GOODWILL AND INTANGIBLES

12 Months Ended

Dec. 31, 2014

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2014 and 2013 were as follows:



	North America Welding		Europe Welding			Asia Pacific Welding			South America Welding			The Harris Products Group			Consolidated
Balance at December 31, 2012	$	86,277	$	25,357		$	5,248		$	614		$	15,407		$	132,903
Additions and adjustments	44,446		—			—			—			(1,027		)	43,419
Foreign currency translation	(284)		(927		)	111			(52		)	(455		)	(1,607		)
Balance as of December 31, 2013	130,439		24,430			5,359			562			13,925			174,715
Additions and adjustments	18,014		—			(610		)	—			(381		)	17,023
Foreign currency translation	(3,859)		(7,700		)	(97		)	(106		)	(459		)	(12,221		)
Balance as of December 31, 2014	$	144,594	$	16,730		$	4,652		$	456		$	13,085		$	179,517

Additions to goodwill primarily reflect goodwill recognized in the acquisitions of Easom in 2014 and Robolution and Burlington in 2013 (see Note 3). The 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 and amounts reclassified as held for sale assets attributable to a planned divestiture.

Gross and net intangible assets other than goodwill by asset class as of December 31, 2014 and 2013 were as follows:



		December 31, 2014
	Weighted Average Life	Gross Amount		Accumulated Amortization		Indefinite Lived Assets		Total Intangible, Net
Trademarks and trade names	12	$	32,358	$	12,547	$	16,273	$	36,084
Customer relationships	14	70,658		19,923		—		50,735
Patents	20	24,195		6,509		—		17,686
Other	13	54,502		26,646		—		27,856
Total		$	181,713	$	65,625	$	16,273	$	132,361



	December 31, 2013
	Gross Amount		Accumulated Amortization		Indefinite Lived Assets		Total Intangible, Net
Trademarks and trade names	$	38,566	$	11,898	$	18,310	$	44,978
Customer relationships	74,935		16,837		—		58,098
Patents	23,861		6,205		—		17,656
Other	49,578		23,298		—		26,280
Total	$	186,940	$	58,238	$	18,310	$	147,012

Decreases in gross and net intangible assets primarily reflect amounts reclassified as held for sale assets attributable to a planned divestiture and the impairment of intangible assets in 2014 (see Note 6). The Company recognized non-cash impairment losses of $10,484 within Rationalization and asset impairment charges, related to customer relationships, definite and indefinite lived trademarks and other definite lived intangible assets. Aggregate amortization expense was $13,869, $13,342 and $10,641 for 2014, 2013 and 2012, respectively. Estimated annual amortization expense for intangible assets for each of the next five years is $13,837 in 2015, $13,482 in 2016, $12,581 in 2017, $11,939 in 2018 and $11,320 in 2019.

- 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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