| Changes in Carrying Value of Goodwill |
The changes in the carrying amount of goodwill for the years ended August 31, 2013 and 2012 are as follows (in thousands):
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Industrial |
|
Energy |
|
Electrical |
|
Engineered
Solutions |
|
Total |
Balance as of August 31, 2011 |
|
$ |
85,409 |
|
|
$ |
252,285 |
|
|
$ |
260,777 |
|
|
$ |
289,995 |
|
|
$ |
888,466 |
|
Businesses acquired |
|
— |
|
|
14,101 |
|
|
— |
|
|
26,188 |
|
|
40,289 |
|
Purchase accounting adjustments |
|
— |
|
|
— |
|
|
(3,995 |
) |
|
715 |
|
|
(3,280 |
) |
Impairment charge |
|
— |
|
|
— |
|
|
(36,557 |
) |
|
— |
|
|
(36,557 |
) |
Impact of changes in foreign currency rates |
|
(4,005 |
) |
|
(6,865 |
) |
|
(6,355 |
) |
|
(5,281 |
) |
|
(22,506 |
) |
Balance as of August 31, 2012 |
|
81,404 |
|
|
259,521 |
|
|
213,870 |
|
|
311,617 |
|
|
866,412 |
|
Business acquired |
|
— |
|
|
87,734 |
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|
— |
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|
— |
|
|
87,734 |
|
Purchase accounting adjustments |
|
— |
|
|
117 |
|
|
— |
|
|
(100 |
) |
|
17 |
|
Impairment charge |
|
— |
|
|
— |
|
|
(137,804 |
) |
|
— |
|
|
(137,804 |
) |
Reclassification to 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 |
|
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| 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):
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Weighted
Average
Amortization
Period (Years) |
|
August 31, 2013 |
|
August 31, 2012 |
|
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net Book
Value |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net Book
Value |
Amortizable intangible assets: |
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Customer relationships |
|
15 |
|
$ |
318,143 |
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|
$ |
95,215 |
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|
$ |
222,928 |
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|
$ |
347,739 |
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|
$ |
93,768 |
|
|
$ |
253,971 |
|
Patents |
|
11 |
|
30,564 |
|
|
18,747 |
|
|
11,817 |
|
|
52,851 |
|
|
34,842 |
|
|
18,009 |
|
Trademarks and tradenames |
|
19 |
|
24,088 |
|
|
7,356 |
|
|
16,732 |
|
|
43,820 |
|
|
8,670 |
|
|
35,150 |
|
Non-compete agreements and other |
|
4 |
|
7,034 |
|
|
6,458 |
|
|
576 |
|
|
7,677 |
|
|
6,316 |
|
|
1,361 |
|
Indefinite lived intangible assets: |
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Tradenames |
|
N/A |
|
124,639 |
|
|
— |
|
|
124,639 |
|
|
137,393 |
|
|
— |
|
|
137,393 |
|
|
|
|
|
$ |
504,468 |
|
|
$ |
127,776 |
|
|
$ |
376,692 |
|
|
$ |
589,480 |
|
|
$ |
143,596 |
|
|
$ |
445,884 |
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