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Goodwill and Other Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2014
Goodwill

The changes in the carrying amount of goodwill for the three months ended March 31, 2014 were as follows:

 

 

 

Publishing and Retail Services

 

 

Variable Print

 

 

Strategic
Services

 

 

International

 

 

Total

 

Net book value at December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

688.0

 

 

$

1,638.6

 

 

$

1,005.4

 

 

$

1,275.9

 

 

$

4,607.9

  

Accumulated impairment losses

 

 

(669.9

)

 

 

(1,105.2

)

 

 

(243.5

)

 

 

(1,153.0

)

 

 

(3,171.6

Total

 

 

18.1

 

 

 

533.4

 

 

 

761.9

 

 

 

122.9

 

 

 

1,436.3

  

Acquisitions

 

 

 

 

 

295.9

 

 

 

2.9

 

 

 

 

 

 

298.8

 

Foreign exchange and other adjustments

 

 

 

 

 

0.7

 

 

 

 

 

 

(0.3

)

 

 

0.4

 

Net book value at March 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

688.0

 

 

 

1,935.2

 

 

 

1,008.6

 

 

 

1,265.8

 

 

 

4,897.6

  

Accumulated impairment losses

 

 

(669.9

)

 

 

(1,105.2

)

 

 

(243.8

)

 

 

(1,143.2

)

 

 

(3,162.1

Total

 

$

18.1

 

 

$

830.0

 

 

$

764.8

 

 

$

122.6

 

 

$

1,735.5

  

 

Components of Other Intangible Assets

The components of other intangible assets at March 31, 2014 and December 31, 2013 were as follows:

 

 

 

March 31, 2014

 

 

December 31, 2013

 

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Customer relationships

  

$

906.4

  

  

$

(465.6

)  

  

$

440.8

  

  

$

728.8

  

  

$

(448.5

 

$

280.3

  

Patents

  

 

98.3

  

  

 

(98.3

)  

  

 

  

  

 

98.3

  

  

 

(98.3

 

 

  

Trademarks, licenses and agreements

  

 

32.0

  

  

 

(28.7

)  

  

 

3.3

  

  

 

31.4

  

  

 

(28.2

 

 

3.2

  

Trade names

  

 

44.9

  

  

 

(13.6

)  

  

 

31.3

  

  

 

27.1

  

  

 

(12.8

 

 

14.3

  

Total amortizable other intangible assets

  

 

1,081.6

  

  

 

(606.2

)  

  

 

475.4

  

  

 

885.6

  

  

 

(587.8

 

 

297.8

  

Indefinite-lived trade names

  

 

26.9

  

  

 

  

  

 

26.9

  

  

 

18.1

  

  

 

  

 

 

18.1

  

Total other intangible assets

  

$

1,108.5

  

  

$

(606.2

)  

  

$

502.3

  

  

$

903.7

  

  

$

(587.8

 

$

315.9

  

 

Additions to Intangible Assets

The components of other intangible assets added during the three months ended March 31, 2014 were as follows:

 

 

March 31, 2014

 

 

 

 

Amount

 

 

Weighted Average Amortization Period

 

 

Customer relationships

 

$

178.1

  

  

9.7

  

  

  

Trade names (amortizable)

  

 

17.7

  

  

10.0

  

  

  

Trade names (indefinite-lived)

  

 

8.8

  

  

n/a

  

  

  

Non-compete agreements

  

 

0.7

  

  

3.0

  

  

  

Total additions

  

$

205.3

  

  

 

  

  

  

 

Estimated Annual Amortization Expense Related to Intangible Assets

The following table outlines the estimated annual amortization expense related to other intangible assets as of March 31, 2014:

 

For the year ending December 31,

 

Amount

 

2014

  

$

79.0

  

2015

  

 

78.2

  

2016

  

 

59.5

  

2017

  

 

53.0

  

2018

  

 

47.8

  

2019 and thereafter

  

 

176.2

  

Total

  

$

493.7