Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2010

Goodwill and Other Intangible Assets [Abstract]

Note 7 — Goodwill and other intangible assets

Changes in the carrying amount of goodwill, by reporting segment, for 2010 and 2009 are as follows:


	Medical			Aerospace			Commercial			Total
	(Dollars in thousands)
Balance as of January 1, 2010
Goodwill	$	1,444,354		$	6,728		$	15,087		$	1,466,169
Accumulated impairment losses		—			(6,728	)		—			(6,728	)

		1,444,354			—			15,087			1,459,441
Goodwill related to dispositions		(9,224	)		—			(7,597	)		(16,821	)
Adjustments		(180	)		—			—			(180	)
Translation adjustment		(29	)		—			—			(29	)

Balance as of December 31, 2010
Goodwill		1,434,921			6,728			7,490			1,449,139
Accumulated impairment losses		—			(6,728	)		—			(6,728	)

	$	1,434,921		$	—		$	7,490		$	1,442,411


	Medical			Aerospace			Commercial			Total
	(Dollars in thousands)
Balance as of January 1, 2009
Goodwill	$	1,426,031		$	6,996		$	57,544		$	1,490,571
Accumulated impairment losses		—			—			(16,448	)		(16,448	)

		1,426,031			6,996			41,096			1,474,123
Discontinued operation impairment loss		—			(6,728	)		—			(6,728	)
Goodwill related to acquisitions		214			—			—			214
Goodwill related to dispositions		—			(268	)		(26,009	)		(26,277	)
Adjustments⁽¹⁾		(3,093	)		—			—			(3,093	)
Translation adjustment		21,202			—			—			21,202

Balance as of December 31, 2009
Goodwill		1,444,354			6,728			15,087			1,466,169
Accumulated impairment losses		—			(6,728	)		—			(6,728	)

	$	1,444,354		$	—		$	15,087		$	1,459,441


(1)		Goodwill adjustments relate primarily to the finalization of the purchase price allocation for the Arrow acquisition.

Intangible assets at year end consisted of the following:


	Gross Carrying Amount				Accumulated Amortization
	2010		2009		2010		2009
	(Dollars in thousands)
Customer lists	$	553,923	$	559,207	$	98,013	$	74,047
Intellectual property		207,248		208,247		77,166		59,824
Distribution rights		16,728		22,094		13,016		17,066
Trade names		332,049		336,673		3,231		3,708

	$	1,109,948	$	1,126,221	$	191,426	$	154,645

Amortization expense related to intangible assets was $43.1 million, $43.5 million, and $43.6 million for 2010, 2009 and 2008, respectively. Estimated annual amortization expense for each of the five succeeding years is as follows:


	(Dollars in thousands)
2011	$	42,600
2012		42,400
2013		41,600
2014		37,400
2015		31,500

- Definition

Discloses 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 or 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. This element may be used as a single block of text to include the entire intangible asset disclosure including data and tables.

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