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Intangible Assets Including Goodwill (Notes) | 9 Months Ended
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Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets Including Goodwill | Intangible Assets Including Goodwill Goodwill The changes in the carrying value of goodwill by segment are as follows:
| Electrical Infrastructure |  | Oil Gas & Chemical |  | Storage Solutions |  | Industrial |  | Unallocated |  | Total
| (In thousands)
Goodwill | $ | 29,666 |  |  | $ | 8,088 |  |  | $ | 10,985 |  |  | $ | 7,097 |  |  | $ | — |  |  | $ | 55,836 |
Cumulative impairment loss (A) | (17,653 | ) |  | (3,000 | ) |  | (922 | ) |  | (3,425 | ) |  | — |  |  | (25,000 | )
Net balance at June 30, 2013 | 12,013 |  |  | 5,088 |  |  | 10,063 |  |  | 3,672 |  |  | — |  |  | 30,836 |
Acquisition of Matrix NAC (B) | — |  |  | — |  |  | — |  |  | — |  |  | 36,176 |  |  | 36,176 |
Translation adjustment (C) | — |  |  | — |  |  | (123 | ) |  | — |  |  | (300 | ) |  | (423 | )
Net balance at March 31, 2014 | $ | 12,013 |  |  | $ | 5,088 |  |  | $ | 9,940 |  |  | $ | 3,672 |  |  | $ | 35,876 |  |  | $ | 66,589 |
(A) | A $25.0 million impairment charge was recorded in February 2005 as a result of the Company’s operating performance in fiscal 2005.
(B) | The unallocated portion of goodwill relates to the acquisition of Matrix NAC. We are currently assessing the impact of the acquisition on our reporting units and expect to have the analysis complete in the fourth quarter of fiscal 2014. The acquisition is discussed further in Note 2 - Acquisitions.
(C) | The translation adjustment relates to the periodic translation of Canadian Dollar denominated goodwill recorded as a part of prior Canadian acquisitions. The acquisition that created the goodwill attributable to the Storage Solutions segment occurred in a prior fiscal year. The purchase of Matrix NAC as discussed in Note 2 - Acquisitions, created the goodwill that has not been allocated to the operating segments.
Other Intangible Assets Information on the carrying value of other intangible assets is as follows:
|  |  | At March 31, 2014
| Useful Life |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
| (Years) |  | (In thousands)
Intellectual property | 6 to 15 |  | $ | 2,460 |  |  | $ | (879 | ) |  | $ | 1,581 |
Customer based | 1 to 15 |  | 27,513 |  |  | (1,893 | ) |  | 25,620 |
Non-compete agreements | 3 to 5 |  | 1,353 |  |  | (439 | ) |  | 914 |
Trade Name | 5 |  | 165 |  |  | (25 | ) |  | 140 |
Total amortizing intangibles |  |  | 31,491 |  |  | (3,236 | ) |  | 28,255 |
Trade name | Indefinite |  | 1,450 |  |  | — |  |  | 1,450 |
Total intangible assets |  |  | $ | 32,941 |  |  | $ | (3,236 | ) |  | $ | 29,705 |
|  |  | 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 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 |
The increase in other intangible assets at March 31, 2014 compared to June 30, 2013 is due to the acquisition of Matrix NAC. The Matrix NAC intangible assets consist of amortizing intangible assets including customer-based intangibles with a fair value of $23.5 million and useful life ranging from 1.5 to 15 years and a non-compete agreement with a fair value of $0.5 million and a useful life of 4 years. Please refer to Note 2 - Acquisitions for additional information. Amortization expense totaled $1.7 million in the nine months ended March 31, 2014 and $0.4 million in the nine months ended March 31, 2013. Amortization expense is expected to be $2.7 million in fiscal year 2014, $4.3 million in fiscal year 2015, $3.3 million in fiscal year 2016, $2.7 million in fiscal 2017 and $2.6 million in fiscal year 2018.

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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16323-109275 Reference 2: 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=14024403&loc=d3e13816-109267 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16373-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=26713463&loc=d3e16265-109275 Reference 5: 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=14024403&loc=d3e13854-109267 + Details
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