Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

7. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company carries goodwill as reflected in the table below:


	Goodwill
(in thousands)
Goodwill at December 31, 2014	$	1,564,904
Foreign exchange translation adjustment		549


Goodwill at June 30, 2015	$	1,565,453

Intangible Assets

Amortization expense related to intangible assets for the three months ended June 30, 2015 and 2014 was $11.7 million and $11.4 million, respectively. Amortization expense related to intangible assets for the six months ended June 30, 2015 and 2014 was $23.4 million and $22.7 million, respectively.

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


		As of
	Estimated Remaining Useful Lives	June 30, 2015			December 31, 2014
		(in thousands)
Gross intangible assets:
Customer relationships	5 to 21 years	$	360,835		$	360,835
Trademarks/trade names	5 to 21.5 years		223,382			223,382
Technology/software	3 to 8.5 years		193,293			193,681
Proprietary data	13 years		28,628			28,627
Covenant not to compete	2 years		900			900


Subtotal			807,038			807,425
Foreign exchange translation adjustment			(1,096	)		(1,588	)


Total gross intangible assets		$	805,942		$	805,837


Accumulated amortization:
Customer relationships		$	(131,186	)	$	(119,058	)
Trademarks/trade names			(87,525	)		(81,545	)
Technology/software			(171,096	)		(167,083	)
Proprietary data			(5,641	)		(4,589	)
Covenant not to compete			(413	)		(187	)


Subtotal			(395,861	)		(372,462	)
Foreign exchange translation adjustment			118			253


Total accumulated amortization		$	(395,743	)	$	(372,209	)


Net intangible assets:
Customer relationships		$	229,649		$	241,777
Trademarks/trade names			135,857			141,837
Technology/software			22,197			26,598
Proprietary data			22,987			24,038
Covenant not to compete			487			713


Subtotal			411,177			434,963
Foreign exchange translation adjustment			(978	)		(1,335	)


Total net intangible assets		$	410,199		$	433,628

The estimated amortization expense for the remainder of 2015 and succeeding years is presented below:


Years Ending December 31,	Amortization Expense
	(in thousands)
Remainder 2015	$	23,557
2016		46,925
2017		41,655
2018		38,506
2019		36,960
Thereafter		222,596


Total	$	410,199

- 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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