Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2014

Goodwill and Other Intangible Assets

Note 8—Goodwill and Other Intangible Assets

The following table sets forth the changes in the carrying amount of goodwill for the years ended December 31, 2014 and 2013 (in millions):

Balance at December 31, 2012	$	115.9
Current period additions		9.2
Current period adjustments		0.8
Foreign currency impact		1.5

Balance at December 31, 2013		127.4
Current period additions		5.1
Current period adjustments		(0.1	)
Foreign currency impact		(4.6	)

Balance at December 31, 2014	$	127.8

At December 31, 2014 and 2013, all goodwill was allocated to the BSI segment. The goodwill acquired in 2014 relates to the acquisition of Vutara, Inc., high-speed, three-dimensional (3D), super-resolution fluorescence microscopy for life science applications. The goodwill acquired in 2013 relates to the acquisition of Prairie Technologies, Inc., a provider of life science fluorescence microscopy products.

At December 31, 2014 and 2013, the Company performed its annual impairment evaluation using a qualitative approach and no impairment was recorded.

The Company determined the Plan, as discussed in Note 7—Property, Plant and Equipment, was an indicator requiring the evaluation of goodwill and intangible assets within that reporting unit for recoverability. The Company performed a valuation during 2014 and determined that certain definite-lived intangible assets within the former CAM division were impaired. The Company recorded an impairment charge of $0.9 million within "Impairment of assets" in the accompanying statements of income and comprehensive income for the year ended December 31, 2014 to write-down these assets to fair value. The Company has no goodwill or indefinite-lived intangible assets attributable to the former CAM division.

The following is a summary of intangible assets at December 31, (in millions):

	2014							2013
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Existing technology and related patents	$	149.8	$	(81.7	)	$	68.1	$	157.9	$	(68.2	)	$	89.7
Customer relationships		13.4		(5.6	)		7.8		18.0		(7.8	)		10.2
Non compete conracts		1.8		(0.2	)		1.6		—		—			—
Trade names		0.2		(0.2	)		—		0.2		(0.2	)		—

Intangible assets subject to amortization		165.2		(87.7	)		77.5		176.1		(76.2	)		99.9
In-process research and development		6.3		—			6.3		5.7		—			5.7

Intangible assets	$	171.5	$	(87.7	)	$	83.8	$	181.8	$	(76.2	)	$	105.6

For the years ended December 31, 2014, 2013 and 2012, the Company recorded amortization expense of approximately $20.2 million, $20.8 million and $22.0 million, respectively, in the consolidated statements of income and comprehensive income.

The estimated future amortization expense related to amortizable intangible assets at December 31, 2014 is as follows (in millions):

2015	$	20.1
2016		19.9
2017		19.4
2018		13.5
2019		2.3
Thereafter		2.3

Total	$	77.5

- 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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