Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents a reconciliation of the beginning and ending balances of the Company’s goodwill (in millions):



	Infrastructure Solutions			Corrosion Protection			Energy Services			Total
Balance, December 31, 2015
Goodwill, gross	$	190,525		$	73,345		$	80,246		$	344,116
Accumulated impairment losses	(16,069		)	(45,400		)	(33,527		)	(94,996		)
Goodwill, net	174,456			27,945			46,719			249,120
2016 Activity:
Acquisitions ⁽¹⁾	50,585			—			—			50,585
Foreign currency translation	(1,616		)	530			—			(1,086		)
Balance, December 31, 2016
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 ⁽²⁾	3,355			—			—			3,355
Impairments ⁽³⁾	(45,390		)	—			—			(45,390		)
Foreign currency translation	3,637			494			—			4,131
Balance, December 31, 2017
Goodwill, gross	246,486			74,369			80,246			401,101
Accumulated impairment losses	(61,459		)	(45,400		)	(33,527		)	(140,386		)
Goodwill, net	$	185,027		$	28,969		$	46,719		$	260,715

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⁽¹⁾	During 2016 , the Company recorded goodwill of $44.0 million, $2.4 million, $0.8 million and $3.4 million related to the acquisitions of Underground Solutions, Fyfe Europe, LMJ and Concrete Solutions, respectively (see Note 1)


⁽²⁾	During 2017, the Company recorded goodwill of $3.4 million related to the acquisition of Environmental Techniques (see Note 1).


⁽³⁾	During 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).

Intangible Assets

Intangible assets were as follows (in thousands):



	December 31, 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	10.5	$	4,497	$	(3,623	)	$	874	$	4,418	$	(3,438	)	$	980
Leases	3.0	796		(534		)	262		2,065		(912		)	1,153
Trademarks ⁽¹⁾⁽²⁾	10.5	15,464		(6,184		)	9,280		24,185		(7,868		)	16,317
Non-competes	1.7	1,197		(1,048		)	149		1,308		(1,054		)	254
Customer relationships ⁽¹⁾⁽²⁾	9.9	160,423		(56,907		)	103,516		187,554		(53,830		)	133,724
Patents and acquired technology ⁽²⁾⁽³⁾	6.1	39,285		(21,021		)	18,264		66,222		(23,739		)	42,483
		$	221,662	$	(89,317	)	$	132,345	$	285,752	$	(90,841	)	$	194,911

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⁽¹⁾	During 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 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).


⁽³⁾	During 2017, the Company wrote off $5.3 million related to certain patents abandoned as part of the 2017 Restructuring (see Note 3).

Amortization expense was $16.1 million, $16.4 million and $13.2 million for the years ended December 31, 2017, 2016 and 2015, respectively. Estimated amortization expense by year is as follows (in thousands):



Year	Amount
2018	$	13,733
2019	13,569
2020	13,496
2021	13,328
2022	13,328

- 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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