Goodwill represents the excess of the purchase price over the fair value of the net tangible and identifiable intangible assets acquired in a business combination. A summary of the changes in the carrying amount of goodwill by reportable segment is as follows:


(in millions)	Automotive			Industrial		Total
Balance as of May 3, 2025	$	—		$	172.7	$	172.7
Foreign currency translation		—			1.2		1.2
Gross balance		105.9			173.9		279.8
Accumulated impairment		(105.9	)		—		(105.9	)
Balance as of August 2, 2025	$	—		$	173.9	$	173.9

A summary of goodwill by reporting unit is as follows:


(in millions)	August 2, 2025		May 3, 2025
Grakon Industrial	$	124.7	$	124.7
Nordic Lights		47.6		46.4
Other		1.6		1.6
Total	$	173.9	$	172.7

The Company tests goodwill and indefinite-lived intangible assets for impairment on an annual basis as of the beginning of the fourth quarter each fiscal year. In addition, the Company continuously monitors for events and circumstances that could negatively impact the key assumptions used in determining fair value and therefore require interim goodwill impairment testing, including long-term revenue growth projections, profitability, discount rates, volatility in the Company's market capitalization, and general industry, market and macroeconomic conditions. No impairment indicators were identified in the first quarter of fiscal 2026.

Details of identifiable intangible assets are shown below:


	August 2, 2025
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	314.2	$	(107.0	)	$	207.2		13.9
Trade names, patents and technology licenses		77.0		(51.1	)		25.9		6.3
Total amortized intangible assets		391.2		(158.1	)		233.1
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	393.0	$	(158.1	)	$	234.9


	May 3, 2025
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	311.8	$	(102.3	)	$	209.5		14.0
Trade names, patents and technology licenses		76.5		(49.4	)		27.1		6.4
Total amortized intangible assets		388.3		(151.7	)		236.6
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	390.1	$	(151.7	)	$	238.4

Based on the current amount of intangible assets subject to amortization, the estimated aggregate amortization expense for each of the five succeeding fiscal years and thereafter is as follows:


(in millions)
Fiscal Year:
Remainder of fiscal 2026	$	16.2
2027		22.4
2028		20.1
2029		18.9
2030		17.8
Thereafter		137.7
Total	$	233.1