XML 38 R29.htm IDEA: XBRL DOCUMENT v2.4.0.8
Goodwill and Other Intangible Assets (Tables)
12 Months Ended
Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying value of goodwill by segment
The changes in the carrying amount of goodwill by segment are as follows:
 
 
Electrical
Infrastructure
 
Oil Gas &
Chemical
 
Storage
Solutions
 
Industrial
 
Total
 
 
(In thousands)
Goodwill
 
$
29,666

 
$
5,841

 
$
11,071

 
$
7,097

 
$
53,675

Cumulative impairment loss
 
(17,653
)
 
(3,000
)
 
(922
)
 
(3,425
)
 
(25,000
)
Net balance at June 30, 2012
 
12,013

 
2,841

 
10,149

 
3,672

 
28,675

Purchase of Pelichem (Note 2)
 

 
2,247

 

 

 
2,247

Translation adjustment
 

 

 
(86
)
 

 
(86
)
Net balance at June 30, 2013
 
12,013

 
5,088

 
10,063

 
3,672

 
30,836

Purchase of Kvaerner North American Construction (Note 2)
 
31,259

 
5,855

 

 
1,962

 
39,076

Translation adjustment
 
(29
)
 

 
(36
)
 
(10
)
 
(75
)
Net balance at June 30, 2014
 
$
43,243

 
$
10,943

 
$
10,027

 
$
5,624

 
$
69,837

Carrying value of other intangible assets
Information on the carrying value of other intangible assets is as follows: 
 
 
 
 
At June 30, 2014
 
 
Useful Life
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
 
(Years)
 
(In thousands)
Intellectual property
 
6 to 15
 
$
2,460

 
$
(920
)
 
$
1,540

Customer based
 
1.5 to 15
 
27,662

 
(2,949
)
 
24,713

Non-compete agreements
 
3 to 5
 
1,312

 
(471
)
 
841

Trade name
 
5
 
165

 
(33
)
 
132

Total amortizing intangibles
 
 
 
31,599

 
(4,373
)
 
27,226

Trade name
 
Indefinite     
 
1,450

 

 
1,450

Total intangible assets
 
 
 
$
33,049

 
$
(4,373
)
 
$
28,676

 
 
 
 
At June 30, 2013
 
 
Useful Life
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
 
(Years)
 
(In thousands)
Intellectual property
 
6 to 15
 
$
2,460

 
$
(753
)
 
$
1,707

Customer based
 
1.5 to 15
 
4,250

 
(542
)
 
3,708

Non-compete agreements
 
3 to 5
 
808

 
(287
)
 
521

Trade name
 
5
 
165

 

 
165

Total amortizing intangibles
 
 
 
7,683

 
(1,582
)
 
6,101

Trade name
 
Indefinite     
 
1,450

 

 
1,450

Total intangible assets
 
 
 
$
9,133

 
$
(1,582
)
 
$
7,551

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Amortization expense totaled $2.8 million, $0.4 million, and $0.5 million in fiscal 2014, 2013, and 2012, respectively. We estimate that future amortization of other intangible assets will be as follows (in thousands):
For year ending:

June 30, 2015
$4,726
June 30, 2016
2,854

June 30, 2017
2,769

June 30, 2018
2,670

June 30, 2019
2,545

Thereafter
11,662

Total estimated amortization expense
$27,226