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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
9 Months Ended
Oct. 01, 2011
GOODWILL AND OTHER INTANGIBLE ASSETS 
Schedule of changes in the carrying amount of goodwill, by segment

 

 

 

 

December 31,
2010

 

Goodwill
resulting from
business
combinations

 

Impairments

 

Foreign
Currency
Translation
and other (1)

 

October 1,
2011

 

Flow Technology

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill

 

$

702.7

 

$

3.2

 

$

—

 

$

3.6

 

$

709.5

 

Accumulated impairments

 

—

 

—

 

—

 

—

 

—

 

Goodwill

 

702.7

 

3.2

 

—

 

3.6

 

709.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Test & Measurement

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill

 

434.5

 

16.9

 

—

 

3.3

 

454.7

 

Accumulated impairments

 

(257.0

)

—

 

—

 

(1.7

)

(258.7

)

Goodwill

 

177.5

 

16.9

 

—

 

1.6

 

196.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Thermal Equipment and Services

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill

 

602.6

 

—

 

—

 

4.0

 

606.6

 

Accumulated impairments

 

(114.1

)

—

 

(17.2

)

—

 

(131.3

)

Goodwill

 

488.5

 

—

 

(17.2

)

4.0

 

475.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial Products and Services

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill

 

351.8

 

—

 

—

 

(0.9

)

350.9

 

Accumulated impairments

 

(85.9

)

—

 

—

 

—

 

(85.9

)

Goodwill

 

265.9

 

—

 

—

 

(0.9

)

265.0

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

Gross goodwill

 

2,091.6

 

20.1

 

—

 

10.0

 

2,121.7

 

Accumulated impairments

 

(457.0

)

—

 

(17.2

)

(1.7

)

(475.9

)

Goodwill

 

$

1,634.6

 

$

20.1

 

$

(17.2

)

$

8.3

 

$

1,645.8

 

 

(1)                                  Includes adjustments resulting from recent acquisitions not consummated during the nine months ended October 1, 2011 of ($4.8) and foreign currency translation adjustments totaling $13.1.

Schedule of identifiable intangible assets

 

 

 

 

October 1, 2011

 

December 31, 2010

 

 

 

Gross
Carrying
Value

 

Accumulated
Amortization

 

Net Carrying
Value

 

Gross
Carrying
Value

 

Accumulated
Amortization

 

Net
Carrying
Value

 

Intangible assets with determinable lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

19.3

 

$

(17.3

)

$

2.0

 

$

24.6

 

$

(21.6

)

$

3.0

 

Technology

 

118.0

 

(29.8

)

88.2

 

116.7

 

(23.3

)

93.4

 

Customer relationships

 

261.8

 

(64.4

)

197.4

 

239.7

 

(51.6

)

188.1

 

Other

 

38.5

 

(18.0

)

20.5

 

35.4

 

(13.5

)

21.9

 

 

 

437.6

 

(129.5

)

308.1

 

416.4

 

(110.0

)

306.4

 

Trademarks with indefinite lives (1)

 

407.5

 

—

 

407.5

 

413.1

 

—

 

413.1

 

Total

 

$

845.1

 

$

(129.5

)

$

715.6

 

$

829.5

 

$

(110.0

)

$

719.5

 

 

(1)           Balance at October 1, 2011 reflects impairment charges recorded during the second quarter of 2011 associated with businesses within our Thermal Equipment and Services and Industrial Products and Services segments of $7.5 and $0.8, respectively.