Note 14: GOODWILL AND OTHER INTANGIBLE ASSETS
During 2008, the Company completed the required goodwill and intangible asset impairment tests. No impairment losses were identified as a
result of these tests. Changes in the Company’s carrying amount of goodwill by business segment were as follows:
| (In thousands) |
November 30,
2007 |
Acquisition/Disposition |
Foreign Currency
Translation Adjustments |
November 30,
2008 |
| |
Fiberglass - Composite
Pipe |
$ 1,440 |
— |
- |
$ 1,440 |
| |
Water Transmission |
392 |
(32) |
- |
360 |
| |
Infrastructure
Products |
201 |
— |
- |
201 |
|
| Total |
$ 2,033 |
$ (32) |
— |
$ 2,001 |
|
The Company's intangible assets, other than goodwill, and related accumulated amortization consisted of the following:
| |
|
November 30, 2008 |
November 30, 2007 |
| |
|
|
|
| |
(In thousands) |
Gross Intangible Assets |
Accumulated
Amortization |
Gross Intangible
Assets |
Accumulated
Amortization |
|
| Continuing Operations |
| |
Trademarks |
$ 111 |
$ (106) |
$ 113 |
$ (101) |
| |
Non - Compete Agreements |
282 |
(186) |
299 |
(163) |
| |
Patents |
212 |
(212) |
212 |
(212) |
| |
Others |
64 |
(58) |
79 |
(17) |
|
| |
Total |
$ 669 |
$ (562) |
$ 703 |
$ (493) |
|
All of the Company's intangible assets, other than goodwill, are subject to amortization. Amortization expense related to intangible assets for
the years ended November 30, 2008, 2007, and 2006 was $89,000, $41,000, and $170,000, respectively. At November 30, 2008, estimated future
amortization expense for each year in the four-year period ending November 30, 2012 was as follows: $45,000 for 2009, $35,000 for 2010,
$17,000 for 2011, and $10,000 for 2012. Amortizing intangible assets will be fully amortized by November 30, 2012.
|