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GOODWILL AND OTHER INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2018
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, for the six months ended June 30, 2018, were as follows:
| December 31, 2017 |  | Goodwill Resulting from Business Combinations (1) |  | Impairments |  | Foreign Currency Translation |  | June 30, 2018
HVAC segment |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | $ | 263.7 |  |  | $ | — |  |  | $ | — |  |  | $ | (1.1 | ) |  | $ | 262.6 |
Accumulated impairments | (144.7 | ) |  | — |  |  | — |  |  | 0.1 |  |  | (144.6 | )
Goodwill | 119.0 |  |  | — |  |  | — |  |  | (1.0 | ) |  | 118.0 |
Detection and Measurement segment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 216.6 |  |  | 48.4 |  |  | — |  |  | (0.6 | ) |  | 264.4 |
Accumulated impairments | (136.0 | ) |  | — |  |  | — |  |  | 0.6 |  |  | (135.4 | )
Goodwill | 80.6 |  |  | 48.4 |  |  | — |  |  | — |  |  | 129.0 |
Engineered Solutions segment |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 358.3 |  |  | — |  |  | — |  |  | (1.3 | ) |  | 357.0 |
Accumulated impairments | (212.0 | ) |  | — |  |  | — |  |  | 1.3 |  |  | (210.7 | )
Goodwill | 146.3 |  |  | — |  |  | — |  |  | — |  |  | 146.3 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
Gross goodwill | 838.6 |  |  | 48.4 |  |  | — |  |  | (3.0 | ) |  | 884.0 |
Accumulated impairments | (492.7 | ) |  | — |  |  | — |  |  | 2.0 |  |  | (490.7 | )
Goodwill | $ | 345.9 |  |  | $ | 48.4 |  |  | $ | — |  |  | $ | (1.0 | ) |  | $ | 393.3 |
___________________________
(1) | Reflects amounts acquired in connection with the Schonstedt and Cues acquisitions of $1.8 and $46.6, respectively.
Other Intangibles, Net Identifiable intangible assets at June 30, 2018 and December 31, 2017 comprised the following:
| June 30, 2018 |  | December 31, 2017
| Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value |  | Gross Carrying Value |  | Accumulated Amortization |  | Net Carrying Value
Intangible assets with determinable lives:(1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Customer relationships | $ | 44.8 |  |  | $ | (1.7 | ) |  | $ | 43.1 |  |  | $ | 1.4 |  |  | $ | (1.4 | ) |  | $ | — |
Technology | 17.1 |  |  | (0.5 | ) |  | 16.6 |  |  | 2.1 |  |  | (0.5 | ) |  | 1.6 |
Patents | 4.5 |  |  | (4.5 | ) |  | — |  |  | 4.5 |  |  | (4.5 | ) |  | — |
Other | 11.3 |  |  | (7.1 | ) |  | 4.2 |  |  | 11.7 |  |  | (7.9 | ) |  | 3.8 |
| 77.7 |  |  | (13.8 | ) |  | 63.9 |  |  | 19.7 |  |  | (14.3 | ) |  | 5.4 |
Trademarks with indefinite lives(2) | 138.0 |  |  | — |  |  | 138.0 |  |  | 112.2 |  |  | — |  |  | 112.2 |
Total | $ | 215.7 |  |  | $ | (13.8 | ) |  | $ | 201.9 |  |  | $ | 131.9 |  |  | $ | (14.3 | ) |  | $ | 117.6 |
___________________________
(1) | The identifiable intangible assets associated with the Schonstedt acquisition consist of customer relationships and technology of $0.8 and $8.3, respectively. The identifiable intangible assets associated with the Cues acquisition consist of customer backlog, customer relationships, and technology of $0.8, $42.6, and $8.5, respectively. Additionally, the technology associated with Heat Transfer of $1.5 was sold during the second quarter of 2018 in connection with the planned wind-down of the business.
(2) | Changes during the six months ended June 30, 2018 related primarily to the acquisition of the Schonstedt and Cues trademarks of $1.8 and $27.6, respectively, and the sale of the trademarks associated with Heat Transfer of $3.3 in connection with the planned wind-down of the business.
In connection with the acquisition of Schonstedt and Cues, which has determinable lived intangibles as noted above, we updated our estimated annual amortization expense related to intangible assets to $4.2 for full year 2018, and $5.3 for each of the five years thereafter. At June 30, 2018, the net carrying value of intangible assets with determinable lives consisted of $3.6 in the HVAC reportable segment and $60.3 in the Detection and Measurement reportable segment. At June 30, 2018, trademarks with indefinite lives consisted of $89.4 in the HVAC reportable segment, $39.5 in the Detection and Measurement reportable segment, and $9.1 in the Engineered Solutions reportable 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 16). 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.

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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 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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