Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets [Abstract]

Note 4. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the year ended December 31, 2011 and 2010 were as follows:


	U.S. Print and Related Services			International			Total
Net book value at January 1, 2010
Goodwill	$	2,977.6		$	1,216.2		$	4,193.8
Accumulated impairment losses		(878.2	)		(982.3	)		(1,860.5	)

Total		2,099.4			233.9			2,333.3

Acquisitions		165.9			92.0			257.9
Foreign exchange and other adjustments		(1.8	)		(1.6	)		(3.4	)
Impairment charge		(61.0	)		—			(61.0	)

Net book value at December 31, 2010
Goodwill		3,141.7			1,298.5			4,440.2
Accumulated impairment losses		(939.2	)		(974.2	)		(1,913.4	)

Total		2,202.5			324.3			2,526.8

Acquisitions		118.3			—			118.3
Foreign exchange and other adjustments		(17.4	)		(13.3	)		(30.7	)
Impairment charges		(270.3	)		(122.0	)		(392.3	)

Net book value at December 31, 2011
Goodwill		3,242.6			1,278.4			4,521.0
Accumulated impairment losses		(1,209.5	)		(1,089.4	)		(2,298.9	)

Total	$	2,033.1		$	189.0		$	2,222.1

In the fourth quarters of 2011 and 2010, the Company recorded non-cash charges of $392.3 million and $61.0 million, respectively, to reflect impairment of goodwill. See Note 3 for further discussion regarding these impairment charges.

The components of other intangible assets at December 31, 2011 and 2010 were as follows:


	December 31, 2011							December 31, 2010
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
Trademarks, licenses and agreements	$	28.7	$	(24.4	)	$	4.3	$	25.7	$	(23.0	)	$	2.7
Patents		98.3		(95.8	)		2.5		98.3		(83.6	)		14.7
Customer relationship intangibles		1,164.4		(613.6	)		550.8		1,244.3		(519.8	)		724.5
Trade names		23.9		(9.3	)		14.6		22.7		(7.7	)		15.0

Total amortizable purchased intangible assets		1,315.3		(743.1	)		572.2		1,391.0		(634.1	)		756.9
Indefinite-lived trade names		18.1		—			18.1		18.1		—			18.1

Total purchased intangible assets	$	1,333.4	$	(743.1	)	$	590.3	$	1,409.1	$	(634.1	)	$	775.0

In the fourth quarter of 2011, the Company recorded non-cash charges of $90.7 million to reflect the impairment of acquired customer relationship intangible assets and other intangible assets within the U.S. Print and Related Services segment. In the third quarter of 2010, the Company recorded a non-cash charge of $26.9 million to reflect impairment of acquired customer relationship intangible assets in the International segment.

See Note 3 for further discussion regarding these impairment charges.

During the years ended December 31, 2011 and 2010, the Company recorded additions to other intangible assets of $19.9 million and $159.8 million, respectively. The components of other intangible assets added during 2011 and 2010 were as follows:


	December 31, 2011				December 31, 2010
	Amount		Weighted Average Amortization Period		Amount		Weighted Average Amortization Period
Trademarks, licenses and agreements	$	4.1		4.5	$	—		—
Customer relationship intangibles		14.7		13.9		158.3		10.0
Trade names		1.1		3.5		1.5		1.5

Total additions	$	19.9			$	159.8

Amortization expense for other intangible assets was $112.2 million, $99.3 million and $99.1 million for the years ended December 31, 2011, 2010 and 2009, respectively. The following table outlines the estimated future amortization expense related to other intangible assets as of December 31, 2011:


	Amount
2012	$	90.0
2013		86.9
2014		84.3
2015		76.8
2016		49.2
2017 and thereafter		185.0

Total	$	572.2

- 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