Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

5. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill by segment for the six months ended June 30, 2015 were as follows:

	Publishing and Retail			Variable			Strategic
	Services			Print			Services			International			Total
Net book value as of December 31, 2014
Goodwill	$	688.0		$	1,914.1		$	987.5		$	1,213.9		$	4,803.5
Accumulated impairment losses		(688.0	)		(1,105.2	)		(222.4	)		(1,081.3	)		(3,096.9	)
Total		—			808.9			765.1			132.6			1,706.6
Acquisitions		52.6			—			1.8			3.9			58.3
Foreign exchange and other adjustments		—			(1.0	)		(0.2	)		(5.5	)		(6.7	)
Net book value as of June 30, 2015
Goodwill		740.6			1,913.1			988.0			1,193.9			4,835.6
Accumulated impairment losses		(688.0	)		(1,105.2	)		(221.3	)		(1,062.9	)		(3,077.4	)
Total	$	52.6		$	807.9		$	766.7		$	131.0		$	1,758.2

The components of other intangible assets at June 30, 2015 and December 31, 2014 were as follows:

	June 30, 2015							December 31, 2014
	Gross							Gross
	Carrying		Accumulated			Net Book		Carrying		Accumulated			Net Book
	Amount		Amortization			Value		Amount		Amortization			Value

Customer relationships	$	955.4	$	(529.3	)	$	426.1	$	865.6	$	(498.0	)	$	367.6
Patents		98.3		(98.3	)		—		98.3		(98.3	)		—
Trademarks, licenses and agreements		31.5		(30.1	)		1.4		31.5		(29.7	)		1.8
Trade names		47.7		(17.2	)		30.5		43.1		(15.6	)		27.5
Total amortizable other intangible assets		1,132.9		(674.9	)		458.0		1,038.5		(641.6	)		396.9
Indefinite-lived trade names		32.3		—			32.3		26.8		—			26.8
Total other intangible assets	$	1,165.2	$	(674.9	)	$	490.3	$	1,065.3	$	(641.6	)	$	423.7

The Company recorded additions to other intangible assets of $106.5 million for acquisitions during the six months ended June 30, 2015, the components of which were as follows:

	June 30, 2015
	Amount		Weighted Average Amortization Period
Customer relationships	$	96.3		11.9
Trade names (indefinite-lived)		5.5	n/a
Trade names (amortizable)		4.6		3.0
Non-compete agreement		0.1		5.0
Total additions	$	106.5

Amortization expense for other intangible assets was $19.2 million and $20.5 million for the three months ended June 30, 2015 and 2014, respectively, and $38.2 million and $38.8 million for the six months ended June 30, 2015 and 2014, respectively.

The following table outlines the estimated annual amortization expense related to other intangible assets as of June 30, 2015:

For the year ending December 31,	Amount
2015	$	78.7
2016		66.2
2017		60.2
2018		54.2
2019		49.9
2020 and thereafter		187.0
Total	$	496.2

- 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