Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2012

Goodwill And Other Intangible Assets [Abstract]

8 GOODWILL AND OTHER INTANGIBLE ASSETS

The components of goodwill and other intangibles at December 31, 2012 and 2011, and related amortization periods for continuing operations are as follows:


(In Thousands)		2012		2011	Amortization Periods
Goodwill	$	177,181	$	165,372	Not amortized
Other identifiable intangibles
Customer relationships (cost basis of $37,400 in 2012		31,163		30,850	10-12 years
and $32,600 in 2011)
Proprietary technology (cost basis of $21,516 in 2012 and
$18,116 in 2011)		17,145		16,042	Not more than 15 years
Tradenames		13,332		9,049	Indefinite life
Non-compete agreements (cost basis of $4,302 in 2012 and
$2,702 in 2011)		2,359		2,119	2 years
Total carrying value of other intangibles		63,999		58,060
Total carrying value of goodwill and other intangibles	$	241,180	$	223,432

A reconciliation of the beginning and ending balance of goodwill for each of the three years in the period ended December 31, 2012 is as follows:


(In Thousands)		2012			2011			2010
Net carrying value of goodwill, beginning of year	$	165,372		$	103,639		$	104,290
Acquisitions		14,256			63,214			-
Increase (decrease) due to foreign currency translation		(2,447	)		(1,481	)		(651	)
Net carrying value of goodwill, end of year	$	177,181		$	165,372		$	103,639

Based on the severity of the economic downturn and its impact on the sales volumes of our aluminum extrusions business, the resulting operating loss in the first quarter of 2009, possible future losses and the uncertainty in the amount and timing of an economic recovery, a goodwill impairment charge of $30.6 million ($30.6 million after taxes) was recognized in Aluminum Extrusions in 2009. At December 31, 2012, the goodwill balance was $162.9 million for Film Products and $14.3 million for Aluminum Extrusions.

Amortization expense for continuing operations over the next five years is expected to be as follows:


		Amount
Year		(In Thousands)
2013	$	6,786
2014		5,628
2015		4,903
2016		4,891
2017		4,891

- 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.

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