GOODWILL AND OTHER ACQUISITION INTANGIBLES

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Acquisition Intangibles

10. GOODWILL AND OTHER ACQUISITION INTANGIBLES

Following are the changes in goodwill by segment.



	Aerospace Materials		Industrial Materials			In Process Separation			Additive Technologies		Total
Balance at December 31, 2011:	$	219.5	$	14.5		$	52.7		$	27.8	$	314.5
Acquisitions	17.0		167.4			20.8			—		205.2
Foreign currency translation adjustments	0.6		4.9			0.1			—		5.6
Balance at December 31, 2012:	237.1		186.8			73.6			27.8		525.3
Foreign currency translation adjustments	1.1		1.1			(4.7		)	—		(2.5		)
Umeco acquisition adjustments	0.3		2.0			—			—		2.3
Sale of the Industrial Materials distribution product line	—		(3.8		)	—			—		(3.8		)
Balance at December 31, 2013:	$	238.5	$	186.1		$	68.9		$	27.8	$	521.3

In conjunction with our segment realignment discussed in Note 19, we completed a goodwill impairment test in the first quarter of 2013 and concluded that there was no impairment. An additional goodwill impairment test was triggered at the end of the second quarter because of the reduction in the outlook for Industrial Materials’ 2013 financial results, resulting from a deterioration in market conditions in Europe and the after-tax charge of $12.5 related to the sale of the distribution product line, which was part of the Industrial Materials segment. See Note 3 for a further discussion of the sale of the Industrial Materials distribution product line. We again concluded there was no impairment.

In conjunction with our segment realignment, we completed a goodwill impairment test in the first quarter of 2012 and concluded that there was no impairment. In the fourth quarters of 2013, 2012 and 2011, we completed our required annual impairment test and also concluded that there was no impairment.

Other acquisition intangibles consisted of the following major classes:



	Weighted Average Useful Life (years)	Gross Carrying Value				Accumulated Amortization						Net Carrying Value
December 31,	2013	2013		2012		2013			2012			2013		2012
Technology-based	14.5	$	48.6	$	48.6	$	(23.8	)	$	(20.6	)	$	24.8	$	28.0
Marketing-related	10.1	14.3		15.1		(6.5		)	(5.2		)	7.8		9.9
Customer-related	15.8	156.2		163.9		(27.7		)	(18.1		)	128.5		145.8
Total		$	219.1	$	227.6	$	(58.0	)	$	(43.9	)	$	161.1	$	183.7

Amortization of acquisition intangibles for the years ended December 31, 2013, 2012 and 2011 was $14.6, $9.0, and $3.2, respectively. Assuming no change in the gross carrying amount of acquisition intangibles and that the 2013 average exchange rates remain constant, the estimated future amortization expense for the next five years is as follows:



	2014		2015		2016		2017		2018
Intangibles amortization expense	$	14.8	$	14.7	$	14.5	$	13.5	$	11.9

- 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