Goodwill and Other Intangible Assets

3 Months Ended

Mar. 31, 2014

Notes to Financial Statements [Abstract]

Goodwill and Intangible Assets Disclosure [Text Block]

6.	Goodwill and Other Intangible Assets

The carrying value of goodwill by segment was as follows (in thousands):

	Industrial Technology		Energy Systems & Controls			Medical & Scientific Imaging			RF Technology		Total
Balances at December 31, 2013	$	425,501	$	434,697		$	2,435,506		$	1,254,294	$	4,549,998
Other		-		-			(2,266	)		-		(2,266	)
Currency translation adjustments		591		(294	)		(8,062	)		55		(7,710	)
Balances at March 31, 2014	$	426,092	$	434,403		$	2,425,178		$	1,254,349	$	4,540,022

Other relates to a tax purchase accounting adjustment for MHA, Inc., acquired in May 2013.

Other intangible assets were comprised of (in thousands):

	Cost		Accumulated amortization			Net book value
Assets subject to amortization:
Customer related intangibles	$	1,936,336	$	(464,018	)	$	1,472,318
Unpatented technology		216,044		(120,091	)		95,953
Software		160,618		(58,084	)		102,534
Patents and other protective rights		31,394		(21,922	)		9,472
Trade names		656		(16	)		640
Assets not subject to amortization:
Trade names		358,219		-			358,219
Balances at December 31, 2013	$	2,703,267	$	(664,131	)	$	2,039,136
Assets subject to amortization:
Customer related intangibles	$	1,933,576	$	(491,047	)	$	1,442,529
Unpatented technology		209,107		(120,104	)		89,003
Software		152,441		(53,116	)		99,325
Patents and other protective rights		29,699		(20,589	)		9,110
Trade names		663		(32	)		631
Assets not subject to amortization:
Trade names		357,326		-			357,326
Balances at March 31, 2014	$	2,682,812	$	(684,888	)	$	1,997,924

Amortization expense of other intangible assets was $38,049 and $33,084 during the three months ended March 31, 2014 and 2013, respectively.

An evaluation of the carrying value of goodwill and indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2014. The Company expects to perform the annual analysis during the fourth quarter.

- 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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