Goodwill and Identifiable Intangible Assets

6 Months Ended

Jun. 30, 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 June 30, 2012
Food Packaging	$	391.7	$	—		$	(0.4	)	$	391.3
Food Solutions		147.9		—			(0.1	)		147.8
Protective Packaging		1,260.0		—			(1.6	)		1,258.4
Diversey		2,263.6		—			(32.9	)		2,230.7
Other category		157.3		(1.2	)		(0.1	)		156.0
Total	$	4,220.5	$	(1.2	)	$	(35.1	)	$	4,184.2

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 six months ended June 30, 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.

	June 30, 2012							December 31, 2011
	Gross Carrying Value		Accumulated Amortization			Net		Gross Carrying Value		Accumulated Amortization			Net
Customer relationships	$	1,005.7	$	(76.5	)	$	929.2	$	1,028.7	$	(37.9	)	$	990.8
Trademarks and trade names		877.3		(0.5	)		876.8		882.3		(0.8	)		881.5
Technology		235.6		(55.4	)		180.2		230.2		(33.4	)		196.8
Contracts		43.8		(10.4	)		33.4		40.2		(6.1	)		34.1
Total	$	2,162.4	$	(142.8	)	$	2,019.6	$	2,181.4	$	(78.2	)	$	2,103.2

These intangible assets include $899 million of intangible assets that we have determined to have indefinite useful lives, which primarily include $877 million of trademarks and trade names acquired in connection with the acquisition of Diversey and $22 million of in-process research and development primarily acquired in an acquisition in 2010.

The following table shows the remaining estimated future amortization expense at June 30, 2012.

2012	$	67.7
2013		134.3
2014		132.6
2015		104.3
2016		98.8
2017		97.6
Thereafter		485.4
Total	$	1,120.7