GOODWILL AND INTANGIBLE ASSETS

NOTE 4. GOODWILL AND INTANGIBLE ASSETS

Intangible Assets

Intangible Assets consisted of the following:


	Second Quarter of Fiscal 2012							Fiscal Year End 2011
	Gross							Gross
As of	Carrying		Accumulated			Net Carrying		Carrying		Accumulated			Net Carrying
(Dollars in thousands)	Amount		Amortization			Amount		Amount		Amortization			Amount
Developed product technology	$	514,288	$	(224,274	)	$	290,014	$	437,097	$	(193,218	)	$	243,879
Trade names and trademarks		36,886		(20,814	)		16,072		34,563		(18,933	)		15,630
Customer relationships		302,923		(113,267	)		189,656		280,283		(94,573	)		185,710
Distribution rights and other intellectual properties		66,657		(35,542	)		31,115		63,498		(31,926	)		31,572

	$	920,754	$	(393,897	)	$	526,857	$	815,441	$	(338,650	)	$	476,791

The estimated future amortization expense of purchased intangible assets as of the second quarter of fiscal 2012 was as follows:


(Dollars in thousands)
2012 (Remaining)	$	62,554
2013		119,002
2014		96,942
2015		85,053
2016		68,831
Thereafter		94,475

Total	$	526,857

Goodwill

The changes in the carrying amount of goodwill by operating segment for the first two quarters of fiscal 2012 were as follows:


	Engineering and Construction			Field Solutions			Mobile Solutions			Advanced Devices			Total
(Dollars in thousands)
Balance as of fiscal year end 2011	$	697,237		$	68,268		$	508,260		$	23,927		$	1,297,692
Additions due to acquisitions		217,436			—			19,374			1,078			237,888
Purchase price adjustments		3,086			—			497			—			3,583
Foreign currency translation adjustments		(15,095	)		(1,320	)		(181	)		(82	)		(16,678	)

Balance as of the first two quarters of 2012	$	902,664		$	66,948		$	527,950		$	24,923		$	1,522,485

The Company determined the total consideration paid for each of its acquisitions as well as the fair value of the assets acquired and liabilities assumed as of the date of acquisition. For certain acquisitions completed in fiscal 2011 and the first two quarters of fiscal 2012, the fair value of the assets acquired and liabilities assumed are preliminary and may be adjusted as the Company obtains additional information, primarily related to adjustments for the true up of acquired net working capital in accordance with certain purchase agreements, and estimated values of certain net tangible assets and liabilities including tax balances, pending the completion of final studies and analyses. If there are adjustments made for these items the fair value of intangible asset and goodwill could be impacted. Thus the provisional measurements of fair value are subject to change. Such changes could be significant. The Company expects to finalize the valuation of the net tangible and intangible assets as soon as practicable, but not later than one-year from the acquisition date.

- 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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