Goodwill and Other Intangible Assets, Net

9 Months Ended

Sep. 30, 2011

Goodwill and Other Intangible Assets, Net [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

NOTE 12
GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

The following table provides a rollforward of the carrying amount of goodwill for the nine months ended September 30, 2011 by segment.


						MOTION &
	DEFENSE			FLUID		FLOW		TOTAL
Goodwill — 12/31	$	2,156		$	1,634	$	487	$	4,277
Foreign currency		—			2		1		3
Acquisitions		—			190		3		193
Other		(2	)		—		—		(2	)

Goodwill — 9/30	$	2,154		$	1,826	$	491	$	4,471

Other Intangible Assets, Net


	SEPTEMBER 30, 2011							DECEMBER 31, 2010
	GROSS							GROSS
	CARRYING		ACCUMULATED			NET		CARRYING		ACCUMULATED			NET
	AMOUNT		AMORTIZATION			INTANGIBLES		AMOUNT		AMORTIZATION			INTANGIBLES
Customer and distributor relationships	$	903	$	(368	)	$	535	$	855	$	(312	)	$	543
Proprietary technology		144		(42	)		102		109		(35	)		74
Trademarks		36		(13	)		23		35		(10	)		25
Patents and other		29		(20	)		9		32		(18	)		14
Indefinite-lived intangibles		160		—			160		110		—			110

Other Intangible Assets	$	1,272	$	(443	)	$	829	$	1,141	$	(375	)	$	766

Intangible assets related to the acquisition of YSI included $49 of trademarks, $40 of customer relationships and $35 of proprietary technology. The customer relationships are expected to be amortized over a weighted average period of 19 years and the proprietary technology is expected to be amortized over a weighted average period of 18 years. The trademarks have been assigned an indefinite life.

Amortization expense related to finite-lived intangible assets was $23 for both three month periods and $66 and $64 for the nine month periods ended September 30, 2011 and 2010, respectively. Estimated amortization expense for the remaining three months of 2011 and each of the five succeeding years is as follows:


Remaining 2011	$	23
2012		79
2013		64
2014		59
2015		55
2016		52

Total	$	332

- 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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