Goodwill and Identifiable Intangible Assets

3 Months Ended

Mar. 31, 2012

Goodwill and Identifiable Intangible Assets [Abstract]

Goodwill and Identifiable Intangible Assets

(7) Goodwill and Identifiable Intangible Assets

Goodwill

The following table shows our goodwill balances by our segment reporting structure.

	Carrying Value  at December 31, 2011		Purchase  Price Adjustments			Impact of  Foreign Currency Translation		Carrying Value at March  31, 2012
Food Packaging	$	391.7	$	—		$	0.7	$	392.4
Food Solutions		147.9		—			0.3		148.2
Protective Packaging		1,260.0		—			2.4		1,262.4
Diversey		2,263.6		—			50.4		2,314.0
Other category		157.3		(1.2	)		0.3		156.4
Total	$	4,220.5	$	(1.2	)	$	54.1	$	4,273.4

We test goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and at other times if events or circumstances exist that indicate the carrying value of goodwill may no longer be recoverable. During the three months ended March 31, 2012, we determined that there were no events or changes in circumstances that had occurred that would indicate that the fair value of any of our reporting units may be below its carrying value.

Identifiable Intangible Assets

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives.

	March 31,							December 31,
	2012							2011
	Gross Carrying Value		Accumulated Amortization			Net		Gross Carrying Value		Accumulated Amortization			Net
Customer Relationships	$	1,048.6	$	(55.7	)	$	992.9	$	1,028.7	$	(37.9	)	$	990.8
Trademarks and tradenames		884.1		(0.5	)		883.6		882.3		(0.8	)		881.5
Technology		235.7		(43.8	)		191.9		230.2		(33.4	)		196.8
Contracts		42.8		(8.3	)		34.5		40.2		(6.1	)		34.1
Total	$	2,211.2	$	(108.3	)	$	2,102.9	$	2,181.4	$	(78.2	)	$	2,103.2

These intangible assets include $911 million of intangible assets that we have determined to have indefinite useful lives, which primarily includes intangible assets acquired in connection with the acquisition of Diversey.

Below is the amortization expense of our intangible assets.

	Three Months Ended March 31,
	2012		2011
Amortization expense of intangible assets acquired	$	34.2	$	2.5

The following table shows the remaining estimated future amortization expense at March 31, 2012.

2012	$	101.5
2013		133.8
2014		132.2
2015		104.3
2016		98.5
2017		97.3
Thereafter		524.0
Total	$	1,191.6