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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2016
Goodwill and Other Intangible Assets [Abstract] |
Goodwill and Other Intangible Assets | Note 8 – Goodwill and Other Intangible Assets Goodwill The changes in the carrying amount of goodwill by segment were as follows:
(In thousands) |  | Piping Systems |  |  | Industrial Metals |  |  | Climate |  |  | Total |
Goodwill |  | $ | 141,132 |  |  | $ | 8,853 |  |  | $ | 2,329 |  |  | $ | 152,314 |
Accumulated impairment charges |  |  | (40,552 | ) |  |  | (8,853 | ) |  |  | — |  |  |  | (49,405 | )
Balance at December 27, 2014: |  |  | 100,580 |  |  |  | — |  |  |  | 2,329 |  |  |  | 102,909 |
Additions |  |  | 19,087 |  |  |  | 1 |  |  |  | 2,087 |  |  |  | 21,175 |
Disposition |  |  | (2,418 | ) |  |  | — |  |  |  | — |  |  |  | (2,418 | )
Currency translation |  |  | (1,414 | ) |  |  | — |  |  |  | — |  |  |  | (1,414 | )
Balance at December 26, 2015: |  |  | 115,835 |  |  |  | 1 |  |  |  | 4,416 |  |  |  | 120,252 |
Additions (1) |  |  | 4,601 |  |  |  | — |  |  |  | — |  |  |  | 4,601 |
Currency translation |  |  | (860 | ) |  |  | — |  |  |  | — |  |  |  | (860 | )
Balance at December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill |  |  | 160,128 |  |  |  | 8,854 |  |  |  | 4,416 |  |  |  | 173,398 |
Accumulated impairment charges |  |  | (40,552 | ) |  |  | (8,853 | ) |  |  | — |  |  |  | (49,405 | )
Goodwill, net |  | $ | 119,576 |  |  | $ | 1 |  |  | $ | 4,416 |  |  | $ | 123,993 |
(1) Includes finalization of the purchase price allocation adjustment for Great Lakes of $4.1 million |
Reporting units with recorded goodwill include DPS, Great Lakes, European Operations, Turbotec, Sherwood, and Jungwoo-Mueller. Several factors give rise to goodwill in the Company's acquisitions, such as the expected benefit from synergies of the combination and the existing workforce of the acquired businesses. There were no impairment charges resulting from the 2016, 2015, or 2014 annual impairment tests as the estimated fair value of each of the reporting units exceeded its carrying value. Other Intangible Assets The carrying amount of intangible assets at December 31, 2016 was as follows:
(In thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 29,833 |  |  | $ | (2,845 | ) |  | $ | 26,988 |
Non-compete agreements |  |  | 5,926 |  |  |  | (4,063 | ) |  |  | 1,863 |
Patents and technology |  |  | 5,922 |  |  |  | (1,179 | ) |  |  | 4,743 |
Trade names and licenses |  |  | 4,087 |  |  |  | (1,032 | ) |  |  | 3,055 |
Other |  |  | 213 |  |  |  | (694 | ) |  |  | (481 | )
Other intangible assets |  | $ | 45,981 |  |  | $ | (9,813 | ) |  | $ | 36,168 |
The carrying amount of intangible assets at December 26, 2015 was as follows:
(In thousands) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Customer relationships |  | $ | 30,882 |  |  | $ | (1,488 | ) |  | $ | 29,394 |
Non-compete agreements |  |  | 6,534 |  |  |  | (2,838 | ) |  |  | 3,696 |
Patents and technology |  |  | 9,798 |  |  |  | (5,323 | ) |  |  | 4,475 |
Trade names and licenses |  |  | 4,160 |  |  |  | (574 | ) |  |  | 3,586 |
Other |  |  | 213 |  |  |  | (728 | ) |  |  | (515 | )
Other intangible assets |  | $ | 51,587 |  |  | $ | (10,951 | ) |  | $ | 40,636 |
Amortization expense for intangible assets was $4.3 million in 2016, $4.1 million in 2015, and $3.5 million in 2014. Future amortization expense is estimated as follows:
(In thousands) |  | Amount |
2017 |  | $ | 2,996 |
2018 |  |  | 2,735 |
2019 |  |  | 2,655 |
2020 |  |  | 2,458 |
2021 |  |  | 2,272 |
Thereafter |  |  | 23,052 |
Expected amortization expense |  | $ | 36,168 |

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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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