Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

The following table summarizes the changes in the Company's carrying value of goodwill by reporting segment for the indicated periods:



	December 31, 2014											September 30, 2015
	Gross Balance		Accumulated Impairment Losses			Impairment			Translation and Other Adjustments			Gross Balance		Accumulated Impairment Losses

GETS	$	35,713	$	(11,051	)	$	(10,380	)	$	—		$	35,713	$	(21,431	)
PSS	44,298		(27,904		)	(10,654		)	(117		)	41,266		(35,643		)
MRI	16,240		(6,666		)	—			(69		)	15,978		(6,473		)
Total goodwill	$	96,251	$	(45,621	)	$	(21,034	)	$	(186	)	$	92,957	$	(63,547	)

The Company performs its annual assessment for impairment of goodwill and other indefinite-lived intangible assets using a measurement date of July 1 of each fiscal year. The Company performs an assessment for impairment of goodwill and other indefinite-lived intangible assets whenever events or circumstances indicate that it is more likely than not that the fair value of a reporting unit or indefinite-lived intangible asset is below its carrying value.

The Company performed its annual assessment as of July 1, 2015 and determined that the carrying values of the Company's PSS EMEA (AndersElite) and GETS Aerospace and Industrial Equipment (GETS AIE) reporting units exceeded their fair values.

The Company estimated the fair values of all reporting units using a discounted cash flow model based on significant unobservable inputs or level 3 inputs of the fair value hierarchy. The key assumption used to determine the fair values was management's estimate of future earnings. Based on the results of these estimations, the Company estimated the fair value of the assets and liabilities for the two reporting units with the assistance of a third-party valuation specialist in order to determine the implied fair values of goodwill. The Company compared the implied fair values of goodwill to the carrying values of goodwill for the two reporting units and recorded an aggregate goodwill impairment charge of $21.0 million to Impairment in the consolidated statements of operations, comprised of $10.7 million and $10.4 million in PSS EMEA and GETS AIE, respectively. The Company did not identify any other reporting units with fair values that were not substantially in excess of their carrying values.

The Company believes it has made reasonable estimates and used reasonable assumptions to calculate the fair value of its reporting units and indefinite-lived intangible assets. If actual future results are not consistent with management's estimates and assumptions, the Company may have to take additional impairment charges in the future.

The following tables summarize the changes in the Company's carrying value of other intangible assets during the indicated periods:



	December 31, 2014										September 30, 2015
	Gross Balance		Accumulated Amortization			Additions		Amortization			Gross Balance		Accumulated Amortization

Intangible assets subject to amortization:
Customer relationships	$	10,300	$	(5,047	)	$	—	$	(572	)	$	10,300	$	(5,619	)
Trademarks	5,100		(680		)	—		(255		)	5,100		(935		)
Non-compete	150		(135		)	—		(15		)	150		(150		)
Reacquired franchise rights	972		(401		)	—		(73		)	972		(474		)
Total intangible assets subject to amortization	16,522		(6,263		)	—		(915		)	16,522		(7,178		)
Indefinite-lived intangible assets:
Trademarks	2,165		—			—		—			2,165		—
Total other intangible assets	$	18,687	$	(6,263	)	$	—	$	(915	)	$	18,687	$	(7,178	)

- 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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