Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2015

Goodwill and Other Intangible Assets [Abstract]

7. GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying values of goodwill for the nine months ended September 30, 2015, were as follows (in thousands):



	T&D		Critical Power
	Solutions		Solutions		Total
	Segment		Segment		Goodwill
Balance as of December 31, 2014	$	6,029	$	3,577	$	9,606
Additions due to acquisition		3,025		-		3,025
Adjustments		-		15		15
Balance as of September 30, 2015	$	9,054	$	3,592	$	12,646

Changes in the carrying values of intangible assets for the nine months ended September 30, 2015, were as follows (in thousands):



	T&D		Critical Power		Total
	Solutions		Solutions		Intangible
	Segment		Segment		Assets
Balance as of December 31, 2014	$	4,386	$	5,405	$	9,791
Amortization		(277)		(1,024)		(1,301)
Impairment charges		(143)		-		(143)
Foreign currency translation		(96)		-		(96)
Balance as of September 30, 2015	$	3,870	$	4,381	$	8,251

The components of intangible assets as of September 30, 2015 are summarized below (in thousands):



	Weighted average amortization years	Gross carrying amount		Accumulated amortization		Impairment charges		Foreign currency translation		Net book value
Customer relationships	7	$	7,282	$	(2,138)	$	(214)	$	(170)	$	4,760
Non-compete agreements	6		465		(250)		-		(2)		213
Trademarks	(a)		2,113		(122)		-		(68)		1,923
Distributor territory license	4		474		(89)		-		-		385
Internally developed software	7		289		(31)		-		-		258
Technology-related industry accreditations	Indefinite		950		-		(161)		(77)		712
Total intangible assets		$	11,573	$	(2,630)	$	(375)	$	(317)	$	8,251

(a) Includes $1.8 million of trademarks with an indefinite useful life, and $0.3 million of trademarks that will be fully amortized during 2015 as a result of the Company’s decision to cease using them.

- 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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