Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2016

Note 8—Goodwill and Intangible Assets

Goodwill

The following table sets forth the changes in the carrying amount of goodwill for the years ended December 31, 2016, 2015 and 2014 (in millions):

Balance at December 31, 2013	$	127.4
Current period additions/adjustments		5.0
Foreign currency impact		(4.6	)

Balance at December 31, 2014	$	127.8
Current period additions/adjustments		6.8
Impairment		(0.7	)
Foreign currency impact		(3.3	)

Balance at December 31, 2015		130.6
Current period additions/adjustments		1.0
Foreign currency impact		(1.0	)

Balance at December 31, 2016	$	130.6

At December 31, 2016 and 2015, all goodwill was allocated within the BSI Segment. During the year ended December 31, 2015, the Company recorded an impairment charge of $0.7 million representing the impairment of goodwill in the Bruker BioSpin Group related to certain restructuring and outsourcing activities during the year. The Company performed its annual impairment evaluation using a qualitative approach at December 31, 2016 and 2014 and a quantitative approach at December 31, 2015 and concluded it was more likely than not that goodwill has not been impaired. Based on the most recent quantitative analysis the fair values of each of our reporting units was significantly greater than their carrying amounts, and therefore, no additional impairment was required.

Intangible Assets

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

	2016							2015
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Existing technology and related patents	$	169.0	$	(113.9	)	$	55.1	$	154.5	$	(95.5	)	$	59.0
Customer relationships		20.0		(7.9	)		12.1		18.4		(5.9	)		12.5
Non compete conracts		1.8		(1.1	)		0.7		1.8		(0.6	)		1.2
Trade names		1.6		(0.4	)		1.2		1.6		(0.2	)		1.4

Intangible assets subject to amortization		192.4		(123.3	)		69.1		176.3		(102.2	)		74.1
In-process research and development		0.6		—			0.6		0.6		—			0.6

Intangible assets	$	193.0	$	(123.3	)	$	69.7	$	176.9	$	(102.2	)	$	74.7

For the years ended December 31, 2016, 2015 and 2014, the Company recorded amortization expense of approximately $21.7 million, $20.7 million and $20.2 million, respectively, in the consolidated statements of income and comprehensive income (loss). During the year ended December 31, 2015, the Company recorded an impairment charge of $1.8 million representing the impairment of intangible assets in the Bruker BioSpin Group related to certain restructuring and outsourcing activities during the year.

The estimated future amortization expense related to amortizable intangible assets at December 31, 2016 is as follows (in millions):

2017	$	24.4
2018		20.0
2019		8.2
2020		7.3
2021		6.5
Thereafter		2.7

Total	$	69.1

- 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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