XML 39 R27.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Identified Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The following table presents a reconciliation of the beginning and ending balances of the Company’s goodwill at January 1, 2017 and September 30, 2017 (in thousands):
 
Infrastructure
Solutions
 
Corrosion
Protection
 
Energy
Services
 
Total
Balance, January 1, 2017:
 
 
 
 
 
 
 
Goodwill, gross
$
239,494

 
$
73,875

 
$
80,246

 
$
393,615

Accumulated impairment losses
(16,069
)
 
(45,400
)
 
(33,527
)
 
(94,996
)
Goodwill, net
223,425

 
28,475

 
46,719

 
298,619

2017 Activity:
 
 
 
 
 
 
 
Acquisitions (1)
3,355

 
—

 
—

 
3,355

Impairments (2)
(45,390
)
 
—

 
—

 
(45,390
)
Foreign currency translation
2,642

 
565

 
—

 
3,207

Balance, September 30, 2017:
 
 
 
 
 
 
 
Goodwill, gross
245,491

 
74,440

 
80,246

 
400,177

Accumulated impairment losses
(61,459
)
 
(45,400
)
 
(33,527
)
 
(140,386
)
Goodwill, net
$
184,032

 
$
29,040

 
$
46,719

 
$
259,791

__________________________
(1) 
During the first nine months of 2017, the Company recorded goodwill of $3.4 million related to the acquisition of Environmental Techniques (see Note 1).
(2) 
During the third quarter of 2017, the Company recorded a $45.4 million goodwill impairment to its Fyfe reporting unit, which is included in the Infrastructure Solutions reportable segment (see Note 2).
Schedule of Identified Intangible Assets
Identified intangible assets consisted of the following (in thousands):
 
 
 
September 30, 2017
 
December 31, 2016
 
Weighted
Average
Useful
Lives
(Years)
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
License agreements
10.3
 
$
4,489

 
$
(3,578
)
 
$
911

 
$
4,418

 
$
(3,438
)
 
$
980

Leases
3.3
 
796

 
(512
)
 
284

 
2,065

 
(912
)
 
1,153

Trademarks (1)(2)
10.5
 
15,448

 
(5,861
)
 
9,587

 
24,185

 
(7,868
)
 
16,317

Non-competes
1.6
 
1,196

 
(1,020
)
 
176

 
1,308

 
(1,054
)
 
254

Customer relationships (1)(2)
10.1
 
160,414

 
(54,184
)
 
106,230

 
187,554

 
(53,830
)
 
133,724

Patents and acquired technology (2)
9.3
 
45,146

 
(21,250
)
 
23,896

 
66,222

 
(23,739
)
 
42,483

 
 
 
$
227,489

 
$
(86,405
)
 
$
141,084

 
$
285,752

 
$
(90,841
)
 
$
194,911


__________________________
(1) 
During the first nine months of 2017, the Company recorded trademarks of $0.1 million and customer relationships of $1.7 million related to the acquisition of Environmental Techniques (see Note 1).
(2) 
During the third quarter of 2017, the Company recorded intangible asset impairments related to restructuring and realignment efforts at Fyfe North America of $3.4 million for trademarks, $20.8 million for customer relationships and $16.8 million for patents and acquired technology (see Note 2).
Schedule of Estimated Amortization Expense
Estimated amortization expense by year is as follows (in thousands):
2017
 
$
16,078

2018
 
14,102

2019
 
13,914

2020
 
13,766

2021
 
13,605