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INTANGIBLES
6 Months Ended
Jun. 30, 2013
INTANGIBLES

5. INTANGIBLES

The change in the carrying amount of goodwill by segment for the six months ended June 30, 2013 is as follows:

 

In thousands

  

Freight
Segment

 

  

Transit
Segment

 

  

Total

 

Balance at December 31, 2012             

  

$

  397,184

  

  

$

  268,838

  

  

$

  666,022

  

Acquisition             

  

 

  60,115

  

  

 

-

  

  

 

  60,115

  

Adjustment to preliminary purchase allocation             

  

 

  (43

)  

  

 

  912

  

  

 

  869

  

Foreign currency impact             

  

 

(7,340

)  

  

 

(4,712

)  

  

 

(12,052

)  

Balance at June 30, 2013             

  

$

  449,916

  

  

$

  265,038

  

  

$

  714,954

  

As of June 30, 2013 and December 31, 2012, the Company’s trademarks had a net carrying amount of $138.5 million and $131.3 million, respectively, and the Company believes these intangibles have an indefinite life.

Intangible assets of the Company, other than goodwill and trademarks, consist of the following:

 

In thousands

  

June 30,
2013

 

  

December 31,
2012

 

Patents and other, net of accumulated amortization of $36,121 and
$35,556             

  

$

  12,250

  

  

$

  11,835

  

Customer relationships, net of accumulated amortization of $37,571 and $31,572             

  

 

  179,059

  

  

 

  165,160

  

Total             

  

$

  191,309

  

  

$

  176,995

  

The weighted average remaining useful life of patents, customer relationships and intellectual property were six years, 16 years and 16 years, respectively. Amortization expense for intangible assets was $5.2 million and $8.8 million for the three and six months ended June 30, 2013, respectively, and $3.3 million and $6.3 million for the three and six months ended June 30, 2012, respectively.

Amortization expense for the five succeeding years is as follows (in thousands):

 

Remainder of 2013             

$

  8,035

  

2014             

 

  15,295

  

2015             

 

  14,259

  

2016             

 

  14,106

  

2017             

 

  12,584