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Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets Disclosure [Text Block]

Note 19 – Goodwill and Other Intangible Assets

The Company completed its annual impairment assessment as of the end of the third quarter of 2011 and no impairment charge was warranted. The Company has recorded no impairment charges in the past. The changes in carrying amount of goodwill for the years ended December 31, 2011 and December 31, 2010 are as follows:

	Metalworking
	Process
	Chemicals		Coatings		Total
Balance as of December 31, 2009	$	38,434	$	8,081	$	46,515
Goodwill additions		6,220		0		6,220
Currency translation adjustments and other		23		0		23
Balance as of December 31, 2010	$	44,677	$	8,081	$	52,758
Goodwill additions		8,229		0		8,229
Currency translation adjustments and other		(2,835)		0		(2,835)
Balance as of December 31, 2011	$	50,071	$	8,081	$	58,152

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of December 31 are as follows:

	Gross Carrying				Accumulated
	Amount				Amortization
	2011		2010		2011		2010
Amortized intangible assets
Customer lists and rights to sell	$	30,435	$	24,379	$	6,386	$	4,974
Trademarks and patents		4,685		2,035		1,991		1,800
Formulations and product technology		5,278		5,278		3,090		2,708
Other		5,309		4,004		3,557		3,284
Total	$	45,707	$	35,696	$	15,024	$	12,766

The Company recorded $2,338, $988 and $1,078 of amortization expense in 2011, 2010 and 2009, respectively. Estimated annual aggregate amortization expense for the subsequent five years is as follows:

	For the year ended December 31, 2012		$2,918
	For the year ended December 31, 2013		$2,738
	For the year ended December 31, 2014		$2,502
	For the year ended December 31, 2015		$2,502
	For the year ended December 31, 2016		$2,036

The Company has two indefinite-lived intangible assets totaling $1,100 for trademarks at December 31, 2011 and December 31, 2010.

- 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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