| Changes in Carrying Value of Goodwill |
The changes in the carrying amount of goodwill for the years ended August 31, 2015 and 2014 are as follows (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Industrial |
|
Energy |
|
Engineered Solutions |
|
Total |
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 |
|
Purchase accounting adjustments |
|
(3,244 |
) |
|
— |
|
|
— |
|
|
(3,244 |
) |
Impairment charge |
|
— |
|
|
(78,530 |
) |
|
— |
|
|
(78,530 |
) |
Impact of changes in foreign currency rates |
|
(4,915 |
) |
|
(35,647 |
) |
|
(12,178 |
) |
|
(52,740 |
) |
Balance as of August 31, 2015 |
|
$ |
92,107 |
|
|
$ |
236,450 |
|
|
$ |
279,699 |
|
|
$ |
608,256 |
|
|
| 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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|
|
|
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|
|
|
|
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|
|
|
|
|
|
|
|
|
|
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|
|
|
|
|
|
Weighted Average Amortization Period (Year) |
|
August 31, 2015 |
|
August 31, 2014 |
|
|
Gross |
|
Accumulated Amortization |
|
Net Book Value |
|
Gross |
|
Accumulated Amortization |
|
Net Book Value |
Amortizable intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer relationships |
|
15 |
|
$ |
302,518 |
|
|
$ |
132,007 |
|
|
$ |
170,511 |
|
|
$ |
325,164 |
|
|
$ |
117,706 |
|
|
$ |
207,458 |
|
Patents |
|
10 |
|
30,899 |
|
|
19,928 |
|
|
10,971 |
|
|
31,678 |
|
|
17,494 |
|
|
14,184 |
|
Trademarks and tradenames |
|
18 |
|
21,604 |
|
|
7,055 |
|
|
14,549 |
|
|
23,241 |
|
|
6,201 |
|
|
17,040 |
|
Non-compete agreements & other |
|
3 |
|
6,790 |
|
|
6,496 |
|
|
294 |
|
|
7,373 |
|
|
6,783 |
|
|
590 |
|
Indefinite lived intangible assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tradenames |
|
N/A |
|
112,437 |
|
|
— |
|
|
112,437 |
|
|
125,905 |
|
|
— |
|
|
125,905 |
|
|
|
|
|
$ |
474,248 |
|
|
$ |
165,486 |
|
|
$ |
308,762 |
|
|
$ |
513,361 |
|
|
$ |
148,184 |
|
|
$ |
365,177 |
|
|