Goodwill and Intangible Assets (Notes)

12 Months Ended

Feb. 28, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill is not amortized but is subject to annual impairment tests. Other intangible assets continue to be amortized over their useful lives.

Changes in goodwill by segment during the year are as follows:



Segment	March 1, 2012		Acquisitions		Foreign Exchange Translation			February 28, 2013
	(In thousands)
Galvanizing Services	$	78,053	$	19,923	$	(1,241	)	$	96,735
Electrical and Industrial Products and Services	43,331		32,323		(503		)	75,151
Total	$	121,384	$	52,246	$	(1,744	)	$	171,886



Segment	March 1, 2011		Acquisitions		Foreign Exchange Translation			February 29, 2012
	(In thousands)
Galvanizing Services	$	69,971	$	7,916	$	166		$	78,053
Electrical and Industrial Products and Services	43,492		—		(161		)	43,331
Total	$	113,463	$	7,916	$	5		$	121,384

The Company completes its annual impairment analysis of goodwill on December 31^st of each year. As a result the Company determined that there was no impairment of goodwill.

Intangible assets consisted of the following:



	2013		2012
	(In thousands)
Amortizable intangible assets
Customer related intangibles	$	81,110	$	47,441
Non-compete agreements	5,219		5,314
Trademarks	5,169		2,100
Certifications	253		264
Engineering drawings	24,600		—
Backlog	8,514		953
	124,865		56,072
Less accumulated amortization	21,440		11,537
	$	103,425	$	44,535

Accumulated amortization related to customer related intangibles and non-compete agreements was $11,633,000 and $3,437,000, respectively, at February 28, 2013, and $7,284,000 and $2,584,000, respectively, at February 29, 2012.

The Company recorded amortization expenses for fiscal 2013, 2012 and 2011 in the amount of $9,999,000, $3,740,000 and $3,237,000, respectively. The following table projects the estimated amortization expense for the five succeeding fiscal years and thereafter.



	(In thousands)
2014	$	12,122
2015	11,333
2016	9,052
2017	8,861
2018	8,394
Thereafter	53,663
Total	$	103,425

- 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.

+ References+ Details