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