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SEC Filings

10-Q
NN INC filed this Form 10-Q on 08/14/2017
Entire Document
 


Table of Contents

Note 7. Intangible Assets, Net

The changes in the carrying amount of intangible assets, net, for the six months ended June 30, 2017, are as follows:

 

     Precision
Bearing
Components
Group
     Autocam
Precision
Components
Group
     Precision
Engineered
Products
Group
     Total  

Balance as of December 31, 2016

   $ 1,718      $ 42,928      $ 211,335      $ 255,981  

Amortization

     (104      (1,748      (9,933      (11,785

Currency impacts

     70        (2      —          68  
  

 

 

    

 

 

    

 

 

    

 

 

 

Balance as of June 30, 2017

   $ 1,684      $ 41,178      $ 201,402      $ 244,264  
  

 

 

    

 

 

    

 

 

    

 

 

 

Note 8. Shared-Based Compensation

Share-based compensation expense during the three and six months ended June 30, 2017 and 2016, consisted of the following amounts:

 

     Three Months Ended      Six Months Ended  
     June 30,      June 30,  
     2017      2016      2017      2016  

Stock options

   $ 194      $ 292      $ 575      $ 494  

Restricted stock

     395        710        855        1,358  

Performance share units

     477        482        788        633  
  

 

 

    

 

 

    

 

 

    

 

 

 

Share-based compensation

   $ 1,066      $ 1,484      $ 2,218      $ 2,485  
  

 

 

    

 

 

    

 

 

    

 

 

 

Stock Options

During the six months ended June 30, 2017, we granted 125,700 option awards to officers and certain other key employees. The weighted average grant date fair value of options granted during the six months ended June 30, 2017, was $11.84 per share. The fair value of our options cannot be determined by market value, because our options are not traded in an open market. Accordingly, we utilized the Black Scholes financial pricing model to estimate the fair value. The weighted average assumptions relevant to determining the fair value of the 2017 stock option grants are below:

 

     2017
Stock Option
Awards
 

Term

     6 years  

Risk free interest rate

     2.03

Dividend yield

     1.16

Expected volatility

     56.56

Expected forfeiture rate

     3.00

 

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