Intangible Assets Including Goodwill (Notes)

9 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

The changes in the carrying value of goodwill by segment are as follows:



	Electrical Infrastructure			Oil Gas & Chemical			Storage Solutions			Industrial			Total
	(In thousands)
Goodwill	$	60,027		$	17,008		$	10,586		$	8,897		$	96,518
Cumulative impairment loss (1)	(17,653		)	(3,000		)	(922		)	(3,425		)	(25,000		)
Net balance at June 30, 2015	42,374			14,008			9,664			5,472			71,518
Purchase of BTE (Note 2)	—			—			7,618			—			7,618
Translation adjustment (2)	(240		)	—			(6		)	(45		)	(291		)
Net balance at March 31, 2016	$	42,134		$	14,008		$	17,276		$	5,427		$	78,845


(1)	A $25.0 million impairment charge was recorded in February 2005.


(2)	The translation adjustments relate to the periodic translation of Canadian Dollar and South Korean Won denominated goodwill recorded as a part of prior acquisitions in Canada and South Korea, in which the local currency was determined to be the functional currency.

Other Intangible Assets

Information on the carrying value of other intangible assets is as follows:



		At March 31, 2016
	Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	6 to 15	$	2,579	$	(1,202	)	$	1,377
Customer-based	0.3 to 15	28,154		(8,945		)	19,209
Non-compete agreements	4 to 5	1,453		(1,023		)	430
Trade names	3 to 5	1,615		(695		)	920
Total amortizing intangible assets		$	33,801	$	(11,865	)	$	21,936



		At June 30, 2015
	Useful Life	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
	(Years)	(In thousands)
Intellectual property	6 to 15	$	2,460	$	(1,086	)	$	1,374
Customer-based	1.5 to 15	27,837		(7,109		)	20,728
Non-compete agreements	4 to 5	1,354		(802		)	552
Trade names	3 to 5	1,615		(308		)	1,307
Total amortizing intangible assets		$	33,266	$	(9,305	)	$	23,961

The increase in the gross carrying amount of other intangible assets at March 31, 2016 compared to June 30, 2015 is due primarily to the February 1, 2016 acquisition of BTE (Note 2). The BTE intangible assets consist of the following amortizing assets:


•	customer-based intangibles with a fair value of $0.5 million and useful life of between 4 months and 10 years;


•	intellectual property intangibles with a fair value of $0.1 million and useful life of 10 years; and


•	non-compete agreement intangibles with a fair value of $0.1 million and useful life of 4 years.

Amortization expense totaled $2.6 million in the nine months ended March 31, 2016 and $3.7 million in the nine months ended March 31, 2015. We estimate that the remaining amortization expense at March 31, 2016 will be as follows (in thousands):



Period ending:
Remainder of Fiscal 2016	$	937
Fiscal 2017	3,294
Fiscal 2018	2,954
Fiscal 2019	2,587
Fiscal 2020	2,577
Fiscal 2021	2,559
Thereafter	7,028
Total estimated remaining amortization expense at March 31, 2016	$	21,936

- 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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