Flowserve FLS FCD — Goodwill

The excess of the acquisition date fair value of the total purchase price over the estimated fair value of the net assets was recorded as goodwill. Goodwill of $322.4 million represents the value expected to be obtained from expanding Flowserve's reach in both conventional and emerging markets by integrating TVD's highly specialized valve and actuation product portfolio, differentiated power and nuclear technology, and scalable service offerings with Flowserve's existing product portfolio and services. The goodwill related to this acquisition is recorded in the FCD and FPD segments with a preliminary allocation of $274.1 million and $48.3 million to FCD and FPD, respectively. The deductibility of goodwill for tax purposes is still being evaluated. The intangible assets have been assigned a useful life on a preliminary basis. Trademarks have an expected indefinite life, customer relationships have an expected useful life between 12 and 14 years and backlog has an expected useful life of one year. In total, amortizable intangible assets have a weighted average useful life of approximately 11 years.