Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the net carrying amount of goodwill by reportable segment for the years ended December 31, 2014 and 2013 were as follows (in thousands):



Segment	Balance at January 1, 2014		Foreign Currency Translation Adjustments			Additions		Adjustments		Balance at December 31, 2014		Accumulated Impairment Losses
Joining Materials	$	16,275	$	(37	)	$	—	$	—	$	16,238	$	—
Tubing	1,895		—			—		—		1,895		—
Building Materials	50,044		—			—		76		50,120		—
Total	$	68,214	$	(37	)	$	—	$	76	$	68,253	$	—



Segment	Balance at January 1, 2013		Foreign Currency Translation Adjustments		Additions		Adjustments			Balance at December 31, 2013		Accumulated Impairment Losses
Joining Materials	$	1,494	$	14	$	14,767	$	—		$	16,275	$	—
Tubing	1,895		—		—		—			1,895		—
Building Materials	47,096		—		3,402		(454		)	50,044		—
Total	$	50,485	$	14	$	18,169	$	(454	)	$	68,214	$	—

The $14.8 million addition to goodwill within the Joining Materials segment during the year ended December 31, 2013 was due to the Company's acquisition of Wolverine Joining, and the $3.4 million addition within the Building Materials segment in 2013 was due to the Company's acquisition of PAM (see Note 4 - "Acquisitions"). The $0.5 million adjustment to goodwill recorded in 2013 within the Building Materials segment is related to final purchase price allocation adjustments, including a final working capital adjustment, associated with the 2012 acquisition of substantially all of the assets of W.P. Hickman Company.

Other intangible assets as of December 31, 2014 and December 31, 2013 consisted of:



(in thousands)	December 31, 2014							December 31, 2013							Weighted-Average Amortization Life (in Years)
	Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net		Weighted-Average Amortization Life (in Years)
Customer relationships	$	31,977	$	(8,524	)	$	23,453	$	32,065	$	(6,553	)	$	25,512	19.7
Trademarks, trade names and brand names	8,419		(2,004		)	6,415		8,401		(1,499		)	6,902		16.2
Patents and patent applications	5,354		(2,229		)	3,125		5,098		(1,865		)	3,233		15.9
Non-compete agreements	709		(671		)	38		906		(839		)	67		8.8
Other	1,358		(1,051		)	307		1,447		(832		)	615		6.6
Total	$	47,817	$	(14,479	)	$	33,338	$	47,917	$	(11,588	)	$	36,329

Amortization expense totaled $3.2 million, $2.7 million and $1.8 million for the years ended December 31, 2014, 2013 and 2012, respectively. The increase in amortization expense during 2014 and 2013 was principally due to the Company's acquisitions of Wolverine Joining and PAM. The estimated amortization expense for each of the five succeeding years and thereafter is as follows:



(in thousands)	Customer Relationships		Trademarks, Trade Names and Brand Names		Patents and Patent Applications		Non-Compete Agreements		Other		Total
2015	$	1,972	$	503	$	356	$	30	$	226	$	3,087
2016	1,972		503		284		8		34		2,801
2017	1,965		383		284		—		37		2,669
2018	1,929		383		284		—		10		2,606
2019	1,929		383		284		—		—		2,596
Thereafter	13,686		4,260		1,633		—		—		19,579
Total	$	23,453	$	6,415	$	3,125	$	38	$	307	$	33,338

- 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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