XML 28 R17.htm IDEA: XBRL DOCUMENT v3.19.2
Goodwill and Identifiable Intangible Assets, net
6 Months Ended
Jun. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Identifiable Intangible Assets, net Goodwill and Identifiable Intangible Assets, net
Goodwill
The following table shows our goodwill balances by reportable segment. 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 June 30, 2019, we did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable.
(In millions)
 
Food Care
 
Product Care
 
Total
Gross Carrying Value at December 31, 2018
 
$
568.9

 
$
1,568.9

 
$
2,137.8

Accumulated impairment(1)
 
(49.2
)
 
(141.0
)
 
(190.2
)
Carrying Value at December 31, 2018
 
$
519.7

 
$
1,427.9

 
$
1,947.6

Acquisition, purchase price and other adjustments
 
6.0

 
3.1

 
9.1

Currency translation
 
0.1

 
0.4

 
0.5

Carrying Value at June 30, 2019
 
$
525.8

 
$
1,431.4

 
$
1,957.2


 

(1) 
There has been no change to our accumulated impairment balance as of June 30, 2019.
Identifiable Intangible Assets, net
The following tables summarize our identifiable intangible assets, net. As of June 30, 2019, there were no impairment indicators present.
 
June 30, 2019
 
December 31, 2018
(In millions)
Gross
Carrying Value
 
Accumulated Amortization
 
Net
 
Gross
Carrying Value
 
Accumulated Amortization
 
Net
Customer relationships
$
69.8

 
$
(24.0
)
 
$
45.8

 
$
72.4

 
$
(22.3
)
 
$
50.1

Trademarks and tradenames
15.6

 
(2.5
)
 
13.1

 
15.1

 
(1.6
)
 
13.5

Capitalized software
72.0

 
(55.1
)
 
16.9

 
62.2

 
(49.8
)
 
12.4

Technology
37.3

 
(24.4
)
 
12.9

 
37.2

 
(23.5
)
 
13.7

Contracts
13.2

 
(10.3
)
 
2.9

 
13.2

 
(10.1
)
 
3.1

Total intangible assets with definite lives
207.9

 
(116.3
)
 
91.6

 
200.1

 
(107.3
)
 
92.8

Trademarks and tradenames with indefinite lives
8.9

 

 
8.9

 
8.9

 

 
8.9

Total identifiable intangible assets, net
$
216.8

 
$
(116.3
)
 
$
100.5

 
$
209.0

 
$
(107.3
)
 
$
101.7


The following table shows the remaining estimated future amortization expense at June 30, 2019
Year
Amount
(in millions)
Remainder of 2019
$
7.9

2020
15.0

2021
11.7

2022
7.9

Thereafter
49.1

Total
$
91.6