Goodwill

3 Months Ended

Mar. 31, 2012

Goodwill [Abstract]

Goodwill

Goodwill

The Company is required to test for impairment on at least an annual basis. In addition, the Company tests for impairment whenever events or circumstances indicate that it is more likely than not that the fair value of a reporting unit are below its carrying amount. Such events may include, but are not limited to, significant changes in economic and competitive conditions, the impact of the economic environment on the Company's customer base or its businesses, or a material negative change in its relationships with significant customers. The Company last conducted its annual impairment assessment as of October 1.

In September 2011, the FASB issued ASU No. 2011-08, Intangibles—Goodwill and Other (Topic 350), effective for fiscal years beginning after December 15, 2011. The update gives companies the option to perform a qualitative assessment that may enable them to forgo the annual two-step test for impairment. ASU No. 2011-08 allows a qualitative assessment to first be performed to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying value. If a company concludes that this is the case, it must perform the two-step test. Otherwise a company does not have to perform the two-step test. The ASU also includes a revised list of events and circumstances to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. The Company conducted its annual impairment assessment as of October 1, 2011 which included adoption of this guidance.

The change in goodwill for the three months ended March 31, 2012 was as follows:

(In thousands)

					Foreign
	Balance at				Currency				Balance at
Segment	January 1, 2012		Acquisitions		Translation		Impairment		March 31, 2012
Distribution	$	214	$	-0-	$	-0-	$	-0-	$	214
Engineered Products		707		-0-		-0-		-0-		707
Material Handling		34,279		-0-		-0-		-0-		34,279
Lawn and Garden		9,466		-0-		122		-0-		9,588
Total	$	44,666	$	-0-	$	122	$	-0-	$	44,788