Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill is reviewed annually for impairment in accordance with U.S. GAAP as of the end of the fourth quarter. The Company uses judgment in assessing whether assets may have become impaired between annual impairment tests. Circumstances that could trigger an interim impairment test include, but are not limited to: the occurrence of a significant change in circumstances, such as continuing adverse business conditions or legal factors; an adverse action or assessment by a regulator; unanticipated competition; loss of key personnel; the likelihood that a reporting unit or significant portion of a reporting unit will be sold or otherwise disposed; or results of testing for recoverability of a significant asset group within a reporting unit. The testing of goodwill for impairment is performed at a level referred to as a reporting unit. Goodwill is allocated to each reporting unit based on the goodwill valued in connection with each business combination consummated within each reporting unit.

The changes in the net carrying amount of goodwill by reportable segment for the three months ended March 31, 2013 were as follows:



(in thousands)
Segment	Balance at January 1, 2013		Foreign Currency Translation Adjustment			Additions		Adjustments			Balance at March 31, 2013		Accumulated Impairment Losses
Joining Materials	$	1,494	$	(8	)	$	—	$	—		$	1,486	$	—
Tubing	1,895		—			—		—			1,895		—
Engineered Materials	47,096		—			—		(454		)	46,642		—
Arlon	9,298		—			—		—			9,298		(1,140		)
	$	59,783	$	(8	)	$	—	$	(454	)	$	59,321	$	(1,140	)

The $0.5 million adjustment to goodwill recorded during the three months ended March 31, 2013 within the Engineered Materials segment is related to final purchase price allocation adjustments, including a final working capital adjustment, associated with the prior year acquisition of Hickman. For additional information, see Note 3 - "Acquisitions."

Other intangible assets as of March 31, 2013 and December 31, 2012 consisted of:



(in thousands)	March 31, 2013							December 31, 2012
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Products and customer relationships	$	39,115	$	(13,877	)	$	25,238	$	38,825	$	(13,232	)	$	25,593
Trademarks, trade names and brand names	5,048		(1,714		)	3,334		5,048		(1,634		)	3,414
Patents and patent applications	4,848		(1,615		)	3,233		4,789		(1,523		)	3,266
Non-compete agreements	906		(816		)	90		906		(809		)	97
Other	1,607		(997		)	610		1,762		(914		)	848
Total	$	51,524	$	(19,019	)	$	32,505	$	51,330	$	(18,112	)	$	33,218

Amortization expense totaled $0.9 million and $0.8 million for the three months ended March 31, 2013 and 2012, respectively.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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