Intangible Assets
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Dec. 31, 2013
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Intangible Assets, Net (Excluding Goodwill) [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Intangible Assets | Intangible Assets Intangible assets are initially recorded at their acquisition cost, or fair value if acquired as part of a business combination, and amortized over their estimated useful lives. As a result of the 2012 Change in Control Transaction, during 2012 the following purchase accounting fair value increase adjustments were made to intangible assets: database and credit files, $705.1 million; internal use software, $261.2 million; customer relationships, $256.1 million; and trademarks, copyrights and patents, $537.0 million. Noncompete agreements were reduced by $3.3 million. All accumulated amortization was reduced to zero in connection with the 2012 Change in Control Transaction. See Note 2, “Change in Control Transaction.” Increases to the gross amount of intangible assets during 2013 include expenditures to develop internal use software and increases due to business acquisitions, partially offset by the impact of foreign exchange rate adjustments. Intangible assets consisted of the following:
All amortizable intangibles are amortized on a straight-line basis over their estimated useful lives. Database and credit files are amortized over a twelve- to fifteen-year period. Internal use software is amortized over a three- to seven-year period. Customer relationships are amortized over a ten- to twenty-year period. Trademarks are generally amortized over a forty-year period. Copyrights, patents, noncompete and other agreements are amortized over varying periods based on their estimated economic life. Amortization expense related to intangible assets for TransUnion Holding and TransUnion Corp for the year ended December 31, 2013, was $142.8 million. Amortization expense for TransUnion Holding from inception through December 31, 2012, and for TransUnion Corp Successor for the eight months ended December 31, 2012, was $88.3 million. Amortization expense for TransUnion Corp Predecessor for the four months ended April 30, 2012, and the year ended December 31, 2011 was $16.8 million and $46.0 million, respectively. Estimated future amortization expense related to purchased intangible assets at December 31, 2013, is as follows:
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