Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

7. Goodwill and Other Intangible Assets

The following table provides the changes in carrying value of goodwill by segment for the nine months ended September 30, 2013:



	Communication Technologies		Energy			Engineered Systems			Printing & Identification		Total
Balance at December 31, 2012	$	1,204,295	$	760,637		$	1,403,381		$	746,337	$	4,114,650
Acquisitions	—		24,774			19,032			5,073		48,879
Purchase price adjustments	—		(2,277		)	(9,146		)	—		(11,423		)
Foreign currency translation	9,026		(3,528		)	757			349		6,604
Balance at September 30, 2013	$	1,213,321	$	779,606		$	1,414,024		$	751,759	$	4,158,710

During the nine months ended September 30, 2013, the Company recorded adjustments totaling $11,423 to goodwill relating primarily to the finalization of the purchase price allocation to assets acquired and liabilities assumed for the 2012 acquisitions of Maag Pump Systems, Anthony International, and UPCO, Inc.

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



	September 30, 2013				December 31, 2012
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortized intangible assets:
Trademarks	$	127,336	$	33,055	$	124,129	$	25,364
Patents	194,469		116,509		180,427		105,369
Customer Intangibles	1,635,546		577,602		1,585,041		474,309
Unpatented Technologies	146,070		97,835		146,025		85,373
Drawings & Manuals	34,362		10,564		34,120		8,035
Distributor Relationships	72,514		34,498		72,514		31,650
Other	31,933		21,293		32,221		20,815
Total	2,242,230		891,356		2,174,477		750,915
Unamortized intangible assets:
Trademarks	201,877				201,858
Total intangible assets, net	$	1,552,751			$	1,625,420

Amortization expense totaled $46,894 and $39,502 for the three months ended September 30, 2013 and 2012, respectively. For the nine months ended September 30, 2013 and 2012, amortization expense was $138,967 and $112,998, respectively.

- 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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