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Intangible Assets and Goodwill (Tables)
12 Months Ended
Dec. 31, 2013
Intangible Assets and Goodwill [Abstract]  
Components of intangible assets
Intangible assets consisted of the following at December 31: 
 
 
2013
 
2012
(in millions)
 
Assigned Value
 
Accumulated
Amortization
 
Net Book
Value
 
Assigned Value
 
Accumulated
Amortization
 
Net Book
Value
Amortizable Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Clearing firm, market data and other customer relationships
 
$
2,838.8

 
$
(563.2
)
 
$
2,275.6

 
$
2,838.8

 
$
(467.4
)
 
$
2,371.4

Lease-related intangibles
 
2.2

 
(0.6
)
 
1.6

 
25.4

 
(8.2
)
 
17.2

Technology-related intellectual property
 
33.8

 
(19.8
)
 
14.0

 
29.4

 
(14.4
)
 
15.0

Trade name
 
0.2

 
(0.2
)
 

 
0.2

 
(0.1
)
 
0.1

Total amortizable intangible assets
 
$
2,875.0


$
(583.8
)
 
2,291.2

 
$
2,893.8

 
$
(490.1
)
 
2,403.7

 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite-Lived Intangible Assets:
 
 
 
 
 
 
 
 
 
 
 
 
Trade names
 
 
 
 
 
450.0

 
 
 
 
 
450.0

Total intangible assets—other, net
 
 
 
 
 
$
2,741.2

 
 
 
 
 
$
2,853.7

Trading products (1)
 
 
 
 
 
$
17,175.3

 
 
 
 
 
$
17,175.3

 _______________
(1)
Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc. (CBOT Holdings), KCBT and NYMEX Holdings, Inc. (NYMEX Holdings). Clearing and transaction fees revenues are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the CFTC. Product authorizations from the CFTC have no term limits.
Weighted average useful life for the amortizable intangible assets
The originally assigned useful lives for the amortizable intangible assets as of December 31, 2013 are as follows:
 
 
Clearing firm, market data and other customer relationships
5-30 years
Lease-related intangible assets
24.5 years
Technology-related intellectual property
4-5 years
Trade name
3 years
Future estimated amortization expense
As of December 31, 2013, the future estimated amortization expense related to amortizable intangible assets is expected to be as follows:  
(in millions)
 
2014
$
100.8

2015
100.6

2016
97.2

2017
96.3

2018
94.7

Thereafter
1,801.6

Goodwill activity
Goodwill activity consisted of the following for the years ended December 31, 2013 and 2012: 
(in millions)
 
Balance at December 31, 2012
 
Business
Combinations
 
Divestitures
 
Other
Activity
 
Balance at December 31, 2013
CBOT Holdings
 
$
5,035.7

 
$

 
$

 
$

 
$
5,035.7

NYMEX Holdings
 
2,462.2

 

 

 

 
2,462.2

Other
 
69.0

 

 

 
2.1

 
71.1

Total Goodwill
 
$
7,566.9

 
$

 
$

 
$
2.1

 
$
7,569.0

(in millions)
 
Balance at December 31, 2011
 
Business
Combinations
 
Divestitures
 
Other
Activity
 
Balance at December 31, 2012
CBOT Holdings
 
$
5,035.7

 
$

 
$

 
$

 
$
5,035.7

NYMEX Holdings
 
2,462.2

 

 

 

 
2,462.2

Index Services
 
434.5

 

 
(434.5
)
 

 

Other
 
51.6

 
46.3

 
(28.9
)
 

 
69.0

Total Goodwill
 
$
7,984.0

 
$
46.3

 
$
(463.4
)
 
$

 
$
7,566.9