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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Jul. 02, 2016
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill The changes in the carrying amount of goodwill, by reportable segment, were as follows:
| December 31, 2015 |  | Goodwill Resulting from Business Combinations |  | Impairments |  | Disposition of Business(2) |  | Foreign Currency Translation and Other |  | July 2, 2016
HVAC segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | $ | 261.3 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (0.1 | ) |  | $ | 261.2 |
Accumulated impairments | (145.2 | ) |  | — |  |  | — |  |  | — |  |  | 0.5 |  |  | (144.7 | )
Goodwill | 116.1 |  |  | — |  |  | — |  |  | — |  |  | 0.4 |  |  | 116.5 |
Detection and Measurement segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 219.1 |  |  | — |  |  | — |  |  | — |  |  | (2.3 | ) |  | 216.8 |
Accumulated impairments | (138.0 | ) |  | — |  |  | — |  |  | — |  |  | 1.9 |  |  | (136.1 | )
Goodwill | 81.1 |  |  | — |  |  | — |  |  | — |  |  | (0.4 | ) |  | 80.7 |
Power segment |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 405.3 |  |  | — |  |  | — |  |  | (36.1 | ) |  | 1.8 |  |  | 371.0 |
Accumulated impairments | (249.0 | ) |  | — |  |  | — |  |  | 25.9 |  |  | (1.4 | ) |  | (224.5 | )
Goodwill(1) | 156.3 |  |  | — |  |  | — |  |  | (10.2 | ) |  | 0.4 |  |  | 146.5 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 885.7 |  |  | — |  |  | — |  |  | (36.1 | ) |  | (0.6 | ) |  | 849.0 |
Accumulated impairments | (532.2 | ) |  | — |  |  | — |  |  | 25.9 |  |  | 1.0 |  |  | (505.3 | )
Goodwill(1) | $ | 353.5 |  |  | $ | — |  |  | $ | — |  |  | $ | (10.2 | ) |  | $ | 0.4 |  |  | $ | 343.7 |
___________________________
(1) | The balance at December 31, 2015 includes $10.7 related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying condensed consolidated balance sheet as of December 31, 2015. See Note 3 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
(2) | Represents goodwill allocated to our dry cooling business upon its disposition.
Other Intangibles, Net Identifiable intangible assets at July 2, 2016 and December 31, 2015 comprised the following:
| July 2, 2016 |  | December 31, 2015
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible assets with determinable lives: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 25.4 |  |  | $ | (10.2 | ) |  | $ | 15.2 |  |  | $ | 25.4 |  |  | $ | (9.5 | ) |  | $ | 15.9 |
Technology(1) | 20.8 |  |  | (9.8 | ) |  | 11.0 |  |  | 40.7 |  |  | (25.2 | ) |  | 15.5 |
Patents | 4.6 |  |  | (4.6 | ) |  | — |  |  | 4.6 |  |  | (4.6 | ) |  | — |
Other | 14.1 |  |  | (8.3 | ) |  | 5.8 |  |  | 14.2 |  |  | (8.1 | ) |  | 6.1 |
| 64.9 |  |  | (32.9 | ) |  | 32.0 |  |  | 84.9 |  |  | (47.4 | ) |  | 37.5 |
Trademarks with indefinite lives(1) (2) | 114.3 |  |  | — |  |  | 114.3 |  |  | 125.0 |  |  | — |  |  | 125.0 |
Total(3) | $ | 179.2 |  |  | $ | (32.9 | ) |  | $ | 146.3 |  |  | $ | 209.9 |  |  | $ | (47.4 | ) |  | $ | 162.5 |
___________________________
(1) | The balance at December 31, 2015 includes $2.4 and $5.9 of technology and trademarks, respectively, related to our dry cooling business. As previously noted, the assets and liabilities of the dry cooling business have been classified as “held for sale” in the accompanying condensed consolidated balance sheet as of December 31, 2015. See Note 3 for information on the assets and liabilities of the dry cooling business as of December 31, 2015.
(2) | As noted below, we recorded an impairment charge of $4.0 during the first quarter of 2016 related to the trademarks of our Heat Transfer business.
(3) | Changes in the gross carrying values of “Other Intangibles, Net” during the six months ended July 2, 2016 related to the sale of our dry cooling business, the impairment charge related to the Heat Transfer trademarks noted above, and, to a lesser extent, foreign currency translation.
At July 2, 2016, the net carrying value of intangible assets with determinable lives consisted of $4.4 in the HVAC segment, $0.2 in the Detection and Measurement segment and $27.4 in the Power segment. At July 2, 2016, trademarks with indefinite lives consisted of $89.2 in the HVAC segment, $10.5 in the Detection and Measurement segment and $14.6 in the Power segment. We perform our annual goodwill impairment testing during the fourth quarter in conjunction with our annual financial planning process, with such testing based primarily on events and circumstances existing as of the end of the third quarter. In addition, we test goodwill for impairment on a more frequent basis if there are indications of potential impairment. A significant amount of judgment is involved in determining if an indication of impairment has occurred between annual testing dates. Such indication may include: a significant decline in expected future cash flows; a significant adverse change in legal factors or the business climate; unanticipated competition; and a more likely than not expectation of selling or disposing all, or a portion, of a reporting unit. We perform our annual trademarks impairment testing during the fourth quarter, or on a more frequent basis if there are indications of potential impairment. The fair values of our trademarks are determined by applying estimated royalty rates to projected revenues, with the resulting cash flows discounted at a rate of return that reflects current market conditions (fair value based on unobservable inputs - Level 3, as defined in Note 15). The primary basis for these projected revenues is the annual operating plan for each of the related businesses, which is prepared in the fourth quarter of each year. Based on our annual impairment testing during the fourth quarter of 2015, the estimated fair value of the trademarks for Heat Transfer was comparable to their carrying value of $9.5. The revenue projections used in the 2015 annual impairment analysis were based on the most recent historical trends for Heat Transfer. At the end of the first quarter of 2016, we concluded that the more recent trends were indicating that Heat Transfer’s revenues for the foreseeable future would be significantly less than the projected amounts included in the 2015 annual analysis. In response to this new information, we performed an impairment analysis of Heat Transfer’s trademarks as of April 2, 2016. Based on such analysis, we recorded an impairment charge of $4.0 to our consolidated results of operations during the first quarter of 2016. In addition to its trademarks, Heat Transfer has definite-lived intangible assets with an aggregate carrying value at July 2, 2016 of $27.3. Although there are no current indications of impairment associated with Heat Transfer’s intangible assets, further deterioration in the business’s financial results could lead to impairment charges in subsequent periods. No impairment charges were recorded in the first half of 2015.

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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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