Goodwill and Identifiable Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2011

Goodwill and Identifiable Intangible Assets [Abstract]

Changes in carrying amount of goodwill

	Balance December 31, 2010		Business Combinations		Foreign Currency Translation/ Other			Balance December 31, 2011
	(Dollars in millions)
Actuation and Landing Systems(1)	$	327.7	$	214.3	$	(22.1	)	$	519.9
Nacelles and Interior Systems(2)		591.6		40.8		(2.9	)		629.5
Electronic Systems		842.9		—		(1.3	)		841.6
	$	1,762.2	$	255.1	$	(26.3	)	$	1,991.0

(1) On May 12, 2011, the Company acquired Microtecnica for $457.1 million in cash, net of cash acquired. Based on the Company’s purchase price allocation, $312.4 million was identifiable intangible assets primarily related to customer relationships, $214.3 million was goodwill and $105.8 million was net deferred tax liabilities primarily related to the intangible assets. The fair value of the intangible assets will be amortized over a weighted-average useful life of 27 years. Goodwill primarily represents the expected value from combining Microtecnica’s expertise in flight controls with the Company’s flight control actuation business. The goodwill related to the Microtecnica acquisition is not deductible for tax purposes.

(2) On September 22, 2010, the Company acquired the cabin management assets of DeCrane Holdings Co. In the three months ended March 31, 2011, the Company finalized the purchase price which resulted in a decrease in goodwill.

On September 30, 2011, the Company acquired Winslow Marine Products Corporation for $49.5 million in cash, net of cash acquired. Based on the Company’s purchase price allocation, $13 million was identifiable intangible assets and $43.6 million was goodwill. The fair value of the intangible assets will be amortized over a weighted-average useful life of 15 years.

Summary of Identifiable intangible assets

Identifiable intangible assets as of December 31, 2011 consisted of:

	Gross Amount		Accumulated Amortization			Net
	(Dollars in millions)
Patents, trademarks and licenses	$	150.7	$	(105.0	)	$	45.7
Customer relationships		834.5		(128.7	)		705.8
Technology		209.0		(43.5	)		165.5
Non-compete agreements		1.7		(1.5	)		0.2
	$	1,195.9	$	(278.7	)	$	917.2

Identifiable intangible assets as of December 31, 2010 consisted of:

	Gross Amount		Accumulated Amortization			Net
	(Dollars in millions)
Patents, trademarks and licenses	$	175.4	$	(120.3	)	$	55.1
Customer relationships		547.8		(95.7	)		452.1
Technology		198.9		(30.7	)		168.2
Non-compete agreements		1.7		(1.3	)		0.4
	$	923.8	$	(248.0	)	$	675.8