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Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets Disclosure [Text Block]

5. Goodwill and Other Intangible Assets

Changes in the carrying values of goodwill for the three months ended March 31, 2012, by segment, were as follows (in millions):

	Segment
	Electrical		Power		Total
Balance December 31, 2011	$	453.0	$	274.3	$	727.3
Acquisitions		4.5		-		4.5
Translation adjustments		2.5		0.4		2.9
Balance March 31, 2012	$	460.0	$	274.7	$	734.7

In 2012, the Company completed the acquisition of Cableform for $10.9 million, net of cash received. This acquisition has been accounted for as a business combination and has resulted in the recognition of $4.5 million of goodwill. See also Note 2 – Business Acquisitions.

The carrying value of other intangible assets included in Intangible assets, net in the Condensed Consolidated Balance Sheet is as follows (in millions):

	March 31, 2012				December 31, 2011
			Accumulated				Accumulated
	Gross Amount		Amortization		Gross Amount		Amortization
Definite-lived:
Patents, tradenames and trademarks	$	88.8	$	(19.8)	$	86.6	$	(19.0)
Customer/Agent relationships and other		196.2		(50.3)		192.3		(46.5)
Total		285.0		(70.1)		278.9		(65.5)
Indefinite-lived:
Tradenames and other		56.5		-		56.1		-
Total	$	341.5	$	(70.1)	$	335.0	$	(65.5)

Amortization expense associated with these definite-lived intangible assets was $4.2 million and $4.1 million for the three months ended March 31, 2012 and 2011. Future amortization expense associated with these intangible assets is expected to be $12.4 million for the remainder of 2012, $16.2 million in 2013, $15.6 million in 2014, $14.1 million in 2015, $13.4 million in 2016 and $12.3 million in 2017.

- 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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