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Goodwill and intangible assets | 12 Months Ended
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Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and intangible assets | Goodwill and intangible assets Goodwill The changes in the carrying amount of goodwill from January 1, 2012 to December 31, 2013, were as follows (in thousands):
| Drilling & Subsea |  | Production & Infrastructure |  | Total
| 2013 | 2012 |  | 2013 | 2012 |  | 2013 | 2012
Goodwill Balance at January 1, net | $ | 616,520 |  | $ | 523,019 |  |  | $ | 79,279 |  | $ | 77,808 |  |  | $ | 695,799 |  | $ | 600,827 |
Acquisition | 100,257 |  | 85,092 |  |  | — |  | — |  |  | 100,257 |  | 85,092 |
Purchase accounting adjustment | 97 |  | — |  |  | — |  | 1,379 |  |  | 97 |  | 1,379 |
Impact of non-U.S. local currency translation | 6,481 |  | 8,409 |  |  | (316 | ) | 92 |  |  | 6,165 |  | 8,501 |
Goodwill Balance at December 31, net | $ | 723,355 |  | $ | 616,520 |  |  | $ | 78,963 |  | $ | 79,279 |  |  | $ | 802,318 |  | $ | 695,799 |
The Company performs its annual impairment tests of goodwill as of December 31. There was no impairment of goodwill during the years ended December 31, 2013, 2012 and 2011. The fair values were determined using the net present value of the expected future cash flows for each reporting unit. Accumulated impairment losses on goodwill were $40.0 million as of December 31, 2013 and 2012. Intangible assets At December 31, 2013 and 2012, intangible assets consisted of the following, respectively (in thousands):
| December 31, 2013
| Gross carrying amount |  | Accumulated amortization |  | Net amortizable intangibles |  | Amortization period (in years)
Customer relationships | $ | 283,171 |  |  | $ | (67,435 | ) |  | $ | 215,736 |  |  | 4-15
Patents and technology | 33,843 |  |  | (6,510 | ) |  | 27,333 |  |  | 5-17
Non-compete agreements | 6,577 |  |  | (5,108 | ) |  | 1,469 |  |  | 3-6
Trade names | 46,654 |  |  | (11,948 | ) |  | 34,706 |  |  | 10-15
Distributor relationships | 22,160 |  |  | (11,282 | ) |  | 10,878 |  |  | 8-15
Trademark | 5,230 |  |  | — |  |  | 5,230 |  |  | Indefinite
Intangible Assets Total | $ | 397,635 |  |  | $ | (102,283 | ) |  | $ | 295,352 |  |  |
| December 31, 2012
| Gross carrying amount |  | Accumulated amortization |  | Net amortizable intangibles |  | Amortization period (in years)
Customer relationships | $ | 241,358 |  |  | $ | (49,766 | ) |  | $ | 191,592 |  |  | 4-15
Patents and technology | 19,780 |  |  | (4,360 | ) |  | 15,420 |  |  | 5-17
Non-compete agreements | 5,880 |  |  | (4,420 | ) |  | 1,460 |  |  | 3-6
Trade names | 40,255 |  |  | (8,680 | ) |  | 31,575 |  |  | 10-15
Distributor relationships | 22,160 |  |  | (10,018 | ) |  | 12,142 |  |  | 8-15
Trademark | 5,230 |  |  | — |  |  | 5,230 |  |  | Indefinite
Intangible Assets Total | $ | 334,663 |  |  | $ | (77,244 | ) |  | $ | 257,419 |  |  |
During the year ended December 31, 2012, an impairment loss of $1.2 million was recorded on certain intangible assets resulting from a lack of business and orders related to a specific service line within the Production & Infrastructure segment. The impairment loss was measured using a discounted cash flows approach and was recorded for the amount by which the carrying value exceeded the estimated fair value of the intangible assets. The impaired intangible assets included customer relationships and trade names and is recorded under "Impairment of intangible assets" in the consolidated statement of comprehensive income. No other indicators of intangible asset impairment occurred during the year ended December 31, 2012. Amortization expense was $24.4 million, $20.3 million and $14.5 million for the years ended December 31, 2013, 2012 and 2011, respectively. The total weighted average amortization period is 14 years and the estimated future amortization expense for the next five years is as follows (in thousands):
Year ending December 31, |  |
2014 |  | $ | 26,515 |
2015 |  | 26,455 |
2016 |  | 25,772 |
2017 |  | 25,426 |
2018 |  | 25,336 |

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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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