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Goodwill and Other Intangible Assets
6 Months Ended
Jun. 30, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets
The following table sets forth information for the Company’s goodwill and intangible assets as of the dates indicated (in millions):
 
June 30,
2013
 
December 31,
2012
Amortizing intangible assets: (1)
 
 
 
Gross carrying amount
$
141.2

 
$
129.4

Less: accumulated amortization
(67.0
)
 
(58.5
)
Amortizing intangible assets, net
$
74.2

 
$
70.9

Non-amortizing intangible assets:
 
 
 
Trade names
$
34.9

 
$
34.9

Pre-qualifications
59.6

 
31.3

Non-amortizing intangible assets
$
94.5

 
$
66.2

Goodwill
$
860.2

 
$
826.1

Goodwill and other intangible assets
$
1,028.9

 
$
963.2

(1)Consists principally of customer relationships, backlog, trade names and non-compete agreements with finite lives.
During the second quarter of 2013, the Company acquired Big Country, an oil and gas pipeline and facility construction services company, and Data Cell, a telecommunications infrastructure company. Also during the second quarter, the Company recorded a $2.4 million opening balance sheet adjustment relating to the 2012 acquisition of BLS. In addition, the Company paid and recorded $4.7 million of post-closing purchase price adjustments relating to the 2012 acquisition of DTS during the first quarter of 2013 based on DTS's final closing tangible net worth and net working capital. The acquisition adjustments for BLS and DTS resulted in the revision of comparative financial information as of December 31, 2012. See Note 3 - Acquisitions and Other Investments.
The Company recorded a $6.4 million impairment charge associated with goodwill and other intangible assets of its discontinued Globetec business during the third quarter of 2012. See Note 4 - Discontinued Operations for additional information.
The following table provides a reconciliation of changes in goodwill and other intangible assets for the periods indicated (in millions):

 
 
Other Intangible Assets
 
 
 
Goodwill
 
Non-amortizing
 
Amortizing
 
Total
Balance as of December 31, 2011
$
714.8

 
$
66.2

 
$
44.5

 
$
825.5

Accruals of acquisition-related contingent consideration (a)
$
3.5

 
 
 
 
 
3.5

Amortization expense
 
 
 
 
(5.7
)
 
(5.7
)
Balance as of June 30, 2012
$
718.3

 
$
66.2

 
$
38.8

 
$
823.3

 
 
 
 
 
 
 
 
Balance as of December 31, 2012
$
826.1

 
$
66.2

 
$
70.9

 
$
963.2

Additions from new business combinations
36.8

 
29.6

 
13.2

 
79.6

Accruals of acquisition-related contingent consideration (a)

 
 
 
 
 

Amortization expense
 
 
 
 
(9.4
)
 
(9.4
)
Currency translation adjustments
(2.7
)
 
(1.3
)
 
(0.5
)
 
(4.5
)
Balance as of June 30, 2013
$
860.2

 
$
94.5

 
$
74.2

 
$
1,028.9

(a)
Represents contingent consideration for acquisitions prior to January 1, 2009, which is only accrued as earned, in accordance with U.S. GAAP.
The following table provides a reconciliation of changes in goodwill by reportable segment for the periods indicated (in millions):

Communications
 
Electrical
Transmission
 
Oil and Gas
 
Power
Generation and Industrial
 
Total Goodwill
Balance as of December 31, 2011
$
258.0

 
$
129.5

 
$
209.7

 
$
117.6

 
$
714.8

Accruals of acquisition-related contingent consideration (a)

 

 
3.5

 

 
3.5

Balance as of June 30, 2012
$
258.0

 
$
129.5

 
$
213.2

 
$
117.6

 
$
718.3

 
 
 
 
 
 
 
 
 
 
Balance as of December 31, 2012
$
305.8

 
$
129.5

 
$
273.2

 
$
117.6

 
$
826.1

Additions from new business combinations
5.4

 

 
31.4

 

 
36.8

Currency translation adjustments

 

 
(2.7
)
 

 
(2.7
)
Balance as of June 30, 2013
$
311.2

 
$
129.5

 
$
301.9

 
$
117.6

 
$
860.2

(a) Represents contingent consideration for acquisitions prior to January 1, 2009, which is only accrued as earned, in accordance with U.S. GAAP.
See Note 16 - Segments and Operations by Geographic Area for details pertaining to the Company's reportable segments.