Goodwill and Intangible Assets (Notes)

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

Goodwill and Intangible Assets

Goodwill

The following table represents the changes in goodwill by segment:



	Energy & Chemicals		Distribution & Storage			BioMedical		Total
Balance at December 31, 2014	$	92,638	$	157,248		$	155,636	$	405,522
Foreign currency translation adjustments and other	8		(1,657		)	—		(1,649		)
Goodwill acquired during the year	—		181			—		181
Balance at June 30, 2015	$	92,646	$	155,772		$	155,636	$	404,054

Intangible Assets

The following table displays the gross carrying amount and accumulated amortization for finite-lived intangible assets and indefinite-lived intangible assets (exclusive of goodwill)⁽¹⁾⁽²⁾:



	June 30, 2015					December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Finite-lived intangible assets:
Unpatented technology	$	34,018	$	(6,168	)	$	35,933	$	(6,979	)
Patents	7,779		(6,536		)	7,809		(6,213		)
Trademarks and trade names	8,976		(6,663		)	8,981		(6,206		)
Non-compete agreements	421		(263		)	421		(88		)
Customer relations	154,544		(91,121		)	154,945		(84,776		)
Land use rights	14,284		(457		)	2,588		(411		)
Total finite-lived intangible assets	$	220,022	$	(111,208	)	$	210,677	$	(104,673	)
Indefinite-lived intangible assets:
Trademarks and trade names	$	47,535				$	47,662

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⁽¹⁾	Amounts include the impact of foreign currency translation. Fully amortized amounts are written off.


⁽²⁾	The Company amortizes certain identifiable intangible assets mainly on a straight-line basis over their estimated useful lives, which range from one to 50 years.

Amortization expense for intangible assets subject to amortization was $4,123 and $4,475 for the three months ended June 30, 2015 and 2014, respectively. Amortization expense for intangible assets subject to amortization was $8,527 and $8,964 for the six months ended June 30, 2015 and 2014, respectively. The Company estimates amortization expense to be recognized during the next five years as follows:



For the Year Ending December 31,
2015	$	16,500
2016	14,400
2017	13,400
2018	12,700
2019	12,600

- 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.

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