Note 4 - Goodwill and Intangible Assets

9 Months Ended

Sep. 30, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identified Intangible Assets

GOODWILL AND IDENTIFIED INTANGIBLE ASSETS

Goodwill and identified intangible assets consist of the following:

Goodwill



(In thousands)
	Energy and Mining			Water and Wastewater			Commercial and Structural			Total
Beginning balance at January 1, 2014	$	153,110		$	130,078		$	65,492		$	348,680
Additions to goodwill through acquisitions ⁽¹⁾	—			—			1,098			1,098
Foreign currency translation	(609		)	(1,845		)	(88		)	(2,542		)
Balance at September 30, 2014	$	152,501		$	128,233		$	66,502		$	347,236

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⁽¹⁾	During the second quarter of 2014, the Company recorded goodwill of $1.1 million related to the 2012 acquisition of Fyfe Asia (see Note 1).

Identified Intangible Assets



(In thousands)		September 30, 2014							December 31, 2013
	Weighted Average Useful Lives (Years)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
License agreements	6	$	3,912	$	(3,094	)	$	818	$	3,917	$	(2,977	)	$	940
Backlog	0	4,736		(4,736		)	—		4,745		(4,745		)	—
Leases	12	2,067		(588		)	1,479		2,067		(477		)	1,590
Trademarks	16	21,648		(4,941		)	16,707		21,394		(4,167		)	17,227
Non-competes	4	1,140		(817		)	323		1,140		(753		)	387
Customer relationships ⁽¹⁾	14	147,704		(12,517		)	135,187		182,703		(28,287		)	154,416
Patents and acquired technology	16	59,152		(23,692		)	35,460		57,419		(22,696		)	34,723
		$	240,359	$	(50,385	)	$	189,974	$	273,385	$	(64,102	)	$	209,283

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⁽¹⁾	During the third quarter of 2014, the Company recorded an intangible asset impairment of $10.9 million related to realignment efforts at Bayou (see Note 2).

Amortization expense was $3.6 million and $3.7 million for the quarters ended September 30, 2014 and 2013, respectively, and $10.6 million and $8.8 million for the nine-month periods ended September 30, 2014 and 2013, respectively. Estimated amortization expense by year is as follows (in thousands):



2014	$	14,224
2015	13,509
2016	13,516
2017	13,469
2018	13,391

- 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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