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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2012
GOODWILL AND OTHER INTANGIBLE ASSETS  
Schedule of changes in the carrying amount of goodwill, by reportable segment and other operating segments

 

 

 

 

December 31,
2011

 

Goodwill
resulting from
business
combinations

 

Impairments

 

Foreign
Currency
Translation
and other (1)

 

June 30, 2012

 

Flow Technology reportable segment

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

$

1,019.9

 

$

24.9

 

$

 

$

11.0

 

$

1,055.8

 

Accumulated Impairments

 

 

 

 

 

 

Goodwill

 

1,019.9

 

24.9

 

 

11.0

 

1,055.8

 

 

 

 

 

 

 

 

 

 

 

 

 

Thermal Equipment and Services reportable segment

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

597.8

 

 

 

(33.2

)

564.6

 

Accumulated Impairments

 

(134.9

)

 

 

 

(134.9

)

Goodwill

 

462.9

 

 

 

(33.2

)

429.7

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial Products and Services

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

450.6

 

 

 

0.3

 

450.9

 

Accumulated Impairments

 

(159.7

)

 

 

(0.3

)

(160.0

)

Goodwill

 

290.9

 

 

 

 

290.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

2,068.3

 

24.9

 

 

(21.9

)

2,071.3

 

Accumulated Impairments

 

(294.6

)

 

 

(0.3

)

(294.9

)

Goodwill

 

$

1,773.7

 

$

24.9

 

$

 

$

(22.2

)

$

1,776.4

 

 

 

(1)                                 Includes the allocation of goodwill of $24.3 related to the deconsolidation of our dry cooling products business in China (see Note 3) and reductions in goodwill associated with foreign currency translation adjustments of $50.7, partially offset by adjustments resulting from revisions to estimates of fair value of certain assets and liabilities associated with the Clyde Union and other acquisitions of $52.8.

Schedule of identifiable intangible assets

 

 

 

 

June 30, 2012

 

December 31, 2011

 

 

 

Gross
Carrying
Value

 

Accumulated
Amortization

 

Net
Carrying
Value

 

Gross
Carrying
Value

 

Accumulated
Amortization

 

Net
Carrying
Value

 

Intangible assets with determinable lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

8.5

 

$

(7.9

)

$

0.6

 

$

8.5

 

$

(7.6

)

$

0.9

 

Technology

 

183.5

 

(34.9

)

148.6

 

182.2

 

(30.5

)

151.7

 

Customer relationships

 

402.9

 

(52.3

)

350.6

 

400.4

 

(44.7

)

355.7

 

Other

 

32.2

 

(14.7

)

17.5

 

38.7

 

(11.0

)

27.7

 

 

 

627.1

 

(109.8

)

517.3

 

629.8

 

(93.8

)

536.0

 

Trademarks with indefinite lives

 

433.5

 

 

433.5

 

436.4

 

 

436.4

 

Total

 

$

1,060.6

 

$

(109.8

)

$

950.8

 

$

1,066.2

 

$

(93.8

)

$

972.4