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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLES | GOODWILL AND INTANGIBLES The changes in the carrying amount of goodwill by reportable segments for the years ended December 31, 2016 and 2015 were as follows:
|  | Americas Welding |  | International Welding |  | The Harris Products Group |  | Consolidated
Balance as of December 31, 2014 |  | $ | 138,192 |  |  | $ | 28,850 |  |  | $ | 13,085 |  |  | $ | 180,127 |
Additions and adjustments |  | 19,700 |  | 3,846 |  |  | (301 | ) |  | 23,245 |
Impairment charges |  | — |  |  | (6,315 | ) |  | — |  |  | (6,315 | )
Foreign currency translation |  | (5,557) |  | (3,036 | ) |  | (960 | ) |  | (9,553 | )
Balance as of December 31, 2015 |  | 152,335 |  |  | 23,345 |  |  | 11,824 |  |  | 187,504 |
Additions and adjustments |  | 43,217 |  | (30 | ) |  | (301 | ) |  | 42,886 |
Foreign currency translation |  | 826 |  | 349 |  |  | 354 |  |  | 1,529 |
Balance as of December 31, 2016 |  | $ | 196,378 |  |  | $ | 23,664 |  |  | $ | 11,877 |  |  | $ | 231,919 |
Additions to goodwill primarily reflect goodwill recognized in the acquisition of Vizient in 2016 and the acquisitions of Rimrock and SWP in 2015 (see Note 3 for additional details). During 2015, the Company determined that for certain long-lived assets of a business unit, the carrying value of the assets exceeded the fair value resulting in impairment (see Note 6 for additional details). This result was considered a possible indication of goodwill impairment, therefore, the Company performed an interim goodwill impairment test, using a combination of income and market valuation approaches resulting in a $6,315 non-cash impairment charge to the carrying value of goodwill. The adjustments to goodwill include the tax benefit attributable to the amortization of tax deductible goodwill in excess of goodwill recorded for financial reporting purposes. Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class as of December 31, 2016 and 2015 were as follows:
|  | December 31, 2016 |  | December 31, 2015
|  | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Intangible assets not subject to amortization |  |  |  |  |  |  |  |
Trademarks and trade names |  | $ | 17,113 |  |  |  |  | $ | 15,919 |  |  |
Intangible assets subject to amortization |  |  |  |  |  |  |  |
Trademarks and trade names |  | $ | 44,372 |  |  | $ | 20,648 |  |  | $ | 36,754 |  |  | $ | 18,243 |
Customer relationships |  | 85,816 |  |  | 39,033 |  |  | 77,590 |  |  | 33,932 |
Patents |  | 28,073 |  |  | 11,467 |  |  | 24,208 |  |  | 6,884 |
Other |  | 52,071 |  |  | 26,209 |  |  | 54,586 |  |  | 29,279 |
Total intangible assets subject to amortization |  | $ | 210,332 |  |  | $ | 97,357 |  |  | $ | 193,138 |  |  | $ | 88,338 |
Increases in gross intangible assets primarily reflect the acquisition of Vizient in 2016 and the acquisitions of Rimrock and SWP in 2015. During 2015, the Company recognized non-cash impairment charges of $3,417 related to trademarks and trade names, customer relationships and other definite lived intangible assets (see Note 6 for additional details). All impairment charges have been recorded within Rationalization and asset impairment charges. During 2016, the Company acquired intangible assets, either individually or as part of a group of assets, with an initial purchase price allocation and weighted-average lives as follows:
|  | Year Ended December 31, 2016
|  | Purchase Price Allocation |  | Weighted Average Life
Acquired intangible assets not subject to amortization |  |  |  |
Trademarks and trade names |  | $ | 989 |  |  |
Acquired intangible assets subject to amortization |  |  |  |
Trademarks and trade names |  | 2,400 |  |  | 15
Customer relationships |  | 14,500 |  |  | 10
Patents |  | 1,458 |  |  | 20
Other |  | 5,920 |  |  | 11
Total acquired intangible assets subject to amortization |  | $ | 24,278 |  |  |
Aggregate amortization expense was $14,525, $13,296 and $13,869 for 2016, 2015 and 2014, respectively. Estimated annual amortization expense for intangible assets for each of the next five years is $14,647 in 2017, $14,129 in 2018, $12,861 in 2019, $12,588 in 2020 and $11,678 in 2021.

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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=66006027&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=66006027&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=66006027&loc=d3e16323-109275 Reference 4: 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=35741047&loc=d3e13816-109267 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=35741047&loc=d3e13854-109267 + Details
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