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## Notes to CoNsolidated FiNaNCial statemeNts 

## Note 7 – Goodwill and Other Intangible Assets (continued) 

Year ended December 31, 2010: 

<img src='content_image/150264.jpg'>

The change related to acquisitions in 2010 reflects the purchase price allocation for the QM Bearing acquisition completed on September 21, 2010 and the City Scrap acquisition completed on December 31, 2010. “Other” primarily includes foreign currency translation adjustments for 2010. 

The following table displays intangible assets as of December 31: 

<img src='content_image/150263.jpg'>

Intangible assets subject to amortization are amortized on a straight-line method over their legal or estimated useful lives, with useful lives ranging from two years to 20 years. Intangible assets acquired were $111.4 million for the Philadelphia Gear acquisition and $35.5 million for the Drives acquisition. Intangible assets subject to amortization acquired in 2011 were assigned useful lives of five to 20 years and had a weighted average amortization period of 16.7 years. 

Amortization expense for intangible assets was $14.0 million, $9.4 million and $12.8 million for the years ended December 31, 2011, 2010 and 2009, respectively. Amortization expense for intangible assets is estimated to be approximately $18.9 million in 2012; $17.5 million in 2013; $17.3 million in 2014; $17.2 million in 2015 and $16.8 million in 2016. 

