Goodwill and Other Intangible Assets (Tables)
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9 Months Ended |
May 31, 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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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 nine months ended May 31, 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 acquisitions |
9,718 |
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|
35,403 |
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— |
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|
45,121 |
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Impairment charge |
— |
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|
(73,919 |
) |
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(44,543 |
) |
|
(118,462 |
) |
Impact of changes in foreign currency rates |
(97 |
) |
|
(4,493 |
) |
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(904 |
) |
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(5,494 |
) |
Balance as of May 31, 2016 |
$ |
101,728 |
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$ |
193,441 |
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|
$ |
234,252 |
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|
$ |
529,421 |
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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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May 31, 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 |
14 |
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$ |
307,400 |
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$ |
170,027 |
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$ |
137,373 |
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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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30,700 |
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21,830 |
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|
8,870 |
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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 |
|
21,233 |
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|
7,658 |
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13,575 |
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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 |
|
6,755 |
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|
5,880 |
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|
875 |
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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 |
|
95,228 |
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— |
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|
95,228 |
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|
112,437 |
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— |
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|
112,437 |
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$ |
461,316 |
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$ |
205,395 |
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|
$ |
255,921 |
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$ |
474,248 |
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$ |
165,486 |
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$ |
308,762 |
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