XML 47 R31.htm IDEA: XBRL DOCUMENT v3.8.0.1
Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Changes in Carrying Amount of Goodwill
The changes in the carrying amount of goodwill for the years ended December 31, 2017 and 2016 are as follows:
 
EPD
 
IPD
 
FCD
 
Total
 
(Amounts in thousands)
Balance as of January 1, 2016
$
478,059

 
$
301,116

 
$
444,811

 
$
1,223,986

Currency translation and other

(4,228
)
 
(1,351
)
 
(13,353
)
 
(18,932
)
Balance as of December 31, 2016
$
473,831

 
$
299,765

 
$
431,458

 
$
1,205,054

Dispositions
—

 
(1,900
)
 
(36,880
)
 
(38,780
)
Currency translation and other
8,378

 
21,435

 
22,101

 
51,914

Balance as of December 31, 2017
$
482,209

 
$
319,300

 
$
416,679

 
$
1,218,188
Schedule of Changes in Intangible Assets
The following table provides information about our intangible assets for the years ended December 31, 2017 and 2016:
 
 
 
December 31, 2017
 
December 31, 2016
 
Useful
Life
(Years)
 
Ending
Gross
Amount
 
Accumulated
Amortization
 
Ending
Gross
Amount
 
Accumulated
Amortization
 
(Amounts in thousands, except years)
Finite-lived intangible assets:
 
 
 

 
 

 
 

 
 

Engineering drawings(1)
10-22
 
$
90,442

 
$
(71,761
)
 
$
92,135

 
$
(69,881
)
Existing customer relationships(2)
5-10
 
84,291

 
(41,279
)
 
78,610

 
(31,671
)
Patents
9-16
 
26,876

 
(26,231
)
 
26,529

 
(25,318
)
Other
4-40
 
88,887

 
(34,251
)
 
83,171

 
(30,949
)
 
 
 
$
290,496

 
$
(173,522
)
 
$
280,445

 
$
(157,819
)
Indefinite-lived intangible assets(3)
 
 
$
94,665

 
$
(1,590
)
 
$
93,475

 
$
(1,573
)
____________________________________
(1)
Engineering drawings represent the estimated fair value associated with specific acquired product and component schematics.
(2)
Existing customer relationships acquired prior to 2011 had a useful life of five years.
(3)
Accumulated amortization for indefinite-lived intangible assets relates to amounts recorded prior to the implementation date of guidance issued in ASC 350.
Schedule of Actual and Estimated Future Amortization of Finite-Lived Intangible Assets
The following schedule outlines actual amortization expense recognized during 2017 and an estimate of future amortization based upon the finite-lived intangible assets owned at December 31, 2017:
 
Amortization
Expense
 
(Amounts in thousands)
Actual for year ended December 31, 2017
$
15,324

Estimated for year ending December 31, 2018
16,649

Estimated for year ending December 31, 2019
16,127

Estimated for year ending December 31, 2020
14,620

Estimated for year ending December 31, 2021
13,099

Estimated for year ending December 31, 2022
10,934

Thereafter
45,545