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GOODWILL AND INTANGIBLES | 12 Months Ended
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Dec. 31, 2017
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, 2017 and 2016 were as follows:
|  | Americas Welding |  | International Welding |  | The Harris Products Group |  | Consolidated
Balance as of December 31, 2015 |  | $ | 152,335 |  |  | $ | 23,345 |  |  | $ | 11,824 |  |  | $ | 187,504 |
Additions and adjustments (1)(2) |  | 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 and adjustments (2) |  | (76 | ) |  | — |  |  | (301 | ) |  | (377 | )
Impairment charges (3) |  | (1,091 | ) |  | — |  |  | — |  |  | (1,091 | )
Foreign currency translation |  | 2,048 |  |  | 2,003 |  |  | 80 |  |  | 4,131 |
Balance as of December 31, 2017 |  | $ | 197,259 |  |  | $ | 25,667 |  |  | $ | 11,656 |  |  | $ | 234,582 |
(1) | Additions to Americas Welding reflect goodwill recognized in the acquisition of Vizient in 2016.
(2) | Adjustments to Harris Products Group include the tax benefit attributable to the amortization of tax deductible goodwill in excess of goodwill recorded for financial reporting purposes.
(3) | The Company performed an interim goodwill impairment test, using a combination of income and market valuation approaches, resulting in a non-cash impairment charge to the carrying value of goodwill. The impairment charge is recorded within Rationalization and asset impairment charges in the accompanying Consolidated Statements of Income.
Gross carrying values and accumulated amortization of intangible assets other than goodwill by asset class were as follows:
|  | December 31, 2017 |  | December 31, 2016
|  | Gross Amount |  | Accumulated Amortization |  | Gross Amount |  | Accumulated Amortization
Intangible assets not subject to amortization |  |  |  |  |  |  |  |
Trademarks and trade names |  | $ | 24,235 |  |  |  |  | $ | 17,113 |  |  |
Intangible assets subject to amortization |  |  |  |  |  |  |  |
Trademarks and trade names |  | $ | 41,203 |  |  | $ | 24,147 |  |  | $ | 38,972 |  |  | $ | 20,648 |
Customer relationships |  | 93,139 |  |  | 47,175 |  |  | 91,216 |  |  | 39,033 |
Patents |  | 27,777 |  |  | 12,978 |  |  | 28,073 |  |  | 11,467 |
Other |  | 57,351 |  |  | 31,953 |  |  | 52,071 |  |  | 26,209 |
Total intangible assets subject to amortization |  | $ | 219,470 |  |  | $ | 116,253 |  |  | $ | 210,332 |  |  | $ | 97,357 |
Increases in gross intangible assets reflect the acquisition of Air Liquide Welding in 2017. Aggregate amortization expense was $15,671, $14,525 and $13,296 for 2017, 2016 and 2015, respectively. Estimated annual amortization expense for intangible assets for each of the next five years is $14,856 in 2018, $13,233 in 2019, $12,513 in 2020, $11,467 in 2021 and $10,437 in 2022.

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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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