Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2017

Goodwill And Intangible Assets Disclosure [Abstract]

2. GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill and other intangible assets are reviewed for impairment annually or more frequently if certain indicators arise. In addition, the statement requires reassessment of the useful lives of previously recognized intangible assets.

The Company uses a two-step process for impairment testing of goodwill. During the fourth quarter in each of 2017, 2016 and 2015, the Company performed the annual test for impairment of its reporting units and there was no impairment of goodwill. The following table summarizes goodwill activity for the three years in the period ended December 31, 2017 (in millions):

			Accumulated			Goodwill,
	Goodwill		Impairments			Net
Balance at January 1, 2015	$	18.1	$	(11.8	)	$	6.3
No activity in 2015		—		—			—
Balance at December 31, 2015		18.1		(11.8	)		6.3
Addition in 2016		3.2		—			3.2
Balance at December 31, 2016		21.3		(11.8	)		9.5
No activity in 2017		—		—			—
Balance at December 31, 2017	$	21.3	$	(11.8	)	$	9.5

Information regarding the Company’s other amortizable intangible assets is as follows (in millions):

					Accumulated
	Cost				Amortization
	2017		2016		2017		2016

Customer relationships	$	4.9	$	4.9	$	1.5	$	1.1
Trademarks		1.6		1.6		0.5		0.2
Other		1.6		1.6		0.9		0.4
Total amortizable intangible assets (1)	$	8.1	$	8.1	$	2.9	$	1.7

(1)	Amortizable intangible assets are included in “Other Assets.”

Customer relationships are amortized over 15 to 16 years. Trademarks are amortized over five years and other intangibles are amortized over three years. The Company recorded amortization expense of $1.2 million, $0.9 million and $0.1 million for the years ended December 31, 2017, 2016, 2015, respectively.

The estimated intangible asset amortization expense, by year and in the aggregate, consisted of the following at December 31, 2017 (in millions):

	Amortization
2018	$	1.2
2019		0.8
2020		0.6
2021		0.3
2022		0.2
Thereafter		2.1
Total	$	5.2

- 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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