Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill and Other Intangible Assets [Abstract]

6.	Goodwill and Other Intangible Assets

The changes in the carrying value of goodwill by segment for the years ended December 31, 2011 and 2010 are as follows:

	Communication Technologies			Energy			Engineered Systems			Printing & Identification			Total
Goodwill	$	802,265		$	335,612		$	987,378		$	1,035,412		$	3,160,667
Accumulated impairment loss		-			-			(70,912	)		-			(70,912	)
Balance at January 1, 2010		802,265			335,612			916,466			1,035,412			3,089,755
Acquisitions		4,435			30,234			5,417			-			40,086
Foreign currency translation		283			2,609			(5,812	)		(6,788	)		(9,708	)
Purchase price adjustment		-			(996	)		(11,659	)		-			(12,655	)
Balance at December 31, 2010		806,983			367,459			904,412			1,028,624			3,107,478
Acquisitions		443,088			257,128			34,048			-			734,264
Foreign currency translation		(45,489	)		(2,252	)		(3,040	)		(3,844	)		(54,625	)
Balance at December 31, 2011	$	1,204,582		$	622,335		$	935,420		$	1,024,780		$	3,787,117

The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets:

	December 31, 2011				December 31, 2010
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortized Intangible Assets:
Trademarks	$	66,428	$	20,518	$	41,712	$	16,664
Patents		145,864		99,990		127,081		92,146
Customer Intangibles		1,171,608		380,196		685,939		290,001
Unpatented Technologies		142,405		98,193		138,780		86,461
Drawings & Manuals		8,165		5,153		6,230		4,326
Distributor Relationships		73,162		28,500		73,183		24,724
Other		28,677		20,251		27,878		18,120
Total		1,636,309		652,801		1,100,803		532,442
Unamortized Intangible Assets:
Trademarks		223,576				230,920
Total Intangible Assets	$	1,859,885	$	652,801	$	1,331,723	$	532,442

Total amortization expense for the years ended December 31, 2011, 2010 and 2009 was $127,146, $89,664 and $84,829, respectively. Amortization expense for the next five years, based on current intangible balances is estimated to be the following:

2012	$	120,359
2013		119,284
2014		111,192
2015		110,650
2016		105,778

- 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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