Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2014

Goodwill And Intangible Assets Disclosure [Abstract]

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company carries goodwill reflected in the table below:


	Goodwill
(in thousands)

Goodwill at December 31, 2013	$	1,813,164
Changes to goodwill ⁽¹⁾		(254,233	)
Foreign exchange translation adjustment		2,189


Goodwill at June 30, 2014	$	1,561,120

⁽¹⁾	Changes to goodwill reflect the disposal of the goodwill associated with the sale of ISS. See Note 3, “Dispositions and Discontinued Operations,” for additional information.

Intangible Assets

Amortization expense related to intangible assets for the three months ended June 30, 2014 and 2013 was $11.4 million and $11.2 million, respectively. Amortization expense related to intangible assets for the six months ended June 30, 2014 and 2013 was $22.7 million and $22.4 million, respectively.

The gross carrying amounts and accumulated amortization totals related to the Company’s identifiable intangible assets are as follows:


	As of
(in thousands)	June 30, 2014⁽¹⁾			December 31, 2013
Gross intangible assets:
Customer relationships	$	359,235		$	478,735
Trademarks/trade names		223,182			257,282
Technology/software		189,405			199,778
Proprietary process		—			3,800
Proprietary data		28,527			28,527


Subtotal		800,349			968,122
Foreign exchange translation adjustment		3,923			1,962


Total gross intangible assets	$	804,272		$	970,084


Accumulated amortization:
Customer relationships	$	(107,075	)	$	(125,359	)
Trademarks/trade names		(75,518	)		(75,696	)
Technology/software		(163,236	)		(168,481	)
Proprietary process		—			(2,269	)
Proprietary data		(3,469	)		(2,326	)


Subtotal		(349,298	)		(374,131	)
Foreign exchange translation adjustment		(449	)		(246	)

Total accumulated amortization	$	(349,747	)	$	(374,377	)


Net intangible assets:
Customer relationships	$	252,160		$	353,376
Trademarks/trade names		147,664			181,586
Technology/software		26,169			31,297
Proprietary process		—			1,531
Proprietary data		25,058			26,201


Subtotal		451,051			593,991
Foreign exchange translation adjustment		3,474			1,716


Total net intangible assets	$	454,525		$	595,707

⁽¹⁾	Intangible assets and the associated accumulated amortization as of June 30, 2014 reflect the disposal of the amounts associated with the sale of ISS. See Note 3, “Dispositions and Discontinued Operations,” for additional information.

The estimated amortization expense for succeeding years is presented below:


Fiscal Year	Amortization Expense
	(in thousands)
Remainder 2014	$	23,053
2015		46,590
2016		46,070
2017		40,572
2018		37,824
Thereafter		260,416


Total	$	454,525

- 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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