Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill. The Company had goodwill of $37.2 at both December 31, 2013 and December 31, 2012. Such goodwill is related to the Company's acquisitions of the Chandler, Arizona (Extrusion) facility and the Florence, Alabama facility and is included in the Fabricated Products segment.

The Company’s accounting policy is to perform an annual goodwill impairment test during the fourth quarter of each year or whenever events or changes in circumstances indicate that goodwill or the carrying value of intangible assets may not be recoverable. As of December 31, 2013, the Company performed a quantitative impairment test and determined that no impairment of its goodwill and intangible assets was required.

Intangible Assets. Identifiable intangible assets at December 31, 2013 and December 31, 2012 are comprised of the following:

December 31, 2013:



	Original cost		Accumulated amortization			Net book value
Customer relationships	$	38.5	$	(4.8	)	$	33.7
Backlog	0.8		(0.8		)	—
Trademark and trade name	0.4		(0.4		)	—
Total	$	39.7	$	(6.0	)	$	33.7

December 31, 2012:



	Original cost		Accumulated amortization			Net book value
Customer relationships	$	38.5	$	(3.2	)	$	35.3
Backlog	0.8		(0.8		)	—
Trademark and trade name	0.4		(0.3		)	0.1
Total	$	39.7	$	(4.3	)	$	35.4

Amortization expense relating to definite-lived intangible assets is recorded in the Fabricated Products segment. Such expense was $1.7, $1.8 and $2.2 for 2013, 2012 and 2011, respectively. The expected amortization of intangible assets for each of the next five calendar years is $1.6 and $25.7 for years thereafter.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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