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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2012
Goodwill and Intangible Assets | 7. Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the six months ended June 30, 2012, by reportable business segment, were as follows:
|  | Fluid & Metering Technologies |  |  | Health & Science Technologies |  |  | Fire & Safety/ Diversified Products |  |  | Total |
Balance at December 31, 2011(1) |  | $ | 541,640 |  |  | $ | 648,906 |  |  | $ | 240,820 |  |  | $ | 1,431,366 |
Acquisition adjustments |  |  | — |  |  |  | 1,424 |  |  |  | — |  |  |  | 1,424 |
Foreign currency translation |  |  | (3,527 | ) |  |  | 120 |  |  |  | (4,263 | ) |  |  | (7,670 | )
Acquisition |  |  | — |  |  |  | 25,849 |  |  |  | — |  |  |  | 25,849 |
Balance at June 30, 2012 |  | $ | 538,113 |  |  | $ | 676,299 |  |  | $ | 236,557 |  |  | $ | 1,450,969 |
(1) | Revised to reflect the movement of the Dispensing Equipment segment to the Fire & Safety/Diversified Products segment and the transfer of $20.6 million of goodwill related to the movement of our Trebor business unit within the Health & Science Technologies segment to the Fluid & Metering Technologies segment.
ASC 350 “Goodwill and Other Intangible Assets” requiresthat goodwill be tested for impairment at the reporting unit level on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of the reporting unit below its carrying value. Annually on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. The Company concluded that the fair value of each of the reporting units was in excess of the carrying value as of October 31, 2011. However, as of June 30, 2012 if market conditions deteriorate, the Water reporting unit, the Optics and Photonics reporting unit and the CVI and Melles Griot trade names, could potentially be at risk for an impairment charge. As of June 30, 2012, the total goodwill balance of the Water and the Optics and Photonics reporting units was $217.9 million and $279.4 million, respectively. The following table provides the gross carrying value and accumulated amortization for each major class of intangible asset at June 30, 2012 and December 31, 2011:
|  | At June 30, 2012 |  |  |  |  |  | At December 31, 2011 |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |  |  | Weighted Average Life |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net |
|  | (In thousands) |  |  |  |  |  |  |  |  |  |  |  |  |
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Patents |  | $ | 10,475 |  |  | $ | (3,726 | ) |  | $ | 6,749 |  |  |  | 11 |  |  | $ | 11,506 |  |  | $ | (4,315 | ) |  | $ | 7,191 |
Trade names |  |  | 75,981 |  |  |  | (22,850 | ) |  |  | 53,131 |  |  |  | 17 |  |  |  | 72,823 |  |  |  | (18,205 | ) |  |  | 54,618 |
Customer relationships |  |  | 227,168 |  |  |  | (81,355 | ) |  |  | 145,813 |  |  |  | 10 |  |  |  | 221,076 |  |  |  | (69,280 | ) |  |  | 151,796 |
Non-compete agreements |  |  | 3,196 |  |  |  | (2,708 | ) |  |  | 488 |  |  |  | 2 |  |  |  | 4,801 |  |  |  | (4,053 | ) |  |  | 748 |
Unpatented technology |  |  | 72,532 |  |  |  | (19,670 | ) |  |  | 52,862 |  |  |  | 11 |  |  |  | 70,741 |  |  |  | (15,617 | ) |  |  | 55,124 |
Other |  |  | 6,612 |  |  |  | (3,288 | ) |  |  | 3,324 |  |  |  | 10 |  |  |  | 6,793 |  |  |  | (3,156 | ) |  |  | 3,637 |
Total amortized intangible assets |  |  | 395,964 |  |  |  | (133,597 | ) |  |  | 262,367 |  |  |  |  |  |  |  | 387,740 |  |  |  | (114,626 | ) |  |  | 273,114 |
Unamortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Banjo trade name |  |  | 62,100 |  |  |  | — |  |  |  | 62,100 |  |  |  |  |  |  |  | 62,100 |  |  |  | — |  |  |  | 62,100 |
CVI and Melles Griot trade names |  |  | 47,008 |  |  |  | — |  |  |  | 47,008 |  |  |  |  |  |  |  | 47,008 |  |  |  | — |  |  |  | 47,008 |
Total intangible assets |  | $ | 505,072 |  |  | $ | (133,597 | ) |  | $ | 371,475 |  |  |  |  |  |  | $ | 496,848 |  |  | $ | (114,626 | ) |  | $ | 382,222 |
The unamortized trade names are indefinite lived intangible assets which are tested for impairment on an annual basis or more frequently if events or changes in circumstances indicate that the asset might be impaired.

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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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