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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2013
Goodwill and Other Intangible Assets [Abstract] |
GOODWILL AND OTHER INTANGIBLE ASSETS | Note 5. Goodwill and Other Intangible Assets As a result of the November 7, 2013 acquisition, the Company’s goodwill balance increased by $16,544. The carrying amount of goodwill at December 31, 2013 and 2012 was $57,781 and $41,237. During 2012, the Company divested $2,588 in goodwill and $177 in net carrying value of other intangibles attributed to the Rail Products segment in connection with the sale of its railway securement business. More information regarding this sale can be found in Note 4. The following table represents the goodwill balance by reportable segment.
|  | December 31,
|  | 2013 |  | 2012
Rail Products | $ | 38,026 | $ | 38,026
Construction Products |  | 3,211 |  | 3,211
Tubular Products |  | 16,544 |  | -
| $ | 57,781 | $ | 41,237
Identified intangible assets related to continuing operations of $44,455 are attributable to the Company’s Rail Products segment, $1,830 are attributable to the Company’s Construction Products segment, and $14,682 are attributable to the Tubular Products segment at December 31, 2013. The December 31, 2012 carrying value of identified intangible assets was $46,811, of which $44,506 was attributable to the Company’s Rail Products segment and $2,305 was attributable to the Company’s Construction Products segment. The components of the Company’s intangible assets are as follows:
| December 31, 2013
| Weighted Average |  | Gross |  |  |  | Net
| Amortization Period |  | Carrying |  | Accumulated |  | Carrying
| In Years |  | Value |  | Amortization |  | Amount
Non-compete agreements | 5 | $ | 2,860 | $ | (117) | $ | 2,743
Patents | 10 |  | 639 |  | (201) |  | 438
Customer relationships | 23 |  | 19,960 |  | (3,575) |  | 16,385
Supplier relationships | 5 |  | 350 |  | (213) |  | 137
Trademarks and trade names | 16 |  | 7,003 |  | (1,334) |  | 5,669
Technology | 15 |  | 30,155 |  | (3,681) |  | 26,474
|  | $ | 60,967 | $ | (9,121) | $ | 51,846
| 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 17 years. Amortization expense from continuing operations for the years ended December 31, 2013, 2012 and 2011 was $3,112, $2,961, and $2,791, respectively. Estimated amortization expense from continuing operations for the years 2014 and thereafter is as follows:
|  | Amortization Expense
2014 | $ | 4,543
2015 |  | 4,265
2016 |  | 4,107
2017 |  | 4,107
2018 |  | 4,003
2019 and thereafter |  | 30,821
| $ | 51,846

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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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