Goodwill and Intangible Assets, Net

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets, Net [Abstract]

NOTE 9. GOODWILL AND INTANGIBLE ASSETS, NET

Intangible assets other than goodwill consisted of the following (in thousands):


	December 31, 2015				December 31, 2014
		Cost		Accumulated Amortization		Cost		Accumulated Amortization
Patents	$	2,192	$	1,907	$	4,871	$	4,308
Product rights (1)		35,318		22,976		36,912		20,657
Customer-related intangible assets (2)		86,806		44,232		88,494		40,933
Noncompete agreements		1,413		705		1,125		382
	$	125,729	$	69,820	$	131,402	$	66,280

(1)

Product rights comprise certain technologies, licenses and trade names acquired from third parties.

(2)

Customer-related intangible assets are comprised of customer lists and customer relationships acquired from third parties.

Amortization expense of intangible assets other than goodwill was $10.4 million, $9.8 million and $9.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. The decrease in intangible assets other than goodwill during the twelve months ended December 31, 2015 was driven by amortization expense and changes in foreign currency exchange rates, partly offset by intangibles recognized in connection with the acquisition of businesses.

At December 31, 2015, the aggregate amortization expense associated with intangible assets is estimated to be as follows for each of the next five years and thereafter (in thousands):


	Amortization Expense

2016	$	9,952
2017		9,144
2018		7,854
2019		6,541
2020		5,123
Thereafter		17,295
	$	55,909

The decrease in goodwill during the twelve months ended December 31, 2015 resulted from changes in foreign currency exchange rates, partly offset by goodwill recognized in connection with the acquisition of businesses. See Note 3 for information regarding goodwill and other intangible assets recognized in connection with the acquisition of businesses and other assets during the years ended December 31, 2015, 2014 and 2013.

The changes in the carrying amount of goodwill for the years ended December 31, 2015, 2014, and 2013 were as follows (in thousands):


		CAG		Water		LPD		Other		Consolidated Total
Balance as of December 31, 2012	$	143,155	$	14,179	$	11,129	$	6,531	$	174,994
Business Combinations		250		-		6,491		-		6,741
Impact of Changes in Foreign Currency Exchange Rates		(1,997)		336		447		-		(1,214)
Balance as of December 31, 2013	$	141,408	$	14,515	$	18,067	$	6,531	$	180,521
Business Combinations		13,077		-		-		-		13,077
Impact of Changes in Foreign Currency Exchange Rates		(6,334)		(826)		(1,988)		-		(9,148)
Balance as of December 31, 2014	$	148,151	$	13,689	$	16,079	$	6,531	$	184,450
Business Combinations		5,047		-		-		-		5,047
Impact of Changes in Foreign Currency Exchange Rates		(8,007)		(651)		(1,905)		-		(10,563)
Balance as of December 31, 2015	$	145,191	$	13,038	$	14,174	$	6,531	$	178,934

- 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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