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Goodwill and Other Intangible Assets | 9 Months Ended
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Sep. 30, 2013
Goodwill and Other Intangible Assets [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | 4. GOODWILL AND OTHER INTANGIBLE ASSETS The carrying amount of goodwill at September 30, 2013 and December 31, 2012 was $41,237, of which $38,026 is attributable to the Company’s Rail Products segment and $3,211 is attributable to the Construction Products segment. The Company performs goodwill impairment tests at least annually if it is determined that it is more likely than not that the fair value of a reporting unit is less than the carrying amount. Qualitative factors are assessed to determine whether it is more likely than not that the fair value of a reporting unit is less than the carrying amount as a basis for determining whether it is necessary to perform the two-step goodwill impairment test. No goodwill impairment test was required in connection with these evaluations for the nine months ended September 30, 2013. In 2012, the Company performed its annual evaluation of the carrying value of its goodwill during the fourth quarter of 2012. No goodwill impairment charge was required in connection with this evaluation in 2012. As of September 30, 2013 and December 31, 2012, identified intangible assets of $2,305 are attributable to the Company’s Construction Products segment. As of September 30, 2013 and December 31, 2012, $44,588 and $44,506 are attributable to the Company’s Rail Products segment, respectively. The components of the Company’s intangible assets are as follows:
| September 30, 2013
| Weighted Average |  | Gross |  |  |  | Net
| Amortization Period |  | Carrying |  | Accumulated |  | Carrying
| In Years |  | Value |  | Amortization |  | Amount
Non-compete agreements | 5 | $ | 380 | $ | (372) | $ | 8
Patents | 10 |  | 897 |  | (462) |  | 435
Customer relationships | 23 |  | 19,960 |  | (3,303) |  | 16,657
Supplier relationships | 5 |  | 350 |  | (196) |  | 154
Trademarks | 17 |  | 6,280 |  | (1,202) |  | 5,078
Technology | 18 |  | 19,026 |  | (3,213) |  | 15,813
|  | $ | 46,893 | $ | (8,748) | $ | 38,145
| December 31, 2012
| Weighted Average |  | Gross |  |  |  | Net
| Amortization Period |  | Carrying |  | Accumulated |  | Carrying
| In Years |  | Value |  | Amortization |  | Amount
Non-compete agreements | 5 | $ | 380 | $ | (367) | $ | 13
Patents | 10 |  | 815 |  | (412) |  | 403
Customer relationships | 23 |  | 19,960 |  | (2,488) |  | 17,472
Supplier relationships | 5 |  | 350 |  | (143) |  | 207
Trademarks | 17 |  | 6,280 |  | (879) |  | 5,401
Technology | 18 |  | 19,026 |  | (2,357) |  | 16,669
|  | $ | 46,811 | $ | (6,646) | $ | 40,165
Intangible assets are amortized over their useful lives ranging from 5 to 25 years, with a total weighted average amortization period of approximately 20 years. Amortization expense from continuing operations for the three-month periods ended September 30, 2013 and 2012 were $701 and $703, respectively. Amortization expense from continuing operations for the nine-month periods ended September 30, 2013 and 2012 was $2,102 and $2,097, respectively. Estimated amortization expense from continuing operations for the remainder of 2013 and the years 2014 and thereafter is as follows:
|  | Amortization Expense
2013 | $ | 700
2014 |  | 2,789
2015 |  | 2,514
2016 |  | 2,420
2017 |  | 2,353
2018 and thereafter |  | 27,369
| $ | 38,145

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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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