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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2012
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES The Company performs an annual impairment test of goodwill and indefinite-lived intangible assets in the fourth quarter using the same dates each year or more frequently if changes in circumstances or the occurrence of events indicate potential impairment. The fair value of each indefinite-lived intangible asset is compared to its carrying value and an impairment charge is recorded if the carrying value exceeds the fair value. Goodwill is tested by comparing the fair value of each reporting unit with its carrying value. If the carrying value of the reporting unit exceeds its fair value, the implied value of goodwill is compared to its carrying value and impairment is recognized to the extent that the carrying value exceeds the implied fair value. Fair values are determined using established business valuation multiples and models developed by the Company that incorporate allocations of certain assets and cash flows among reporting units, estimates of market participant assumptions of future cash flows, future growth rates and the applicable discount rates to value estimated cash flows. Changes in economic and operating conditions impacting these assumptions could result in asset impairments in future periods. The Company's annual impairment test of goodwill and indefinite-lived intangible assets in 2012 resulted in no impairment loss being recognized. The changes in the carrying amount of goodwill by reportable segment for the years ended December 31, 2012 and 2011 were as follows:
|  | North America Welding |  | Europe Welding |  | Asia Pacific Welding |  | South America Welding |  | The Harris Products Group |  | Consolidated
Balance as of January 1, 2011 |  | $ | 5,069 |  |  | $ | 16,379 |  |  | $ | 5,030 |  |  | $ | 565 |  |  | $ | 18,909 |  |  | $ | 45,952 |
Additions and adjustments |  | 13,478 |  | 9,543 |  |  | — |  |  | — |  |  | (1,247 | ) |  | 21,774 |
Foreign currency translation |  | (33) |  | (2,055 | ) |  | 178 |  |  | (4 | ) |  | (711 | ) |  | (2,625 | )
Balance as of December 31, 2011 |  | 18,514 |  |  | 23,867 |  |  | 5,208 |  |  | 561 |  |  | 16,951 |  |  | 65,101 |
Additions and adjustments |  | 67,740 |  | 66 |  |  | — |  |  | — |  |  | (1,109 | ) |  | 66,697 |
Foreign currency translation |  | 23 |  | 1,424 |  |  | 40 |  |  | 53 |  |  | (435 | ) |  | 1,105 |
Balance as of December 31, 2012 |  | $ | 86,277 |  |  | $ | 25,357 |  |  | $ | 5,248 |  |  | $ | 614 |  |  | $ | 15,407 |  |  | $ | 132,903 |
Additions to goodwill primarily reflect goodwill recognized in the acquisitions of Weartech, Wayne Trail, Kaliburn and Tenn Rand in 2012 and the acquisitions of Arc Products, Severstal, Torchmate and Techalloy in 2011 (see Note 3). Reductions to goodwill result from the tax benefit attributable to the amortization of tax deductible goodwill in excess of goodwill recorded for financial reporting purposes. Gross and net intangible assets other than goodwill by asset class as of December 31, 2012 and 2011 were as follows:
|  |  |  | December 31, 2012
|  | Weighted Average Life |  | Gross Amount |  | Accumulated Amortization |  | Indefinite Lived Assets |  | Total Intangible, Net
Trademarks and trade names |  | 12 |  | $ | 30,611 |  |  | $ | 9,493 |  |  | $ | 18,276 |  |  | $ | 39,394 |
Customer relationships |  | 16 |  | 63,906 |  |  | 12,099 |  |  | — |  |  | 51,807 |
Patents |  | 19 |  | 20,882 |  |  | 5,103 |  |  | — |  |  | 15,779 |
Other |  | 14 |  | 44,769 |  |  | 18,847 |  |  | — |  |  | 25,922 |
Total |  |  |  | $ | 160,168 |  |  | $ | 45,542 |  |  | $ | 18,276 |  |  | $ | 132,902 |
|  | December 31, 2011
|  | Gross Amount |  | Accumulated Amortization |  | Indefinite Lived Assets |  | Total Intangible, Net
Trademarks and trade names |  | $ | 18,559 |  |  | $ | 8,020 |  |  | $ | 18,081 |  |  | $ | 28,620 |
Customer relationships |  | 40,818 |  |  | 7,875 |  |  | — |  |  | 32,943 |
Patents |  | 18,677 |  |  | 3,927 |  |  | — |  |  | 14,750 |
Other |  | 33,148 |  |  | 14,990 |  |  | — |  |  | 18,158 |
Total |  | $ | 111,202 |  |  | $ | 34,812 |  |  | $ | 18,081 |  |  | $ | 94,471 |
Additions to gross and net intangible assets primarily reflect assets and related amortization recognized in the acquisitions of Weartech, Wayne Trail, Kaliburn and Tenn Rand in 2012. Aggregate amortization expense was $10,641, $6,661 and $5,390 for 2012, 2011 and 2010, respectively. Estimated annual amortization expense for intangible assets for each of the next five years is $12,282 in 2013, $10,512 in 2014, $10,099 in 2015, $9,320 in 2016 and $8,816 in 2017.

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- 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 Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16265-109275 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=7658586&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 42, 43, 44, 45, 46, 47 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13854-109267 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=14024403&loc=d3e13816-109267 + Details
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