XML 31 R16.htm IDEA: XBRL DOCUMENT v3.8.0.1

GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

9. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill is tested at the reporting unit level annually and if necessary, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

In 2016 we tested goodwill for impairment using a quantitative analysis consisting of a two-step approach. The first step of our quantitative analysis consists of a comparison of the carrying value of our reporting units, including goodwill, to the estimated fair value of our reporting units using a discounted cash flow methodology. If step one results in the carrying value of the reporting unit exceeding the fair value of such reporting unit, we would then proceed to step two which would require us to calculate the amount of impairment loss, if any, that we would record for such reporting unit. In the fourth quarter of 2017 the Company adopted ASU No. 2017–04, “Simplifying the Test for Goodwill Impairment” and eliminated Step 2 from the goodwill impairment test.

In 2017, the Company’s annual impairment test resulted in an assessment that the carrying value of its switchgear reporting unit exceeds its fair value. As a result, the Company recorded an impairment charge of $1.4 million to goodwill of the switchgear unit. The operations of the switchgear reporting unit, including goodwill, are currently presented as discontinued operations (see Note 5 – Discontinued Operations).

In 2016, Jefferson recorded an impairment of $110 for its technology-related industry accreditation that was no longer in use.

Changes in the carrying amount of goodwill by reportable segment during the years ended December 31, 2017 and 2016 are as follows:

		T&D Solutions Segment				Critical Power Solutions Segment				Total Goodwill
Gross Goodwill:
Balance as of January 1, 2016		$	6,533			$	2,970			$	9,503
Adjustments			—				—				—
Balance as of December 31, 2016		$	6,533			$	2,970			$	9,503
Accumulated impairment losses:
Balance as of January 1, 2016		$	(976	)		$	—			$	(976	)
No activity			—				—				—
Balance as of December 31, 2016		$	(976	)		$	—			$	(976	)
Net Goodwill		$	5,557			$	2,970			$	8,527
Gross Goodwill:
Balance as of January 1, 2017		$	6,533			$	2,970			$	9,503
No activity			—				—				—
Balance as of December 31, 2017		$	6,533			$	2,970			$	9,503
Accumulated impairment losses:
Balance as of January 1, 2017		$	(976	)		$	—			$	(976	)
Impairment charges			—				—				—
Balance as of December 31, 2017		$	(976	)		$	—			$	(976	)
Net Goodwill		$	5,557			$	2,970			$	8,527

Changes in intangible asset balances for the years ended December 31, 2017 and 2016 consisted of the following:

		T&D Solutions Segment				Critical Power Solutions Segment				Total Intangible Assets
Balance as of January 1, 2016		$	4,447			$	3,843			$	8,290
Adjustments			—				—				—
Amortization			(382	)			(1,240	)			(1,622	)
Impairment charges			(110	)			—				(110	)
Foreign currency translation			6				—				6
Balance as of December 31, 2016		$	3,961			$	2,603			$	6,564
Adjustments			—				—				—
Amortization			(288	)			(1,358	)			(1,646	)
Impairment charges			—				—				—
Foreign currency translation			4				—				4
Balance as of December 31, 2017		$	3,677			$	1,245			$	4,922

The components of intangible assets at December 31, 2017 are summarized below:

		Weighted Average Amortization Years			Gross Carrying Amount				Accumulated Amortization				Foreign Currency Translation				Net Book Value
Customer relationships		7			$	6,691			$	(4,813	)		$	—			$	1,878
Non-compete agreements		4				155				(125	)			—				30
Trademarks		Indefinite				1,816				—				—				1,816
Distributor territory license		(a)				474				(474	)			—				—
Internally developed software		7				289				(124	)			—				165
Developed technology		10				493				(149	)			—				344
Technology-related industry accreditations		Indefinite				706				—				(17	)			689
Total intangible assets					$	10,624			$	(5,685	)		$	(17	)		$	4,922

(a) During 2017, the Company accelerated and fully amortized distributor territory license intangible asset upon the termination of its distribution agreement with a supplier.

Future scheduled annual straight-line amortization expense over the useful lives of finite life intangible assets is as follows:

Years Ending December 31,		Total
2018		$	1,333
2019			215
2020			200
2021			200
2022			124
Thereafter			345
		$	2,417

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-URI http://asc.fasb.org/topic&trid=2144416

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration