Goodwill and Acquired Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2011

Goodwill and Acquired Intangible Assets [Abstract]

Changes in the carrying amount of goodwill

The changes in the carrying amount of goodwill during the years ended December 31, 2011 and 2010 are as follows (in thousands of dollars):

				Power
(Thousands of dollars)	Oil Field			Transmission			Total
Balance as of 01/01/10	$	38,018		$	6,983		$	45,001
Goodwill acquired during the period		7,839			331			8,170
Foreign currency translation		5			(165	)		(160	)
Balance as of 12/31/10		45,862			7,149			53,011
Goodwill acquired during the period		179,910			-			179,910
Foreign currency translation		(2	)		13			11
Balance as of 12/31/11	$	225,770		$	7,162		$	232,932

Components of intangible assets

The Company amortizes identifiable intangible assets on a straight-line basis over the periods expected to be benefitted. All of the below intangible assets relate to acquisitions since 2009.  The components of these intangible assets are as follows (in thousands of dollars):

							Weighted
	December 31, 2011						Average
	Gross						Amortization
	Carrying		Accumulated				Period
	Amount		Amortization		Net		(years)
Non-compete agreements and trademarks	$	6,258	$	1,091	$	5,167		5.1
Customer relationships and contracts		72,818		4,572		68,246		9.6
	$	79,076	$	5,663	$	73,413		7.4
							Weighted
	December 31, 2010						Average
	Gross						Amortization
	Carrying		Accumulated				Period
	Amount		Amortization		Net		(years)
Non-compete agreements and trademarks	$	2,550	$	619	$	1,931		6.3
Customer relationships and contracts		15,183		2,375		12,808		10.0
	$	17,733	$	2,994	$	14,739		7.0

Expected amortization expense by year

Amortization expense of intangible assets was approximately $2.7 million, $1.7 million and $1.3 million at December 31, 2011, 2010 and 2009, respectively. Expected amortization expense by year is (in thousands of dollars):

For the year ended 12/31/12	$	10,239
For the year ended 12/31/13		10,047
For the year ended 12/31/14		9,439
For the year ended 12/31/15		9,402
For the year ended 12/31/16		9,311
Thereafter	$	24,975