XML 138 R28.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2019
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, 2017
$
466.4

 
$
460.4

 
$
149.9

 
$
135.8

 
$
1,212.5

Accumulated impairment loss (a)
—

 
(74.8
)
 
—

 
—

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

 
$
385.6

 
$
149.9

 
$
135.8

 
$
1,137.7

Additions from new business combinations
—

 
—

 
—

 
9.8

 
9.8

Measurement period adjustments, net (b)
1.4

 
5.7

 
—

 
(2.5
)
 
4.6

Goodwill impairment
—

 
(47.7
)
 
—

 
—

 
(47.7
)
Currency translation adjustments
—

 
(4.0
)
 
—

 
—

 
(4.0
)
Goodwill, net, as of December 31, 2018
$
467.8

 
$
339.6

 
$
149.9

 
$
143.1

 
$
1,100.4

Additions from new business combinations
73.2

 
37.7

 
—

 
9.5

 
120.4

Measurement period adjustments, net (b)
0.3

 
(0.4
)
 
—

 
—

 
(0.1
)
Currency translation adjustments
—

 
0.7

 
—

 
—

 
0.7

Goodwill, net, as of December 31, 2019
$
541.3

 
$
377.6

 
$
149.9

 
$
152.6

 
$
1,221.4

Accumulated impairment loss (a)
—

 
(121.5
)
 
—

 
—

 
(121.5
)
Goodwill, gross, as of December 31, 2019
$
541.3

 
$
499.1

 
$
149.9

 
$
152.6

 
$
1,342.9

(a)
Accumulated impairment losses include the effects of currency translation gains and/or losses.
(b)
Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Rollforward of Other Intangible Assets
The following table provides a reconciliation of changes in other intangible assets, net, 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, 2017
$
34.5

 
$
77.6

 
$
223.0

 
$
21.8

 
$
356.9

Accumulated amortization
 
 
 
 
(152.4
)
 
(13.4
)
 
(165.8
)
Other intangible assets, net, as of December 31, 2017
$
34.5

 
$
77.6

 
$
70.6

 
$
8.4

 
$
191.1

Additions from new business combinations
—

 
—

 
3.3

 
0.3

 
3.6

Measurement period adjustments (b)
—

 
—

 
—

 
(0.7
)
 
(0.7
)
Amortization expense
 
 
 
 
(19.2
)
 
(1.4
)
 
(20.6
)
Currency translation adjustments
—

 
(3.6
)
 
(0.3
)
 
(0.1
)
 
(4.0
)
Other intangible assets, net, as of December 31, 2018
$
34.5

 
$
74.0

 
$
54.4

 
$
6.5

 
$
169.4

Additions from new business combinations
—

 
0.2

 
67.7

 
5.2

 
73.1

Measurement period adjustments (b)
—

 
—

 
(6.7
)
 
(0.2
)
 
(6.9
)
Intangible asset impairment
—

 
(3.3
)
 
—

 
—

 
(3.3
)
Amortization expense
 
 
 
 
(20.2
)
 
(2.8
)
 
(23.0
)
Currency translation adjustments
—

 
2.0

 
0.1

 
0.1

 
2.2

Other intangible assets, net, as of December 31, 2019
$
34.5

 
$
72.9

 
$
95.3

 
$
8.8

 
$
211.5

Remaining weighted average amortization period (in years)


 
 
 
9
 
6
 
9
(a)
Consists principally of trade names and non-compete agreements.
(b)
Represents adjustments to preliminary estimates of fair value within the measurement period of up to one year from the date of acquisition.
Schedule of Expected Future Amortization Expense Expected future amortization expense as of December 31, 2019 is summarized in the following table (in millions):
 
Amortization Expense
2020
$
24.5

2021
18.9

2022
15.5

2023
11.6

2024
8.5

Thereafter
25.1

Total
$
104.1
Schedule of Consideration Paid and Net Assets Acquired, Business Combinations
The following table summarizes the fair values of consideration paid and net assets acquired for the 2019 acquisitions as of the respective dates of acquisition, as adjusted (in millions). Determination of the estimated fair values of the net assets acquired and the estimated contingent consideration and other liabilities for these acquisitions was preliminary as of December 31, 2019; as a result, further adjustments to these estimates may occur.
Acquisition consideration:
2019
Cash, net of cash acquired and other
$
175.0

Estimated fair value of contingent consideration and other liabilities
38.9

Total consideration transferred
$
213.9

Identifiable assets acquired and liabilities assumed:
 
Current assets, primarily composed of accounts receivable
$
90.0

Property and equipment, including finance leases and other long-term assets
55.2

Amortizing intangible assets
66.1

Current liabilities, including current portion of finance lease obligations and long-term debt
(94.1
)
Long-term debt, including finance lease obligations
(2.4
)
Deferred income taxes and other long-term liabilities
(21.3
)
Total identifiable net assets
$
93.5

Goodwill
$
120.4

Total net assets acquired, including goodwill
$
213.9