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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2018
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | 5. Goodwill and Other Intangible Assets The changes in the carrying amount of goodwill for the year ended December 31, 2017 and the nine months ended September 30, 2018 are as follows:
($ in millions) |  | Cranes |  |  | Americas |  |  | EURAF |  |  | MEAP |
Balance as of January 1, 2017 |  | $ | 299.6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Foreign currency impact |  |  | 16.5 |  |  |  | — |  |  |  | — |  |  |  | — |
Reallocation of goodwill at October 31, 2017 |  |  | (316.1 | ) |  |  | 166.5 |  |  |  | 81.5 |  |  |  | 68.1 |
Foreign currency impact |  |  | — |  |  |  | — |  |  |  | 4.4 |  |  |  | 0.8 |
Balance as of December 31, 2017 |  |  | — |  |  |  | 166.5 |  |  |  | 85.9 |  |  |  | 68.9 |
Foreign currency impact |  |  | — |  |  |  | — |  |  |  | (2.7 | ) |  |  | (2.2 | )
Balance as of September 30, 2018 |  | $ | — |  |  | $ | 166.5 |  |  | $ | 83.2 |  |  | $ | 66.7 |
The Company accounts for goodwill and other intangible assets under the guidance of ASC Topic 350, “Intangibles — Goodwill and Other.” The Company performs an annual impairment review during the fourth quarter of every year, or more frequently if events or changes in circumstances indicate that the asset might be impaired. Factors which would necessitate an interim goodwill impairment assessment include a sustained decline in the Company’s stock price, prolonged negative industry or economic trends, and significant underperformance relative to historical or projected future operating results. The Company has been monitoring the decline in its equity market capitalization. Despite the decline, as of September 30, 2018, the equity market capitalization remains above the Company’s book value. However, a continued decline in the equity market capitalization could result in a goodwill impairment charge. As of September 30, 2018 there have been no impairment indicators since the fourth quarter of 2017; therefore, no interim impairment review has occurred. The Company performs the impairment review for goodwill and indefinite-lived intangible assets using a fair-value method based on the present value of future cash flows, which involves management’s judgments and assumptions about the amounts of those cash flows and the discount rates used. The estimated fair value is then compared with the carrying amount of the reporting unit, including recorded goodwill, or indefinite-lived intangible asset. The intangible asset is then subject to risk of write-down to the extent that the carrying amount exceeds the estimated fair value. A considerable amount of management judgment and assumptions are required in performing the impairment test, principally in determining the fair value of the reporting unit. While the Company believes the judgments and assumptions are reasonable, different assumptions could change the estimated fair value and, therefore, impairment charges could be required. Weakening industry or economic trends, disruptions to the Company's business, unexpected significant changes or planned changes in the use of the assets or in entity structure may adversely impact the assumptions used in the valuations. The Company continually monitors market conditions and determines if any additional interim reviews of goodwill, other intangibles or long-lived assets are warranted. In the event the Company determines that assets are impaired in the future, the Company would recognize a non-cash impairment charge, which could have a material adverse effect on the Company’s Condensed Consolidated Balance Sheets and Results of Operations. Other intangible assets with definite lives continue to be amortized over their estimated useful lives. Definite lived intangible assets are also subject to impairment testing whenever events or circumstances indicate that the carrying value of the assets may not be recoverable. The gross carrying amount, accumulated amortization and net book value of the Company’s intangible assets other than goodwill at September 30, 2018 and December 31, 2017 are as follows:
|  | September 30, 2018 |  |  | December 31, 2017 |
($ in millions) |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |  |  | Gross Carrying Amount |  |  | Accumulated Amortization |  |  | Net Book Value |
Trademarks and tradenames |  | $ | 97.1 |  |  | $ | — |  |  | $ | 97.1 |  |  | $ | 99.7 |  |  | $ | — |  |  | $ | 99.7 |
Customer relationships |  |  | 9.9 |  |  |  | (8.1 | ) |  |  | 1.8 |  |  |  | 10.7 |  |  |  | (8.7 | ) |  |  | 2.0 |
Patents |  |  | 30.1 |  |  |  | (29.2 | ) |  |  | 0.9 |  |  |  | 30.6 |  |  |  | (29.7 | ) |  |  | 0.9 |
Engineering drawings |  |  | 10.6 |  |  |  | (10.5 | ) |  |  | 0.1 |  |  |  | 10.8 |  |  |  | (10.7 | ) |  |  | 0.1 |
Distribution network |  |  | 19.1 |  |  |  | (0.1 | ) |  |  | 19.0 |  |  |  | 19.5 |  |  |  | (0.1 | ) |  |  | 19.4 |
Other intangibles |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 0.1 |  |  |  | (0.1 | ) |  |  | — |
Total |  | $ | 166.9 |  |  | $ | (48.0 | ) |  | $ | 118.9 |  |  | $ | 171.4 |  |  | $ | (49.3 | ) |  | $ | 122.1 |
There was an immaterial amount of amortization expense for the three months ended September 30, 2018 and 2017. Amortization expense for the nine months ended September 30, 2018 and 2017 was $0.2 million and $0.7 million, respectively. The Company also reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the asset's carrying amount may not be recoverable. The Company conducts its long-lived asset impairment analyses in accordance with ASC Topic 360-10-5, “Property, Plant and Equipment.” ASC Topic 360-10-5 requires the Company to group assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and to evaluate the asset group against the sum of the undiscounted future cash flows. Property, plant and equipment are depreciated over the estimated useful lives of the assets using the straight-line depreciation method for financial reporting and on accelerated methods for income tax purposes.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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