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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables) | 6 Months Ended
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Jun. 30, 2016
GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract] |
Goodwill and Other Intangible Assets | The following table presents the changes in the carrying amount of goodwill and other intangible assets during the six months ended June 30, 2016 (in thousands):
|  | Goodwill |  |  | Other Intangible Assets |  |  | Total |
Balance as of December 31, 2015 |  | $ | 197,362 |  |  | $ | 112,297 |  |  | $ | 309,659 |
Purchase price adjustment |  |  | (151 | ) |  |  | - |  |  |  | (151 | )
Translation adjustment |  |  | - |  |  |  | 1,182 |  |  |  | 1,182 |
Amortization |  |  | - |  |  |  | (9,038 | ) |  |  | (9,038 | )
Balance as of June 30, 2016 |  | $ | 197,211 |  |  | $ | 104,441 |  |  | $ | 301,652 |
Goodwill Balance by Reportable Segment | The following table presents goodwill balance by reportable segment as of June 30, 2016 and December 31, 2015 (in thousands):
|  | June 30, 2016 |  |  | December 31, 2015 |
Service Centers |  | $ | 164,093 |  |  | $ | 164,244 |
Innovative Pumping Solutions |  |  | 15,980 |  |  |  | 15,980 |
Supply Chain Services |  |  | 17,138 |  |  |  | 17,138 |
Total |  | $ | 197,211 |  |  | $ | 197,362 |
Amortizable Other Intangible Assets | The following table presents a summary of amortizable other intangible assets (in thousands):
|  | As of June 30, 2016 |  |  | As of December 31, 2015 |  |  |  |
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Carrying Amount, net |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Carrying Amount, net |
Customer relationships |  | $ | 196,503 |  |  | $ | (92,404 | ) |  |  | 104,099 |  |  |  | 195,580 |  |  |  | (83,741 | ) |  |  | 111,839 |
Non-compete agreements |  |  | 1,848 |  |  |  | (1,506 | ) |  |  | 342 |  |  |  | 1,815 |  |  |  | (1,357 | ) |  |  | 458 |
Total |  | $ | 198,351 |  |  | $ | (93,910 | ) |  | $ | 104,441 |  |  | $ | 197,395 |  |  | $ | (85,098 | ) |  | $ | 112,297 |

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- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16323-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66006027&loc=d3e16265-109275 + Details
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- Definition Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule. + References Reference 1: 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 2: 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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- Definition Tabular disclosure of goodwill and intangible assets, which may be broken down by segment or major class. + References Reference 1: 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 + Details
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