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Goodwill and Identifiable Assets (Tables)
 9 Months Ended
Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Summary of Goodwill Balances by Segment Reporting Structure

The following table shows our goodwill balances by our segment reporting structure.  We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable.  As of September 30, 2016, we did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable.

 

(In millions)

 

Food Care

 

 

Diversey Care

 

 

Product Care

 

 

Other

 

 

Total

 

Gross Carrying Value at December 31, 2015

 

$

804.3

 

 

$

1,820.9

 

 

$

1,373.7

 

 

$

1.6

 

 

$

4,000.5

 

Accumulated impairment

 

 

(208.0

)

 

 

(883.0

)

 

 

—

 

 

 

—

 

 

 

(1,091.0

)

Carrying Value at December 31, 2015

 

$

596.3

 

 

$

937.9

 

 

$

1,373.7

 

 

$

1.6

 

 

$

2,909.5

 

Acquisitions and related adjustments

 

 

8.4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8.4

 

Dispositions

 

 

—

 

 

 

—

 

 

 

(1.1

)

 

 

—

 

 

 

(1.1

)

Currency translation

 

 

(6.3

)

 

 

2.8

 

 

 

0.4

 

 

 

(0.2

)

 

 

(3.3

)

Gross Carrying Value at September 30, 2016

 

 

806.4

 

 

 

1,823.7

 

 

 

1,373.0

 

 

 

1.4

 

 

 

4,004.5

 

Accumulated impairment

 

 

(208.0

)

 

 

(883.0

)

 

 

—

 

 

 

—

 

 

 

(1,091.0

)

Carrying Value at September 30, 2016

 

$

598.4

 

 

$

940.7

 

 

$

1,373.0

 

 

$

1.4

 

 

$

2,913.5

 

 
Summary of Identifiable Intangible Assets with Definite and Indefinite Useful Lives

The following tables summarize our identifiable intangible assets with definite and indefinite useful lives.  As of September 30, 2016, there were no impairment indicators present.

 

 

 

September 30, 2016

 

 

December 31, 2015

 

 

 

Gross

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

Accumulated

 

 

Accumulated

 

 

 

 

 

 

Carrying

 

 

Accumulated

 

 

Accumulated

 

 

 

 

 

(In millions)

 

Value

 

 

Amortization

 

 

Impairment

 

 

Net

 

 

Value

 

 

Amortization

 

 

Impairment

 

 

Net

 

Customer relationships(1)

 

$

860.4

 

 

$

(300.2

)

 

$

(148.9

)

 

$

411.3

 

 

$

846.2

 

 

$

(249.4

)

 

$

(148.9

)

 

$

447.9

 

Trademarks and tradenames

 

 

1.8

 

 

 

(0.7

)

 

 

—

 

 

 

1.1

 

 

 

1.7

 

 

 

(0.4

)

 

 

—

 

 

 

1.3

 

Capitalized software

 

 

160.8

 

 

 

(134.1

)

 

 

—

 

 

 

26.7

 

 

 

143.0

 

 

 

(125.3

)

 

 

—

 

 

 

17.7

 

Technology

 

 

142.3

 

 

 

(75.3

)

 

 

(22.2

)

 

 

44.8

 

 

 

141.9

 

 

 

(65.0

)

 

 

(22.2

)

 

 

54.7

 

Contracts

 

 

38.9

 

 

 

(32.1

)

 

 

—

 

 

 

6.8

 

 

 

42.8

 

 

 

(31.2

)

 

 

—

 

 

 

11.6

 

Total intangible assets

   with definite lives

 

 

1,204.2

 

 

 

(542.4

)

 

 

(171.1

)

 

 

490.7

 

 

 

1,175.6

 

 

 

(471.3

)

 

 

(171.1

)

 

 

533.2

 

Trademarks and tradenames

   with indefinite lives(2)

 

 

881.3

 

 

 

—

 

 

 

(630.2

)

 

 

251.1

 

 

 

881.3

 

 

 

—

 

 

 

(630.2

)

 

 

251.1

 

Total identifiable

   intangible assets

 

$

2,085.5

 

 

$

(542.4

)

 

$

(801.3

)

 

$

741.8

 

 

$

2,056.9

 

 

$

(471.3

)

 

$

(801.3

)

 

$

784.3

 

 

(1)

As of September 30, 2016 this amount includes $4.3 million related to the accelerated amortization of intangible assets related to ceasing operations in Venezuela. Refer to Note 1 of the Condensed Consolidated Statement of Operations for further details.

(2)

The intangible assets include $251 million of trademarks and trade names that we have determined to have indefinite useful lives, primarily acquired in connection with the acquisition of Diversey.
Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at September 30, 2016 

 

Year

 

Amount

(in millions)

 

Remainder of 2016

 

$

21.9

 

2017

 

 

93.8

 

2018

 

 

64.0

 

2019

 

 

56.8

 

Thereafter

 

 

254.2

 

Total

 

$

490.7