Quarterly report pursuant to Section 13 or 15(d)

Intangible Assets and Goodwill (Notes)

v3.6.0.2
Intangible Assets and Goodwill (Notes)
3 Months Ended
Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets Disclosure [Text Block]
Intangible Assets and Goodwill

Intangible Assets

Intangible assets are stated at the lower of cost or fair value.  With the exception of most trade names, intangible assets are amortized on a straight-line basis over periods ranging from three to 21 years, representing the period over which we expect to receive future economic benefits from these assets.  We assess the carrying value of most trade names annually, or more often if events or changes in circumstances indicate there may be impairment.  

The following tables summarize the carrying amounts and related accumulated amortization for intangible assets as of December 31, 2016 and September 30, 2016.
 

 
December 31, 2016
 
September 30, 2016
 
Cost
 
Accumulated
Amortization
 
Cost
 
Accumulated
Amortization
Finite-lived assets:
 

 
 

 
 

 
 

Trade names
$
0.2

 
$
(0.1
)
 
$
0.2

 
$
(0.1
)
Customer relationships
448.1

 
(104.0
)
 
459.5

 
(100.7
)
Technology, including patents
75.1

 
(34.0
)
 
77.9

 
(33.3
)
Software
47.3

 
(40.0
)
 
47.4

 
(39.8
)
Other
0.4

 
(0.3
)
 
0.4

 
(0.3
)
 
571.1

 
(178.4
)
 
585.4

 
(174.2
)
Indefinite-lived assets:
 

 
 

 
 

 
 

Trade names
127.2

 

 
130.3

 

 
 
 
 
 
 
 
 
Total
$
698.3

 
$
(178.4
)
 
$
715.7

 
$
(174.2
)


The net change in intangible assets during the three months ended December 31, 2016 was driven by normal amortization and foreign currency adjustments.

Goodwill

Goodwill is not amortized, but is subject to annual impairment tests.  Goodwill has been assigned to reporting units.  We assess the carrying value of goodwill annually, or more often if events or changes in circumstances indicate there may be impairment.  Impairment testing is performed at a reporting unit level.

 
Process
Equipment
Group
 
Batesville
 
Total
Balance September 30, 2016
$
626.0

 
$
8.3

 
$
634.3

Foreign currency adjustments
(18.0
)
 

 
(18.0
)
Balance December 31, 2016
$
608.0

 
$
8.3

 
$
616.3