XML 22 R17.htm IDEA: XBRL DOCUMENT

Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill And Intangible Assets Disclosure [Text Block]

Note 11 – Goodwill and Other Intangible Assets

The changes in carrying amount of goodwill for the three months ended March 31, 2012 are as follows. The Company has recorded no impairment charges in the past:

	Metalworking
	Process
	Chemicals		Coatings		Total
Balance as of December 31, 2011	$	50,071	$	8,081	$	58,152
Currency translation adjustments		912		0		912
Balance as of March 31, 2012	$	50,983	$	8,081	$	59,064

Gross carrying amounts and accumulated amortization for definite-lived intangible assets as of March 31, 2012 and December 31, 2011 are as follows:

		Gross Carrying				Accumulated
		Amount				Amortization
		2012		2011		2012		2011
Amortized intangible assets
	Customer lists and rights to sell	$	30,645	$	30,435	$	6,866	$	6,386
	Trademarks and patents		4,799		4,685		2,116		1,991
	Formulations and product technology		5,278		5,278		3,185		3,090
	Other		5,309		5,309		3,661		3,557
	Total	$	46,031	$	45,707	$	15,828	$	15,024

The Company recorded $746 and $486 of amortization expense in the three months ended March 31, 2012 and 2011, respectively. Estimated annual aggregate amortization expense for the current year and subsequent five years is as follows:

For the year ended December 31, 2012	$	2,889
For the year ended December 31, 2013	$	2,712
For the year ended December 31, 2014	$	2,482
For the year ended December 31, 2015	$	2,482
For the year ended December 31, 2016	$	2,022
For the year ended December 31, 2017	$	1,604

The Company has two indefinite-lived intangible assets totaling $1,100 for trademarks at March 31, 2012.

- 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.

+ References+ Details