Goodwill and Other Intangible Assets
|9 Months Ended|
Sep. 28, 2019
|Goodwill and Intangible Assets Disclosure [Abstract]|
|Goodwill and Other Intangible Assets||
Goodwill amounts by operating segment are summarized as follows:
completed in the third and fourth quarters of 2018, respectively, and purchase price accounting adjustments are finalized as of the current period.
Other intangibles, net, as of September 28, 2019 and December 29, 2018 consist of the following:
The amortization expense for amortizable assets including the adjustments resulting from fluctuations in foreign currency exchange rates was $14,665 and $44,114 for the thirteen and thirty-nine weeks ended September 28, 2019, respectively. Amortization expense for the thirteen and thirty-nine weeks ended September 29, 2018 was $10,437 and $29,872, respectively.
The Company tests goodwill and indefinite-lived intangible assets for impairment annually. Impairment is also tested when events or changes in circumstances indicate that the carrying values of the assets may be greater than their fair values. During the thirteen and thirty-nine weeks ended September 28, 2019 and the thirteen and thirty-nine weeks ended September 29, 2018, the Company did not adjust goodwill to fair values as a result of any impairment analyses. In the thirty-nine weeks ended September 28, 2019, the Company recorded an impairment charge of $2,125 related to the loss on the disposal of our FastKey self-service key duplicating kiosks and related intangible assets. There were no such impairment charges taken in the thirteen weeks ended September 28, 2019 nor the thirteen and thirty-nine weeks ended September 29, 2018.
The entire disclosure for goodwill and intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef