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Intangibles

3 Months Ended

Mar. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

INTANGIBLES

The change in the carrying amount of goodwill by segment for the three months ended months ended March 31, 2017 is as follows:



In thousands	Freight Segment				Transit Segment				Total
Balance at December 31, 2016	$	550,902			$	1,527,863			$	2,078,765
Adjustment to preliminary purchase allocation	2,260				48,687				50,947
Acquisitions	35,165				—				35,165
Foreign currency impact	3,343				20,283				23,626
Balance at March 31, 2017	$	591,670			$	1,596,833			$	2,188,503

As of March 31, 2017 and December 31, 2016, the Company’s trade names had a net carrying amount of $525.7 million and $510.5 million, respectively, and the Company believes these intangibles have indefinite lives.

Intangible assets of the Company, other than goodwill and trade names, consist of the following:



In thousands	March 31, 2017				December 31, 2016
Patents, non-compete and other intangibles, net of accumulated
amortization of $43,280 and $42,538	$	13,071			$	15,360
Customer relationships, net of accumulated amortization
of $95,984 and $87,334	550,317				528,068
Total	$	563,388			$	543,428

The weighted average remaining useful life of patents, customer relationships and other intangibles were 10 years, 18 years and 16 years, respectively. Amortization expense for intangible assets was $9.0 million and $5.3 million for the three months ended March 31, 2017, and 2016, respectively.

Amortization expense for the five succeeding years is estimated to be as follows:



Remainder of 2017	$	25,308
2018	33,328
2019	32,284
2020	30,762
2021	30,774

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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