Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill for the three months ended March 31, 2015 are summarized as follows:



	Packaging			Energy			Aerospace		Engineered Components		Cequent APEA		Cequent Americas			Total
	(dollars in thousands)
Balance, December 31, 2014	$	169,350		$	73,180		$	210,130	$	7,420	$	—	$	6,580		$	466,660
Foreign currency translation and other	(2,810		)	(1,040		)	—		—		—		(1,110		)	(4,960		)
Balance, March 31, 2015	$	166,540		$	72,140		$	210,130	$	7,420	$	—	$	5,470		$	461,700

The gross carrying amounts and accumulated amortization of the Company's other intangibles as of March 31, 2015 and December 31, 2014 are summarized below. The Company amortizes these assets over periods ranging from one to 30 years.



	As of March 31, 2015					As of December 31, 2014
Intangible Category by Useful Life	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
	(dollars in thousands)
Finite-lived intangible assets:
Customer relationships, 5 – 12 years	$	108,530	$	(46,380	)	$	109,460	$	(44,370	)
Customer relationships, 15 – 25 years	237,610		(106,600		)	237,610		(103,390		)
Total customer relationships	346,140		(152,980		)	347,070		(147,760		)
Technology and other, 1 – 15 years	72,560		(33,840		)	71,830		(32,250		)
Technology and other, 17 – 30 years	43,300		(27,670		)	44,120		(27,560		)
Total technology and other	115,860		(61,510		)	115,950		(59,810		)
Indefinite-lived intangible assets:
Trademark/Trade names	107,330		—			108,480		—
Total other intangible assets	$	569,330	$	(214,490	)	$	571,500	$	(207,570	)

Amortization expense related to intangible assets as included in the accompanying consolidated statement of income is summarized as follows:



	Three months ended March 31,
	2015		2014
	(dollars in thousands)
Technology and other, included in cost of sales	$	1,660	$	1,230
Customer relationships, included in selling, general and administrative expenses	5,560		4,250
Total amortization expense	$	7,220	$	5,480

- 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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