Goodwill and Other Intangible Assets (Tables)
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6 Months Ended |
Feb. 29, 2016 |
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| Goodwill and Intangible Assets Disclosure [Abstract] |
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| Asset Impairment Charges [Table Text Block] |
A summary of the second quarter fiscal 2016 impairment charge by reporting unit is as follows (in thousands):
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Cortland |
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Viking |
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maximatecc |
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Total |
Goodwill |
$ |
34,502 |
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|
$ |
39,099 |
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|
$ |
44,521 |
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|
$ |
118,122 |
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Indefinite lived intangible assets |
2,211 |
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|
13,289 |
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|
1,153 |
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|
16,653 |
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Amortizable intangible assets |
— |
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|
27,952 |
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— |
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27,952 |
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Fixed assets |
— |
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|
23,784 |
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— |
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|
23,784 |
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$ |
36,713 |
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$ |
104,124 |
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$ |
45,674 |
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$ |
186,511 |
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| Schedule of Goodwill |
The changes in the carrying value of goodwill for the six months ended February 29, 2016 are as follows (in thousands):
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Industrial |
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Energy |
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Engineered Solutions |
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Total |
Balance as of August 31, 2015 |
$ |
92,107 |
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|
$ |
236,450 |
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|
$ |
279,699 |
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|
$ |
608,256 |
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Business acquisition |
7,210 |
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|
— |
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— |
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|
7,210 |
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Impairment charge |
— |
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|
(73,919 |
) |
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(44,543 |
) |
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(118,462 |
) |
Impact of changes in foreign currency rates |
(885 |
) |
|
(7,884 |
) |
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(1,882 |
) |
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(10,651 |
) |
Balance as of February 29, 2016 |
$ |
98,432 |
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|
$ |
154,647 |
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|
$ |
233,274 |
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|
$ |
486,353 |
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| Schedule Of Finite Lived And Indefinite Lived Intangible Assets Table |
The gross carrying value and accumulated amortization of the Company’s other intangible assets are as follows (in thousands):
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February 29, 2016 |
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August 31, 2015 |
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Weighted Average
Amortization
Period (Years)
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Gross
Carrying
Value
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Accumulated
Amortization
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Net
Book
Value
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Gross
Carrying
Value
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Accumulated
Amortization
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Net
Book
Value
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Amortizable intangible assets: |
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Customer relationships |
15 |
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$ |
298,079 |
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$ |
165,990 |
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$ |
132,089 |
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$ |
302,518 |
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$ |
132,007 |
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$ |
170,511 |
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Patents |
10 |
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30,493 |
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21,020 |
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|
9,473 |
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30,899 |
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19,928 |
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|
10,971 |
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Trademarks and tradenames |
18 |
|
21,344 |
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|
7,584 |
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13,760 |
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21,604 |
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|
7,055 |
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|
14,549 |
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Other intangibles |
3 |
|
6,172 |
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|
5,985 |
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|
187 |
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|
6,790 |
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|
6,496 |
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|
294 |
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Indefinite lived intangible assets: |
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Tradenames |
N/A |
|
95,026 |
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— |
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|
95,026 |
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|
112,437 |
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— |
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|
112,437 |
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$ |
451,114 |
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$ |
200,579 |
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$ |
250,535 |
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$ |
474,248 |
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$ |
165,486 |
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$ |
308,762 |
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