XML 26 R15.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Goodwill and Intangible Assets | 9 Months Ended
--- | ---
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The changes in the carrying amount of goodwill for the nine months ended September 30, 2017, by reportable business segment, were as follows:
| Fluid & Metering Technologies |  | Health & Science Technologies |  | Fire & Safety/ Diversified Products |  | Total
Balance at December 31, 2016 | $ | 573,437 |  |  | $ | 699,299 |  |  | $ | 359,856 |  |  | $ | 1,632,592 |
Foreign currency translation | 14,295 |  |  | 19,117 |  |  | 16,185 |  |  | 49,597 |
Acquisition adjustments | — |  |  | (2,421 | ) |  | — |  |  | (2,421 | )
Balance at September 30, 2017 | $ | 587,732 |  |  | $ | 715,995 |  |  | $ | 376,041 |  |  | $ | 1,679,768 |
ASC 350, Goodwill and Other Intangible Assets, requires that 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. In the first nine months of 2017, there were no events or circumstances that would have required an interim impairment test. Annually, on October 31, goodwill and other acquired intangible assets with indefinite lives are tested for impairment. Based on the results of our annual impairment test at October 31, 2016, all reporting units had fair values in excess of their carrying values. The following table provides the gross carrying value and accumulated amortization for each major class of intangible assets at September 30, 2017 and December 31, 2016:
| At September 30, 2017 |  |  |  | At December 31, 2016
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted Average Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net
Amortized intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Patents | $ | 9,675 |  |  | $ | (7,008 | ) |  | $ | 2,667 |  |  | 11 |  | $ | 9,856 |  |  | $ | (6,635 | ) |  | $ | 3,221 |
Trade names | 117,585 |  |  | (49,474 | ) |  | 68,111 |  |  | 16 |  | 113,428 |  |  | (42,653 | ) |  | 70,775 |
Customer relationships | 309,693 |  |  | (115,313 | ) |  | 194,380 |  |  | 13 |  | 369,087 |  |  | (161,065 | ) |  | 208,022 |
Unpatented technology | 88,065 |  |  | (29,559 | ) |  | 58,506 |  |  | 13 |  | 106,747 |  |  | (44,516 | ) |  | 62,231 |
Other | 839 |  |  | (550 | ) |  | 289 |  |  | 10 |  | 6,527 |  |  | (6,172 | ) |  | 355 |
Total amortized intangible assets | 525,857 |  |  | (201,904 | ) |  | 323,953 |  |  |  |  | 605,645 |  |  | (261,041 | ) |  | 344,604 |
Indefinite lived intangible assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Banjo trade name | 62,100 |  |  | — |  |  | 62,100 |  |  |  |  | 62,100 |  |  | — |  |  | 62,100 |
Akron Brass trade name | 28,800 |  |  | — |  |  | 28,800 |  |  |  |  | 28,800 |  |  | — |  |  | 28,800 |
Total intangible assets | $ | 616,757 |  |  | $ | (201,904 | ) |  | $ | 414,853 |  |  |  |  | $ | 696,545 |  |  | $ | (261,041 | ) |  | $ | 435,504 |
The Banjo trade name is an indefinite-lived intangible asset which is tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the asset might be impaired. In the first nine months of 2017, there were no events or circumstances that would have required an interim impairment test. Based on the results of our annual impairment test at October 31, 2016, the fair value of the Banjo trade name was greater than 25% in excess of the carrying value. The Akron Brass trade name is an indefinite-lived intangible asset that was acquired as a result of the Akron Brass acquisition in March 2016 and is tested for impairment on an annual basis in accordance with ASC 350 or more frequently if events or changes in circumstances indicate that the asset might be impaired. In the first nine months of 2017, there were no events or circumstances that would have required an interim impairment test. Based on the results of our annual impairment test at October 31, 2016, the fair value of the Akron Brass trade name was near its carrying value as a result of the acquisition of this business in March 2016. Amortization of intangible assets was $11.5 million and $35.4 million for the three and nine months ended September 30, 2017. Amortization of intangible assets was $12.8 million and $28.4 million for the three and nine months ended September 30, 2016. Based on the intangible asset balances as of September 30, 2017, amortization expense is expected to approximate $10.7 million for the remaining three months of 2017, $37.4 million in 2018, $34.2 million in 2019, $33.7 million in 2020 and $32.4 million in 2021.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration