Intangible Assets

12 Months Ended

Dec. 31, 2011

Intangible Assets [Abstract]

Intangible Assets

Intangible Assets

Intangible assets are summarized as follows (in thousands):

	Weighted Average Estimated Useful Life	December 31,
		2011			2010
Product technology	10 years	$	95,123		$	88,078
Customer relationships	10 years	85,662			85,362
Trademarks and tradename portfolios	14 years	8,197			7,947
Tradename portfolio not subject to amortization	Indefinite	32,076			32,250
Other	4 years	24,530			23,010
Acquired identifiable intangibles		245,588			236,647
Less accumulated amortization		(88,588		)	(66,793		)
Net acquired identifiable intangibles		157,000			169,854
Patents	17 years	4,202			4,277
Less accumulated amortization		(3,478		)	(3,287		)
Net patents		724			990
Acquired in-place leases and other	7 years	12,882			10,881
Less accumulated amortization		(6,166		)	(4,340		)
Net acquired in-place leases and other		6,716			6,541
		$	164,440		$	177,385

During the year ended December 31, 2011, the Company acquired $8.8 million of identifiable intangible assets as part of the acquisition of Aerius Photonics, LLC. and $1.1 million of identifiable intangible assets as part of the acquisition of two other small companies.

The aggregate amortization expense recorded in 2011, 2010 and 2009 was $33.2 million, $25.8 million and $16.4 million, respectively. For intangible assets recorded at December 31, 2011, the estimated future aggregate amortization expense for the years ending December 31, 2012 through 2016 is approximately (in thousands):

2012	$	24,739
2013	22,840
2014	17,873
2015	13,755
2016	9,102

The Company continually monitors for events and changes in circumstances that could indicate that the carrying amounts of the Company’s intangible assets may not be recoverable. When such events or changes in circumstances occur, the Company will assess the recoverability of intangible assets by determining whether the carrying value of such assets will be recovered through their expected future cash flows. If the future undiscounted cash flows are determined to be less than the carrying amount of the intangible assets, the Company will recognize an impairment loss based on the excess of the carrying amount over the fair value of the assets. The Company did not recognize any intangible asset impairment charges in the years ended December 31, 2011, 2010 and 2009.