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Impairment of Long-lived Assets
12 Months Ended
Dec. 31, 2015
Impairment of Long-lived Assets.  
Impairment of Long-lived Assets

Note 18.  Impairment of Long-Lived Assets

 

In 2015, we recorded a $53.3 million impairment charge of long-lived assets primarily related to certain of our energy-related businesses as a result of the impact to our businesses from continued low crude oil prices and the resulting decline in the demand for the products we sell to the energy (oil and gas) market. This included a charge of $17.7 million for property, plant, and equipment directly related to the closure of certain of our energy-related businesses where we anticipate losses on the disposition of certain assets and an impairment charge of $35.6 million related to our intangible assets, net due to the loss of customers and lowered expectations of future profitability. The measurement of these assets at fair value was determined using a combination of discounted cash flow techniques for intangible assets and the market approach for property, plant, and equipment. We recognized an impairment loss of $14.9 million related to one of our trade name intangible assets in 2013. No impairment of long-lived assets was recognized in 2014.