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Note 4 - Goodwill and Intangible Assets
3 Months Ended
Mar. 31, 2012
Goodwill and Intangible Assets Disclosure [Text Block]
4.     GOODWILL AND INTANGIBLE ASSETS

Goodwill

Our recorded goodwill by reporting segment was as follows at March 31, 2012 and December 31, 2011 (in millions):

   
2012
   
2011
 
Energy and Mining
  $ 76.4     $ 77.4  
North American Water and Wastewater
    101.9       101.8  
European Water and Wastewater
    22.4       21.8  
Asia-Pacific Water and Wastewater
    5.8       5.7  
Commercial and Structural
    44.8       43.2  
Total goodwill
  $ 251.3     $ 249.9  

The following table presents a reconciliation of the beginning and ending balances of the Company’s goodwill at March 31, 2012 and December 31, 2011 (in millions):

   
2012
   
2011
 
Beginning balance (January 1, 2012 and 2011, respectively)
  $ 249.9     $ 190.1  
Additions to goodwill through acquisitions(1)(2)
    0.1       63.7  
Foreign currency translation
    1.3       (3.9 )
Goodwill at end of period(3)
  $ 251.3     $ 249.9  

 
(1)
During the first quarter of 2012, the Company recorded goodwill of $1.7 million related to the acquisition of Fyfe LA and decreases of $1.5 million and $0.2 million in goodwill related to the 2011 acquisitions of Hockway and Fyfe NA.

 
(2)
During the year ended December 31, 2011, the Company recorded goodwill of $18.5 million related to the acquisition of CRTS, $2.0 million related to the acquisition of Hockway and $43.2 million related to the acquisition of Fyfe NA as discussed in Note 1.

 
(3)
The Company does not have any accumulated impairment charges.

Intangible Assets

Intangible assets at March 31, 2012 and December 31, 2011 were as follows (in thousands):

   
As of March 31, 2012 (1)
   
As of December 31, 2011
 
   
Weighted Average Useful Lives (Years)
   
Gross Carrying Amount
   
Accumulated Amortization
   
Net Carrying Amount
   
Gross Carrying Amount
   
Accumulated Amortization
   
Net Carrying Amount
 
License agreements
    8     $ 3,924     $ (2,698 )   $ 1,226     $ 3,922     $ (2,654 )   $ 1,268  
Backlog
    0       4,655       (4,157 )     498       4,651       (3,705 )     946  
Leases
    16       2,067       (120 )     1,947       2,067       (183 )     1,884  
Trademarks
    13       21,418       (2,392 )     19,026       21,396       (2,141 )     19,255  
Non-competes
    0       740       (740 )           740       (729 )     11  
Customer relationships
    16       104,495       (12,541 )     91,954       102,963       (10,970 )     91,993  
Patents and acquired technology
    18       53,889       (19,779 )     34,110       53,906       (19,608 )     34,298  
            $ 191,188     $ (42,427 )   $ 148,761     $ 189,645     $ (39,990 )   $ 149,655  

 
(1)
During the quarter ended March 31, 2012, the Company recorded $1.4 million in customer relationships to be amortized over a weighted average life of twenty years related to the acquisitions discussed in Note 1.

Amortization expense was $2.7 million and $1.2 million for the quarters ended March 31, 2012 and 2011, respectively. Estimated amortization expense by year is as follows (in thousands):

2012
  $ 10,434  
2013
    9,616  
2014
    9,616  
2015
    9,616  
2016
    9,615