Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in the carrying amount of goodwill attributable to each reportable business segment follow:



(in millions)	U.S. Packaging Segment		Global Packaging Segment		Total
Reported balance at December 31, 2015	$	632.1	$	317.4	$	949.5
Acquisition and acquisition adjustments	—		63.2		63.2
Currency translation	0.5		24.0		24.5
Reported balance at September 30, 2016	$	632.6	$	404.6	$	1,037.2

Acquisition and acquisition adjustments are comprised of opening balance sheet adjustments related to the Emplal Participações S. A. and SteriPack acquisitions.

The components of amortized intangible assets follow:



	September 30, 2016					December 31, 2015
(in millions)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Contract based	$	9.5	$	(1.2	)	$	10.0	$	(1.2	)
Technology based	79.7		(50.9		)	79.6		(47.5		)
Marketing related	14.2		(8.9		)	12.7		(7.8		)
Customer based	206.1		(86.9		)	180.4		(76.4		)
Reported balance	$	309.5	$	(147.9	)	$	282.7	$	(132.9	)

Amortization expense for intangible assets was $11.6 million and $10.3 million during the first nine months of 2016 and 2015, respectively. Estimated amortization expense is $4.0 million for the remainder of 2016, $16.1 million for 2017 and 2018, $15.9 million for 2019, $15.0 million for 2020, and $13.8 million for 2021. The Company does not have any accumulated impairment losses.

- 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.

+ References + Details