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Goodwill and Other Intangible Assets

3 Months Ended

Sep. 30, 2011

Goodwill and Other Intangible Assets [Abstract]

17.	GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill represents the excess of cost over the fair value of the net assets of acquired companies. Goodwill and other intangible assets with indefinite lives are tested at least annually for impairment. We perform our annual impairment tests during the June quarter in connection with our annual planning process, unless there are impairment indicators that warrant a test prior to that. We have noted no impairment indicators warranting additional testing.

A summary the carrying amount of goodwill attributable to each segment, as well as the changes in such, is as follows:


(in thousands)	Industrial		Infrastructure		Total
Goodwill	$	411,945	$	250,225	$	662,170
Accumulated impairment losses		(150,842)		-		(150,842)

Balance as of June 30, 2011	$	261,103	$	250,225	$	511,328

Adjustments	$	76	$	-	$	76
Translation		(9,362)		(1,719)		(11,081)

Change in goodwill		(9,286)		(1,719)		(11,005)

Goodwill		402,659		248,506		651,165
Accumulated impairment losses		(150,842)		-		(150,842)

Balance as of September 30, 2011	$	251,817	$	248,506	$	500,323

The components of our other intangible assets were as follows:


	Estimated		September 30, 2011				June 30, 2011
(in thousands)	Useful Life (in years)		Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Contract-based		4 to 15	$	6,318	$	(5,403)	$	6,349	$	(5,380)
Technology-based and other		4 to 15		38,537		(24,664)		39,743		(25,442)
Customer-related		10 to 20		111,541		(39,191)		113,977		(38,275)
Unpatented technology		30		19,393		(5,720)		19,540		(4,740)
Trademarks		5 to 20		10,759		(5,037)		10,902		(4,875)
Trademarks		Indefinite		38,833		-		40,480		-

Total			$	225,381	$	(80,015)	$	230,991	$	(78,712)

During the three months ended September 30, 2011, we recorded amortization expense of $3.5 million related to our other intangible assets and unfavorable foreign currency translation adjustments of $3.5 million.

- 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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