GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in goodwill for the nine months ended September 30, 2012 and for the year ended December 31, 2011 are as follows:



	September 30, 2012		December 31, 2011
Balance at beginning of period	$	5,795,765	$	5,101,938
Goodwill acquired during the period	28,144		701,087
Increase (decrease) related to foreign currency translation	13,270		(7,260		)
Balance at end of period	$	5,837,179	$	5,795,765

Approximately 90% of the Company’s goodwill as of September 30, 2012 and December 31, 2011 was associated with its clinical testing business.

For the nine months ended September 30, 2012, goodwill acquired was principally associated with the acquisition of S.E.D. Medical Laboratories. Of the all-cash purchase price of $50.5 million, approximately $28 million and $19 million, respectively, represented goodwill, which is deductible for tax purposes, and intangible assets, principally comprised of customer-related intangibles.

For the year ended December 31, 2011, goodwill acquired was principally associated with the Athena Diagnostics ("Athena") and Celera Corporation ("Celera") acquisitions. A full description of the Company’s acquisitions is contained in Note 4 to the Consolidated Financial Statements in the Company’s 2011 Annual Report on Form 10-K.

Intangible assets at September 30, 2012 and December 31, 2011 consisted of the following:



	Weighted Average Amortization Period	September 30, 2012							December 31, 2011
		Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Amortizing intangible assets:
Customer-related intangibles	19 years	$	650,739	$	(218,838	)	$	431,901	$	630,671	$	(193,131	)	$	437,540
Non-compete agreements	4 years	46,174		(22,366		)	23,808		45,798		(14,633		)	31,165
Technology	14 years	172,167		(39,622		)	132,545		165,113		(27,929		)	137,184
Other	8 years	149,752		(40,086		)	109,666		146,613		(23,552		)	123,061
Total	16 years	1,018,832		(320,912		)	697,920		988,195		(259,245		)	728,950

Intangible assets not subject to amortization:
Tradenames		303,320		—			303,320		300,648		—			300,648
In-process research and development		120		—			120		5,250		—			5,250
Other		1,159		—			1,159		764		—			764
Total intangible assets		$	1,323,431	$	(320,912	)	$	1,002,519	$	1,294,857	$	(259,245	)	$	1,035,612

Amortization expense related to intangible assets was $20.0 million and $19.4 million for the three months ended September 30, 2012 and 2011, respectively. For the nine months ended September 30, 2012 and 2011, amortization expense related to intangible assets was $60.4 million and $47.8 million, respectively.

The estimated amortization expense related to amortizable intangible assets for each of the five succeeding fiscal years and thereafter as of September 30, 2012 is as follows:



Fiscal Year Ending December 31,
Remainder of 2012	$	19,954
2013	78,643
2014	76,287
2015	64,925
2016	58,215
2017	53,635
Thereafter	346,261
Total	$	697,920

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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