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Goodwill and Intangible Assets (Tables) | 12 Months Ended
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Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract] |
Schedule of Goodwill | Goodwill assigned to the Company’s Water Transmission and Tubular Products Groups is as follows (in thousands):
|  | Water Transmission |  |  | Tubular Products |  |  | Total |
Goodwill balance, December 31, 2012 |  | $ | — |  |  | $ | 20,478 |  |  | $ | 20,478 |
Additions |  |  | 5,282 |  |  |  | — |  |  |  | 5,282 |
Goodwill balance, December 31, 2013 |  |  | 5,282 |  |  |  | 20,478 |  |  |  | 25,760 |
Adjustment for the sale of OCTG business |  |  | — |  |  |  | (4,412 | ) |  |  | (4,412 | )
Fourth quarter impairment |  |  | — |  |  |  | (16,066 | ) |  |  | (16,066 | )
Goodwill balance, December 31, 2014 |  | $ | 5,282 |  |  | $ | — |  |  | $ | 5,282 |
Summary of Intangible Assets | Intangible assets consist of the following as of December 31, 2014 (in thousands):
|  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Intangible Assets, Net |  |  | Remaining Weighted-Average Amortization Period (in years) |
Customer relationships |  | $ | 1,378 |  |  | $ | (138 | ) |  | $ | 1,240 |  |  |  | 9.0 |
Patents |  |  | 1,162 |  |  |  | (232 | ) |  |  | 930 |  |  |  | 4.0 |
Trade names and trademarks |  |  | 1,132 |  |  |  | (75 | ) |  |  | 1,057 |  |  |  | 14.0 |
Other (1) |  |  | 295 |  |  |  | (77 | ) |  |  | 218 |  |  |  | 2.9 |
Total |  | $ | 3,967 |  |  | $ | (522 | ) |  | $ | 3,445 |  |  |  | 8.8 |
(1) | Other intangibles consist of favorable lease contracts and non-compete agreements
Summary of Estimated Amortization Expense | The estimated amortization expense for the next five fiscal years is as follows (in thousands):
2015 |  |  | 523 |
2016 |  |  | 523 |
2017 |  |  | 495 |
2018 |  |  | 459 |
2019 |  |  | 213 |
Thereafter |  |  | 1,232 |
|  | $ | 3,445 |

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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for finite-lived intangible assets. + 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=26713463&loc=d3e16323-109275 + 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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