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INTANGIBLES

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLES

Goodwill and other intangible assets with indefinite lives are not amortized. Other intangibles with definite lives are amortized on a straight-line basis over their estimated economic lives. Goodwill and indefinite lived intangible assets are reviewed annually during the fourth quarter for impairment (See Note 3 “Summary of Significant Accounting Policies” included herein). Goodwill and indefinite live intangible assets were not impaired at December 31, 2015 and 2014.

The change in the carrying amount of goodwill by segment for the year ended December 31, 2015 is as follows:



		Freight				Transit
In thousands		Segment				Segment				Total
Balance at December 31, 2014		$	515,067			$	347,271			$	862,338
Adjustment to preliminary purchase allocation		(1,210		)		(4,056		)		(5,266		)
Acquisitions		28,964				12,140				41,104
Foreign currency impact		(10,856		)		(28,788		)		(39,644		)
Balance at December 31, 2015		$	531,965			$	326,567			$	858,532

As of December 31, 2015 and 2014, the Company’s trademarks had a net carrying amount of $167.4 million and $170.1 million, respectively, and the Company believes these intangibles have indefinite lives. Intangible assets of the Company, other than goodwill and trademarks, consist of the following:



		December 31,
In thousands		2015				2014
Patents, non-compete and other intangibles, net of accumulated
amortization of $40,936 and $39,780		$	11,403			$	14,722
Customer relationships, net of accumulated amortization
of $70,493 and $56,684		261,751				237,983
Total		$	273,154			$	252,705

The remaining weighted average useful lives of patents, customer relationships and intellectual property were 10 years, 16 years and 14 years respectively. Amortization expense for intangible assets was $21.7 million, $22.4 million, and $17.7 million for the years ended December 31, 2015, 2014, and 2013, respectively.

Estimated amortization expense for the five succeeding years is as follows (in thousands):



2016	$	20,775
2017	18,889
2018	18,146
2019	17,478
2020	17,018

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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