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 2, 2026	$	—		$	174.9		$	174.9

Gross carrying value as of May 2, 2026		105.9		$	174.9		$	280.8
Foreign currency translation		—			(1.4	)		(1.4	)
Gross carrying value as of August 1, 2026		105.9			173.5			279.4

Accumulated impairment loss as of May 2, 2026		(105.9	)		—			(105.9	)
Foreign currency translation		—			—			—
Accumulated impairment loss as of August 1, 2026		(105.9	)		—			(105.9	)

Net Carrying value as of August 1, 2026	$	—		$	173.5		$	173.5

A summary of goodwill by reporting unit is as follows:


(in millions)	August 1, 2026		May 2, 2026
Grakon Industrial	$	124.5	$	125.1
Nordic Lights		47.4		48.2
Other		1.6		1.6
Total	$	173.5	$	174.9

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 affect 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 2027.

Details of identifiable intangible assets are shown below:


	August 1, 2026
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	313.6	$	(124.0	)	$	189.6		13.0
Trade names, patents and technology licenses		76.9		(56.9	)		20.0		5.8
Total amortized intangible assets		390.5		(180.9	)		209.6
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	392.3	$	(180.9	)	$	211.4


	May 2, 2026
(in millions)	Gross		Accumulated amortization			Net		Weighted average remaining useful life (years)
Amortized intangible assets:
Customer relationships and agreements	$	315.6	$	(120.2	)	$	195.4		13.2
Trade names, patents and technology licenses		77.4		(55.7	)		21.7		5.9
Total amortized intangible assets		393.0		(175.9	)		217.1
Unamortized trade name		1.8		—			1.8
Total other intangible assets	$	394.8	$	(175.9	)	$	218.9

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 2027	$	16.7
2028		18.6
2029		17.3
2030		16.3
2031		15.9
Thereafter		124.8
Total	$	209.6