GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2013 and 2012 were as follows:



	North America Welding		Europe Welding			Asia Pacific Welding		South America Welding			The Harris Products Group			Consolidated
Balance at December 31, 2011	$	18,514	$	23,867		$	5,208	$	561		$	16,951		$	65,101
Additions and adjustments	67,740		66			—		—			(1,109		)	66,697
Foreign currency translation	23		1,424			40		53			(435		)	1,105
Balance as of December 31, 2012	86,277		25,357			5,248		614			15,407			132,903
Additions and adjustments	44,446		—			—		—			(1,027		)	43,419
Foreign currency translation	(284)		(927		)	111		(52		)	(455		)	(1,607		)
Balance as of December 31, 2013	$	130,439	$	24,430		$	5,359	$	562		$	13,925		$	174,715

Additions to goodwill primarily reflect goodwill recognized in the acquisitions of Robolution and Burlington in 2013 and the acquisitions of Weartech, Wayne Trail, Kaliburn and Tenn Rand in 2012 (see Note 3). Reductions to goodwill result from the tax benefit attributable to the amortization of tax deductible goodwill in excess of goodwill recorded for financial reporting purposes.

Gross and net intangible assets other than goodwill by asset class as of December 31, 2013 and 2012 were as follows:



		December 31, 2013
	Weighted Average Life	Gross Amount		Accumulated Amortization		Indefinite Lived Assets		Total Intangible, Net
Trademarks and trade names	12	$	38,566	$	11,898	$	18,310	$	44,978
Customer relationships	14	74,935		16,837		—		58,098
Patents	20	23,861		6,205		—		17,656
Other	14	49,578		23,298		—		26,280
Total		$	186,940	$	58,238	$	18,310	$	147,012



	December 31, 2012
	Gross Amount		Accumulated Amortization		Indefinite Lived Assets		Total Intangible, Net
Trademarks and trade names	$	30,611	$	9,493	$	18,276	$	39,394
Customer relationships	63,906		12,099		—		51,807
Patents	20,882		5,103		—		15,779
Other	44,769		18,847		—		25,922
Total	$	160,168	$	45,542	$	18,276	$	132,902

Additions to gross and net intangible assets primarily reflect assets and related amortization recognized in the acquisitions of Robolution and Burlington in 2013 and the acquisitions of Weartech, Wayne Trail, Kaliburn and Tenn Rand in 2012. Aggregate amortization expense was $13,342, $10,641 and $6,661 for 2013, 2012 and 2011, respectively. Estimated annual amortization expense for intangible assets for each of the next five years is $15,745 in 2014, $15,337 in 2015, $14,367 in 2016, $12,228 in 2017 and $11,484 in 2018.

- 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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