XML 46 R28.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Rollforward of Goodwill by Reportable Segment
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
Goodwill, gross, as of December 31, 2015
$
414.9

 
$
374.6

 
$
149.9

 
$
117.6

 
$
1,057.0

Accumulated impairment loss (a)

 
(68.5
)
 

 

 
(68.5
)
Goodwill, net, as of December 31, 2015
$
414.9

 
$
306.1

 
$
149.9

 
$
117.6

 
$
988.5

Accruals of acquisition-related contingent consideration, net (b)
5.8

 

 

 

 
5.8

Currency translation adjustments

 
1.6

 

 

 
1.6

Goodwill, net, as of December 31, 2016
$
420.7

 
$
307.7

 
$
149.9

 
$
117.6

 
$
995.9

Additions from new business combinations
45.7

 
74.1

 

 
18.2

 
138.0

Currency translation adjustments

 
3.8

 

 

 
3.8

Goodwill, net, as of December 31, 2017
$
466.4

 
$
385.6

 
$
149.9

 
$
135.8

 
$
1,137.7

Accumulated impairment loss (a)

 
(74.8
)
 

 

 
(74.8
)
Goodwill, gross, as of December 31, 2017
$
466.4

 
$
460.4

 
$
149.9

 
$
135.8

 
$
1,212.5

(a)
Accumulated impairment losses include the effect of currency translation gains and/or losses.
(b)
Represents contingent consideration for acquisitions prior to January 1, 2009, which is accrued as incurred, in accordance with U.S. GAAP.
Rollforward of Other Intangible Assets
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, as of December 31, 2015
$
34.8

 
$
73.4

 
$
195.4

 
$
25.7

 
$
329.3

Accumulated amortization
 
 
 
 
(114.6
)
 
(15.3
)
 
(129.9
)
Other intangible assets, net, as of December 31, 2015
$
34.8

 
$
73.4

 
$
80.8

 
$
10.4

 
$
199.4

Amortization expense
 
 
 
 
(17.9
)
 
(3.4
)
 
(21.3
)
Currency translation adjustments

 
1.2

 
0.3

 
0.1

 
1.6

Other activity
(0.3
)
 

 

 
0.3

 

Other intangible assets, net, as of December 31, 2016
$
34.5

 
$
74.6

 
$
63.2

 
$
7.4

 
$
179.7

Additions from new business combinations

 

 
26.3

 
2.5

 
28.8

Amortization expense
 
 
 
 
(19.3
)
 
(1.6
)
 
(20.9
)
Currency translation adjustments

 
3.0

 
0.4

 
0.1

 
3.5

Other intangible assets, net, as of December 31, 2017
$
34.5

 
$
77.6

 
$
70.6

 
$
8.4

 
$
191.1

Remaining weighted average amortization period (in years)


 
 
 
9
 
8
 
9
(a)
Consists principally of trade names and non-compete agreements.
Schedule of Expected Future Amortization Expense
Expected future amortization expense as of December 31, 2017 is summarized in the following table (in millions):
 
Amortization Expense
2018
$
19.5

2019
13.4

2020
11.0

2021
8.4

2022
6.9

Thereafter
19.8

Total
$
79.0

Schedule of Consideration Paid and Net Assets Acquired, Business Combinations
The following table summarizes the estimated fair values of consideration paid and net assets acquired as of the respective dates of acquisition, as adjusted (in millions):
Acquisition consideration:
2017
Cash
$
117.9

Fair value of contingent consideration (earn-out liability)
93.5

Total consideration transferred
$
211.4

Identifiable assets acquired and liabilities assumed:
 
Current assets, primarily composed of accounts receivable and $2.8 million of cash acquired
$
42.7

Property and equipment
56.7

Amortizing intangible assets
28.8

Other long-term assets
0.5

Current liabilities, including current portion of capital lease obligations and long-term debt
(29.2
)
Long-term debt, including capital lease obligations
(9.9
)
Deferred income taxes
(16.2
)
Total identifiable net assets
$
73.4

Goodwill
$
138.0

Total net assets acquired, including goodwill
$
211.4