GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

9 Months Ended

Sep. 30, 2015

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

The following table presents the changes in the carrying amount of goodwill and other intangible assets during the nine months ended September 30, 2015 (in thousands):

	Goodwill			Other Intangible Assets			Total

Balance as of December 31, 2014	$	253,312		$	130,333		$	383,645
Acquired during the period		11,364			7,264			18,628
Impairment		(57,816	)¹		(1,072	)²		(58,888	)
Translation adjustment		-			(3,017	)		(3,017	)
Amortization		-			(15,907	)		(15,907	)
Balance as of September 30, 2015	$	206,860		$	117,601		$	324,461

(1) Impairment of goodwill associated with acquisition of B27.

(2) Complete write-off of vendor agreement due to termination of agreement by ITT Goulds during the third quarter of 2015.

Goodwill Balance by Reportable Segment

The following table presents goodwill balance by reportable segment as of September 30, 2015 and December 31, 2014 (in thousands):

	September 30, 2015		December 31, 2014
Service Centers	$	168,862	$	167,302
Innovative Pumping Solutions		20,860		68,872
Supply Chain Services		17,138		17,138
Total	$	206,860	$	253,312

Amortizable Other Intangible Assets

The following table presents a summary of amortizable other intangible assets (in thousands):

	As of September 30, 2015							As of December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Carrying Amount, net		Gross Carrying Amount		Accumulated Amortization			Carrying Amount, net
Vendor agreements	$	2,496	$	(2,496	)¹	$	-	$	2,496	$	(1,330	)	$	1,166
Customer relationships		195,580		(78,502	)		117,078		192,512		(63,957	)		128,555
Non-compete agreements		1,815		(1,292	)		523		1,737		(1,125	)		612
Total	$	199,891	$	(82,290	)	$	117,601	$	196,745	$	(66,412	)	$	130,333