Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2016

Goodwill and Other Intangible Assets [Abstract]

7.	Goodwill and Other Intangible Assets

The carrying value of goodwill by segment was as follows (in thousands):

	Medical & Scientific Imaging			RF Technology			Industrial Technology			Energy Systems & Controls			Total
Balances at December 31, 2015	$	3,039,197		$	1,993,299		$	374,033		$	418,197		$	5,824,726
Goodwill acquired		164,666			-			-			-			164,666
Other		(977	)		2,428			-			-			1,451
Currency translation adjustments		(5,517	)		(10,086	)		(2,539	)		(3,373	)		(21,515	)
Balances at September 30, 2016	$	3,197,369		$	1,985,641		$	371,494		$	414,824		$	5,969,328

Other relates primarily to tax purchase accounting and working capital adjustments for 2015 acquisitions.

Other intangible assets were comprised of (in thousands):

	Cost		Accumulated amortization			Net book value
Assets subject to amortization:
Customer related intangibles	$	2,448,509	$	(602,615	)	$	1,845,894
Unpatented technology		270,170		(117,405	)		152,765
Software		161,201		(44,298	)		116,903
Patents and other protective rights		24,160		(18,659	)		5,501
Backlog		700		(700	)		-
Trade names		595		(122	)		473
Assets not subject to amortization:
Trade names		407,460		-			407,460
Balances at December 31, 2015	$	3,312,795	$	(783,799	)	$	2,528,996
Assets subject to amortization:
Customer related intangibles	$	2,526,659	$	(689,813	)	$	1,836,846
Unpatented technology		296,238		(136,128	)		160,110
Software		174,399		(50,803	)		123,596
Patents and other protective rights		23,840		(19,965	)		3,875
Trade names		6,621		(396	)		6,225
Assets not subject to amortization:
Trade names		410,830		-			410,830
Balances at September 30, 2016	$	3,438,587	$	(897,105	)	$	2,541,482

Amortization expense of other intangible assets was $147,773 and $118,119 during the nine months ended September 30, 2016 and 2015, respectively.

An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2016. The Company expects to perform the annual analysis during the fourth quarter.

- 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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