Changes in Carrying Value of Goodwill |
The changes in
the carrying value of goodwill for the nine months ended
May 31, 2012 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 |
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Balance as of
August 31, 2011
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$ |
85,409 |
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$ |
252,285 |
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$ |
260,777 |
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$ |
289,995 |
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$ |
888,466 |
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Businesses
acquired
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— |
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14,101 |
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— |
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5,462 |
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19,563 |
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Purchase accounting
adjustments
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— |
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— |
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(3,995 |
) |
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|
715 |
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(3,280 |
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Impact of changes in
foreign currency rates
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(4,708 |
) |
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(12,195 |
) |
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(7,144 |
) |
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(7,020 |
) |
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(31,067 |
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Balance as of May 31,
2012
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$ |
80,701 |
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$ |
254,191 |
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$ |
249,638 |
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$ |
289,152 |
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$ |
873,682 |
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Gross Carrying Value and Accumulated Amortization of Intangible Assets |
The gross
carrying value and accumulated amortization of the Company’s
intangible assets are as follows (in thousands):
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Weighted |
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May 31,
2012 |
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August 31,
2011 |
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Average |
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Gross |
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Net |
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Gross |
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Net |
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Amortization |
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Carrying |
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Accumulated |
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Book |
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Carrying |
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Accumulated |
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Book |
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Period (Years) |
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Value |
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Amortization |
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Value |
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Value |
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Amortization |
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Value |
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Amortizable intangible
assets:
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Customer
relationships
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15 |
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$ |
328,127 |
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$ |
87,345 |
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$ |
240,782 |
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$ |
331,171 |
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$ |
73,215 |
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$ |
257,956 |
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Patents
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13 |
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50,259 |
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33,802 |
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16,457 |
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51,169 |
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31,221 |
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19,948 |
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Trademarks and
tradenames
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20 |
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41,178 |
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7,966 |
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33,212 |
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38,917 |
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6,571 |
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32,346 |
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Non-compete agreements and other
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4 |
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7,489 |
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6,023 |
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1,466 |
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7,362 |
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5,671 |
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|
1,691 |
|
Indefinite lived intangible
assets:
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Tradenames
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N/A |
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162,443 |
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— |
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162,443 |
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167,465 |
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— |
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167,465 |
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$ |
589,496 |
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$ |
135,136 |
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$ |
454,360 |
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$ |
596,084 |
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$ |
116,678 |
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$ |
479,406 |
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