 
—

 
28.2

    Total
$
377.3

 
$
26.0

 
$
—

 
$
7.4

 
$
410.7

  
Changes in the Company's goodwill during the six months ended June 30, 2018, by segment, are summarized below:
(in millions)
December 31,
2017
 
Acquisitions
 
Impairments
 
Adjustments
 
June 30,
2018
Marine Engine
$
31.7

 
$
—

 
$
—

 
$
(0.4
)
 
$
31.3

Boat
2.2

 
—

 
—

 
—

 
2.2

    Total
$
33.9

 
$
—

 
$
—

 
$
(0.4
)
 
$
33.5



Adjustments for the six months ended June 29, 2019 mainly relate to refining purchase accounting related to the Power Products acquisition. See Note 5 – Acquisitions for further details on the Company's acquisitions. Adjustments in both periods include the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar.
 
There was no accumulated impairment loss on Goodwill as of June 29, 2019, December 31, 2018 and June 30, 2018.

The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of June 29, 2019, December 31, 2018 and June 30, 2018, are summarized by intangible asset type below:
 
June 29, 2019
 
December 31, 2018
 
June 30, 2018
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
  Customer relationships
$
686.9

 
$
(258.8
)
 
$
675.7

 
$
(243.3
)
 
$
246.0

 
$
(230.3
)
  Trade names
165.8

 
—

 
152.5

 
—

 
41.7

 
—

  Other
18.3

 
(12.8
)
 
13.5

 
(12.6
)
 
13.5

 
(12.4
)
    Total
$
871.0

 
$
(271.6
)
 
$
841.7

 
$
(255.9
)
 
$
301.2

 
$
(242.7
)


The Company's intangible assets, included within Other intangibles, net on the Condensed Consolidated Balance Sheets as of June 29, 2019, December 31, 2018 and June 30, 2018, are summarized by segment below:
 
June 29, 2019
 
December 31, 2018
 
June 30, 2018
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
 
 
 
 
  Marine Engine
$
618.5

 
$
(67.3
)
 
$
618.3

 
$
(52.0
)
 
$
77.8

 
$
(39.3
)
  Boat
252.5

 
(204.3
)
 
223.4

 
(203.9
)
 
223.4

 
(203.4
)
    Total
$
871.0

 
$
(271.6
)
 
$
841.7

 
$
(255.9
)
 
$
301.2

 
$
(242.7
)


Other intangible assets primarily consist of patents and franchise agreements. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $7.8 million and $15.7 million for the three months and six months ended June 29, 2019, respectively. Aggregate amortization expense for intangibles was $0.7 million and $1.4 million for the three months and six months ended June 30, 2018, respectively.