| Changes in Carrying Value of Goodwill |
The changes in the carrying amount of goodwill for the years ended August 31, 2014 and 2013 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial |
|
Energy |
|
Electrical |
|
Engineered
Solutions |
|
Total |
Balance as of August 31, 2012 |
|
$ |
81,404 |
|
|
$ |
259,521 |
|
|
$ |
213,870 |
|
|
$ |
311,617 |
|
|
$ |
866,412 |
|
Business acquired (Viking) |
|
— |
|
|
87,734 |
|
|
— |
|
|
— |
|
|
87,734 |
|
Purchase accounting adjustments |
|
— |
|
|
117 |
|
|
— |
|
|
(100 |
) |
|
17 |
|
Impairment charge |
|
— |
|
|
— |
|
|
(137,804 |
) |
|
— |
|
|
(137,804 |
) |
Reclassification of discontinued operations |
|
— |
|
|
— |
|
|
(76,877 |
) |
|
— |
|
|
(76,877 |
) |
Divestiture of Nielsen Sessions business |
|
— |
|
|
— |
|
|
— |
|
|
(2,556 |
) |
|
(2,556 |
) |
Impact of changes in foreign currency rates |
|
1,207 |
|
|
(5,469 |
) |
|
811 |
|
|
1,477 |
|
|
(1,974 |
) |
Balance as of August 31, 2013 |
|
82,611 |
|
|
341,903 |
|
|
— |
|
|
310,438 |
|
|
734,952 |
|
Business acquired (Hayes) |
|
17,536 |
|
|
— |
|
|
— |
|
|
— |
|
|
17,536 |
|
Purchase accounting adjustments |
|
— |
|
|
(835 |
) |
|
— |
|
|
— |
|
|
(835 |
) |
Divestiture of RV business |
|
— |
|
|
— |
|
|
— |
|
|
(17,843 |
) |
|
(17,843 |
) |
Impact of changes in foreign currency rates |
|
119 |
|
|
9,559 |
|
|
— |
|
|
(718 |
) |
|
8,960 |
|
Balance as of August 31, 2014 |
|
$ |
100,266 |
|
|
$ |
350,627 |
|
|
$ |
— |
|
|
$ |
291,877 |
|
|
$ |
742,770 |
|
|
| Gross Carrying Amount and Accumulated Amortization of Intangible Assets |
The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted
Average
Amortization
Period (Years) |
|
August 31, 2014 |
|
August 31, 2013 |
|
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net Book
Value |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net Book
Value |
Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
15 |
|
$ |
325,164 |
|
|
$ |
117,706 |
|
|
$ |
207,458 |
|
|
$ |
318,143 |
|
|
$ |
95,215 |
|
|
$ |
222,928 |
|
Patents |
|
10 |
|
31,678 |
|
|
17,494 |
|
|
14,184 |
|
|
30,564 |
|
|
18,747 |
|
|
11,817 |
|
Trademarks and tradenames |
|
17 |
|
23,241 |
|
|
6,201 |
|
|
17,040 |
|
|
24,088 |
|
|
7,356 |
|
|
16,732 |
|
Non-compete agreements and other |
|
4 |
|
7,373 |
|
|
6,783 |
|
|
590 |
|
|
7,034 |
|
|
6,458 |
|
|
576 |
|
Indefinite lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradenames |
|
N/A |
|
125,905 |
|
|
— |
|
|
125,905 |
|
|
124,639 |
|
|
— |
|
|
124,639 |
|
|
|
|
|
$ |
513,361 |
|
|
$ |
148,184 |
|
|
$ |
365,177 |
|
|
$ |
504,468 |
|
|
$ |
127,776 |
|
|
$ |
376,692 |
|
|