Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4 - Goodwill and Other Intangible Assets

During the fourth quarter of 2015, a pre-tax non-cash goodwill impairment charge of $68.5 million and a pre-tax non-cash indefinite-lived intangible asset impairment charge of $10.1 million were recorded related to a reporting unit with significant revenue concentration in western Canada. Continued volatility in oil and gas prices during 2015 and in the beginning of 2016 has negatively impacted financial performance, expectations and future cash flow projections for this entity. See Note 1 - Business, Basis of Presentation and Significant Accounting Policies for additional discussion.

The following table provides a reconciliation of changes in goodwill by reportable segment for the periods indicated (in millions):



	Communications			Oil and Gas			Electrical Transmission		Power Generation and Industrial		Total Goodwill
Balance, goodwill, as of December 31, 2013	$	326.8		$	307.7		$	149.9	$	117.6	$	902.0
Additions from new business combinations	84.4			100.4			—		—		184.8
Accruals of acquisition-related contingent consideration, net^(a)	6.5			—			—		—		6.5
Currency translation adjustments	—			(10.8		)	—		—		(10.8		)
Balance, goodwill, as of December 31, 2014	$	417.7		$	397.3		$	149.9	$	117.6	$	1,082.5
Accruals of acquisition-related contingent consideration, net^(a)	0.8			—			—		—		0.8
Currency translation adjustments	—			(22.7		)	—		—		(22.7		)
Measurement period adjustments ^(b)	(3.6		)	—			—		—		(3.6		)
Goodwill impairment	—			(68.5		)	—		—		(68.5		)
Balance, goodwill, as of December 31, 2015	$	414.9		$	306.1		$	149.9	$	117.6	$	988.5
Balance, accumulated impairment losses, goodwill, as of December 31, 2015	$	—		$	(68.5	)	$	—	$	—	$	(68.5	)


(a)	Represents contingent consideration for acquisitions prior to January 1, 2009, which is accrued as earned, in accordance with U.S. GAAP.


(b)	Represent adjustments to preliminary estimates of the fair values of net assets acquired within the measurement period. See Note 3 - Acquisitions for discussion of ASU 2015-16, which was adopted in the fourth quarter of 2015.

The following table provides a reconciliation of changes in other intangible assets for the periods indicated (in millions):



	Other Intangible Assets
	Non-amortizing					Amortizing
	Trade Names		Pre-Qualifications			Customer Relationships and Backlog			Other ^(a)			Total
Other intangible assets, gross carrying amount as of December 31, 2013	$	34.8	$	59.4		$	128.4		$	22.5		$	245.1
Accumulated amortization						(67.7		)	(11.8		)	(79.5		)
Other intangible assets, net, as of December 31, 2013	$	34.8	$	59.4		$	60.7		$	10.7		$	165.6
Additions from new business combinations	—		38.7			73.4			4.2			116.3
Amortization expense						(23.2		)	(1.9		)	(25.1		)
Currency translation adjustments	—		(4.8		)	(1.4		)	(0.2		)	(6.4		)
Other intangible assets, net, as of December 31, 2014	$	34.8	$	93.3		$	109.5		$	12.8		$	250.4
Amortization expense						(26.5		)	(1.9		)	(28.4		)
Currency translation adjustments	—		(9.8		)	(2.2		)	(0.5		)	(12.5		)
Intangible asset impairment	—		(10.1		)	—			—			(10.1		)
Other intangible assets, net, as of December 31, 2015	$	34.8	$	73.4		$	80.8		$	10.4		$	199.4
Remaining weighted average amortization period (in years)						11			11			11


(a)	Consists principally of trade names and non-compete agreements.

Amortization expense associated with intangible assets for the years ended December 31, 2015, 2014 and 2013 totaled $28.4 million, $25.1 million and $21.2 million, respectively. Expected future amortization expense associated with amortizing intangible assets as of December 31, 2015 is summarized in the following table (in millions):



	Amortization Expense
2016	$	20.9
2017	16.3
2018	12.7
2019	8.5
2020	7.3
Thereafter	25.5
Total	$	91.2

- 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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