XML 26 R15.htm IDEA: XBRL DOCUMENT v3.8.0.1
GOODWILL AND INTANGIBLE ASSETS, NET
9 Months Ended
Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL
GOODWILL AND INTANGIBLE ASSETS, NET

An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
 
    AWP
 
    Cranes
 
MP
 
Total
Balance at December 31, 2016, gross
$
137.7

 
$
179.3

 
$
183.8

 
$
500.8

Accumulated impairment
(38.6
)
 
(179.3
)
 
(23.2
)
 
(241.1
)
Balance at December 31, 2016, net
99.1

 

 
160.6

 
259.7

Foreign exchange effect and other
2.2

 

 
10.3

 
12.5

Balance at September 30, 2017, gross
139.9

 
179.3

 
194.1

 
513.3

Accumulated impairment
(38.6
)
 
(179.3
)
 
(23.2
)
 
(241.1
)
Balance at September 30, 2017, net
$
101.3

 
$

 
$
170.9

 
$
272.2



Intangible assets, net were comprised of the following as of September 30, 2017 and December 31, 2016 (in millions):
 
 
 
September 30, 2017
 
December 31, 2016
 
Weighted Average Life
(in years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Definite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Technology
7
 
$
18.6

 
$
(17.5
)
 
$
1.1

 
$
17.0

 
$
(15.7
)
 
$
1.3

Customer Relationships
20
 
33.0

 
(26.0
)
 
7.0

 
33.1

 
(25.2
)
 
7.9

Land Use Rights
82
 
4.7

 
(0.6
)
 
4.1

 
7.9

 
(0.9
)
 
7.0

Other
8
 
26.5

 
(24.5
)
 
2.0

 
25.8

 
(23.6
)
 
2.2

Total definite-lived intangible assets
 
 
$
82.8

 
$
(68.6
)
 
$
14.2

 
$
83.8

 
$
(65.4
)
 
$
18.4



 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
(in millions)
2017
 
2016
 
2017
 
2016
Aggregate Amortization Expense
$
0.5

 
$
0.7

 
$
1.5

 
$
2.1



Estimated aggregate intangible asset amortization expense (in millions) for each of the next five years below is:
2017
$
2.0

2018
$
1.8

2019
$
1.7

2020
$
1.7

2021
$
1.6