GOODWILL AND OTHER INTANGIBLE ASSETS
 3 Months Ended
Mar. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS
GOODWILL AND OTHER INTANGIBLE ASSETS:
Goodwill. The Company does not amortize goodwill; however, the carrying amount of goodwill is tested at least annually for impairment. Absent any events throughout the year which would indicate a potential impairment has occurred, the Company performs its annual impairment testing during the fourth quarter.
While there were no impairments during the first three months of 2015, uncertainties or other factors that could result in a potential impairment in future periods include:
 
•
the Company’s ability to improve the operational performance of its Medical Device Fabrication reporting unit,
•
unfavorable changes in program pricing, reductions in expected demand, or future production delays related to the Boeing 787 Pi Box program, and
•
any cancellation of one of the other major aerospace programs in which the Company currently participates, including the Joint Strike Fighter program, the Airbus family of aircraft, including the A380 and A350XWB programs, or the Boeing 747-8 program.
At both March 31, 2015 and December 31, 2014, the EP&S Segment had accumulated goodwill impairment losses of $22,858, while the Titanium Segment had no accumulated goodwill impairment losses. The carrying amounts of goodwill attributable to each segment at December 31, 2014 and March 31, 2015 were as follows:
 
 
Titanium
Segment
 
Engineered
Products and
Services
Segment
 
Total
December 31, 2014
 
$
23,873

 
$
121,645

 
$
145,518

Translation adjustment
 
—

 
(1,005
)
 
(1,005
)
March 31, 2015
 
$
23,873

 
$
120,640

 
$
144,513


Intangibles. Intangible assets consist primarily of customer relationships, trade names, and developed technology acquired through various business combinations. The fair values of these intangible assets were originally determined at acquisition. In the event that long-term demand or market conditions change and the expected future cash flows associated with these assets are reduced, a write-down or acceleration of the amortization period may be required. Trade names are not amortized, as the Company believes that these assets have an indefinite life as the Company currently intends to continue use of the Remmele and Directed Manufacturing names indefinitely. Other intangible assets are being amortized over the following periods:
Intangible Asset
Amortization
Period
Customer relationships
7-20 years
Developed technology
7-20 years
Backlog
2 years or less

The carrying amounts of intangible assets attributable to each segment at December 31, 2014 and March 31, 2015 were as follows:
 
 
Titanium
Segment
 
Engineered
Products and
Services
Segment
 
Total
December 31, 2014
 
$
3,800

 
$
53,322

 
$
57,122

Amortization
 
(171
)
 
(1,097
)
 
(1,268
)
Translation adjustment
 
—

 
(723
)
 
(723
)
March 31, 2015
 
$
3,629

 
$
51,502

 
$
55,131