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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
9 Months Ended
Sep. 29, 2012
GOODWILL AND OTHER INTANGIBLE ASSETS  
Schedule of changes in the carrying amount of goodwill, by reportable segment and other operating segments

 

 

 

 

 

 

Goodwill

 

 

 

Foreign

 

 

 

 

 

 

 

resulting from

 

 

 

Currency

 

 

 

 

 

December 31,

 

business

 

 

 

Translation

 

September 29,

 

 

 

2011

 

combinations

 

Impairments

 

and other (1)

 

2012

 

Flow Technology reportable segment

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

$

1,019.9

 

$

24.9

 

$

 

$

39.1

 

$

1,083.9

 

Accumulated Impairments

 

 

 

 

 

 

Goodwill

 

1,019.9

 

24.9

 

 

39.1

 

1,083.9

 

 

 

 

 

 

 

 

 

 

 

 

 

Thermal Equipment and Services reportable segment

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

597.8

 

 

 

(27.6

)

570.2

 

Accumulated Impairments

 

(134.9

)

 

 

 

(134.9

)

Goodwill

 

462.9

 

 

 

(27.6

)

435.3

 

 

 

 

 

 

 

 

 

 

 

 

 

Industrial Products and Services

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

450.6

 

 

 

2.6

 

453.2

 

Accumulated Impairments

 

(159.7

)

 

 

(2.0

)

(161.7

)

Goodwill

 

290.9

 

 

 

0.6

 

291.5

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

Gross Goodwill

 

2,068.3

 

24.9

 

 

14.1

 

2,107.3

 

Accumulated Impairments

 

(294.6

)

 

 

(2.0

)

(296.6

)

Goodwill

 

$

1,773.7

 

$

24.9

 

$

 

$

12.1

 

$

1,810.7

 

 

(1)                                Includes adjustments resulting from revisions to estimates of fair value of certain assets and liabilities associated with Clyde Union and other acquisitions of $56.7, partially offset by 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 $20.3.

Schedule of identifiable intangible assets

 

 

 

 

September 29, 2012

 

December 31, 2011

 

 

 

Gross

 

 

 

Net

 

Gross

 

 

 

Net

 

 

 

Carrying

 

Accumulated

 

Carrying

 

Carrying

 

Accumulated

 

Carrying

 

 

 

Value

 

Amortization

 

Value

 

Value

 

Amortization

 

Value

 

Intangible assets with determinable lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

Patents

 

$

8.5

 

$

(7.9

)

$

0.6

 

$

8.5

 

$

(7.6

)

$

0.9

 

Technology

 

188.4

 

(38.3

)

150.1

 

182.2

 

(30.5

)

151.7

 

Customer relationships

 

416.0

 

(58.5

)

357.5

 

400.4

 

(44.7

)

355.7

 

Other

 

33.4

 

(16.3

)

17.1

 

38.7

 

(11.0

)

27.7

 

 

 

646.3

 

(121.0

)

525.3

 

629.8

 

(93.8

)

536.0

 

Trademarks with indefinite lives

 

441.8

 

 

441.8

 

436.4

 

 

436.4

 

Total

 

$

1,088.1

 

$

(121.0

)

$

967.1

 

$

1,066.2

 

$

(93.8

)

$

972.4