XML 49 R21.htm IDEA: XBRL DOCUMENT v2.4.0.8
Intangible Assets Including Goodwill (Tables)
6 Months Ended
Dec. 31, 2013
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Value of Goodwill by Segment
The changes in the carrying value of goodwill by segment are as follows:
 
 
Electrical
Infrastructure
 
Oil Gas &
Chemical
 
Storage
Solutions
 
Industrial
 
Unallocated
 
Total
 
(In thousands)
Goodwill
$
29,666

 
$
8,088

 
$
10,985

 
$
7,097

 
$

 
$
55,836

Cumulative impairment loss (A)
(17,653
)
 
(3,000
)
 
(922
)
 
(3,425
)
 

 
(25,000
)
Net balance at June 30, 2013
12,013

 
5,088

 
10,063

 
3,672

 

 
30,836

Acquisition of Matrix NAC (B)

 

 

 


 
36,311

 
36,311

Translation adjustment (C)

 

 
(25
)
 

 

 
(25
)
Net balance at December 31, 2013
$
12,013

 
$
5,088

 
$
10,038

 
$
3,672

 
$
36,311

 
$
67,122

 
(A)
A $25.0 million impairment charge was recorded in February 2005 as a result of the Company’s operating performance in fiscal 2005.
(B)
The unallocated portion of goodwill relates to the acquisition of Matrix NAC. We are currently assessing the impact of the acquisition on our reporting units and expect to have the analysis complete in the third quarter of fiscal 2014. The acquisition is discussed further in Note 2 - Acquisitions.
(C)
The translation adjustment relates to the periodic translation of Canadian Dollar denominated goodwill recorded as a part of a prior Canadian acquisition.
Carrying Value of Other Intangible Assets
Information on the carrying value of other intangible assets is as follows:
 
 
 
 
At December 31, 2013
  
Useful Life
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
(Years)
 
(In thousands)
Intellectual property
6 to 15
 
$
2,460

 
$
(837
)
 
$
1,623

Customer based
1 to 15
 
27,714

 
(830
)
 
26,884

Non-compete agreements
3 to 5
 
1,353

 
(367
)
 
986

Trade Name
5
 
165

 
(17
)
 
148

Total amortizing intangibles
 
 
31,692

 
(2,051
)
 
29,641

Trade name
Indefinite     
 
1,450

 

 
1,450

Total intangible assets
 
 
$
33,142

 
$
(2,051
)
 
$
31,091

 
 
 
 
At June 30, 2013
 
Useful Life
 
Gross Carrying
Amount
 
Accumulated
Amortization
 
Net Carrying
Amount
 
(Years)
 
(In thousands)
Intellectual property
6 to 15
 
$
2,460

 
$
(753
)
 
$
1,707

Customer based
1 to 15
 
4,250

 
(542
)
 
3,708

Non-compete agreements
3 to 5
 
808

 
(287
)
 
521

Trade Name
5
 
165

 

 
165

Total amortizing intangibles
 
 
7,683

 
(1,582
)
 
6,101

Trade name
Indefinite     
 
1,450

 

 
1,450

Total intangible assets
 
 
$
9,133

 
$
(1,582
)
 
$
7,551