Acquisitions and Dispositions (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value, Valuation Techniques and Related Unobservable Inputs of Level Three

The following table presents the fair value, valuation techniques and related unobservable inputs for these Level 3 measurements for the years ended December 31, 2013 and 2012:

	Fair Value		Valuation Technique	Unobservable Input	Range
2013
Customer relationships	$	—	With and without method	Discount rate	16.0%
2012
Customer relationships	$	3.1	Excess earnings	Discount rate Attrition rate	12.5% - 15.0% 2.0% - 15.9%

Presort, Meisel, XPO and EDGAR Online Acquisitions

Schedule of Purchase Price Allocation for Acquisitions

Based on the valuations, the final purchase price allocations for these acquisitions were as follows:

Accounts receivable	$	18.3
Inventories		2.0
Prepaid expenses and other current assets		4.3
Property, plant and equipment		10.4
Amortizable other intangible assets		37.5
Other noncurrent assets		15.1
Goodwill		55.6
Accounts payable and accrued liabilities		(21.5	)
Other noncurrent liabilities		(0.1	)
Deferred taxes-net		10.4
Total purchase price-net of cash acquired		132.0
Less: debt assumed		1.4
Less: fair value of contingent consideration		3.5
Net cash paid	$	127.1

Fair Value, Valuation Techniques and Related Unobservable Inputs of Level Three

The following table presents the fair value, valuation techniques and related unobservable inputs for these Level 3 measurements:

	Fair Value		Valuation Technique	Unobservable Input	Range
Customer relationships	$	31.4	Excess earnings, with and without method	Discount rate Attrition rate	16.0% - 17.0% 7.0% - 20.0%
Technology		14.5	Excess earnings, relief-from-royalty method, cost approach	Discount rate Obsolescence factor Royalty rate (after-tax)	16.0% - 17.0% 10.0% - 20.0% 4.5%
Trade names		3.5	Relief-from-royalty method	Discount rate Royalty rate (after-tax)	15.5% - 17.0% 0.3% - 1.2%
Non-compete agreements		2.6	Excess earnings, with and without method	Discount rate	16.0% - 17.0%
Contingent consideration		3.5	Probability weighted discounted future cash flows	Discount rate	4.5%

Stratus Genesis Libre Digital Sequence Helium And Journalism Online Acquisitions

Schedule of Purchase Price Allocation for Acquisitions

The Stratus, Genesis, LibreDigital, Sequence, Helium and Journalism Online acquisitions were recorded by allocating the cost of the acquisitions to the assets acquired, including other intangible assets, based on their estimated fair values at the acquisition date. The excess of the cost of the acquisitions and the fair value of the previously-held investments in Helium and contingent consideration over the net amounts assigned to the fair value of the assets acquired was recorded as goodwill. The tax deductible goodwill related to these acquisitions was $46.7 million. Based on the valuations, the final purchase price allocations for these acquisitions were as follows:

Accounts receivable	$	6.0
Inventories		2.3
Prepaid expenses and other current assets		0.4
Property, plant and equipment and other noncurrent assets		16.8
Amortizable other intangible assets		16.2
Goodwill		117.6
Accounts payable and accrued liabilities		(8.2	)
Other noncurrent liabilities		(2.9	)
Deferred taxes-net		14.2
Total purchase price-net of cash acquired		162.4
Less: fair value of Company’s previously-held investments in Helium		13.9
Less: fair value of contingent consideration		6.8
Net cash paid	$	141.7