Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

Note 4. Goodwill and Other Intangible Assets

The changes in the carrying amount of goodwill for the years ended December 31, 2015 and 2014 were as follows:

	Publishing and Retail Services			Variable Print			Strategic Services			International			Total
Net book value as of January 1, 2014
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		—			276.2			3.4			20.5			300.1
Foreign exchange and other adjustments		—			(0.7	)		(0.2	)		(10.8	)		(11.7	)
Impairment charges		(18.1	)		—			—			—			(18.1	)
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		51.2			2.3			7.5			5.3			66.3
Foreign exchange and other adjustments		—			(2.4	)		(0.8	)		(8.1	)		(11.3	)
Impairment charges		—			—			—			(18.0	)		(18.0	)
Net book value as of December 31, 2015
Goodwill		739.2			1,914.0			991.5			1,123.6			4,768.3
Accumulated impairment losses		(688.0	)		(1,105.2	)		(219.7	)		(1,011.8	)		(3,024.7	)
Total	$	51.2		$	808.8		$	771.8		$	111.8		$	1,743.6

During the third quarter of 2015, the Company recorded non-cash charges of $18.0 million to reflect the impairment of goodwill in the International segment. In the fourth quarter of 2014, the Company recorded non-cash charges of $18.1 million to reflect impairment of goodwill in the Publishing and Retail Services segment. See Note 3, Restructuring, Impairment and Other Charges, for further discussion regarding these impairment charges.

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

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

Customer relationships	$	932.1	$	(555.3	)	$	376.8	$	865.6	$	(498.0	)	$	367.6
Patents		98.3		(98.3	)		—		98.3		(98.3	)		—
Trademarks, licenses and agreements		30.6		(29.9	)		0.7		31.5		(29.7	)		1.8
Trade names		47.5		(19.1	)		28.4		43.1		(15.6	)		27.5
Total amortizable other intangible assets		1,108.5		(702.6	)		405.9		1,038.5		(641.6	)		396.9
Indefinite-lived trade names		32.1		—			32.1		26.8		—			26.8
Total other intangible assets	$	1,140.6	$	(702.6	)	$	438.0	$	1,065.3	$	(641.6	)	$	423.7

During the year ended December 31, 2015, the Company recorded non-cash charges of $11.9 million for the impairment of intangible assets, including $9.2 million and $2.2 million related to the impairment of certain acquired customer relationship intangible assets in the labels reporting unit within the Variable Print segment and the Latin America reporting unit within the International segment, respectively. In the fourth quarter of 2014, the Company recorded non-cash impairment charges of $7.8 million, $4.1 million and $1.7 million related to the impairment of acquired customer relationship intangible assets in the Canada reporting unit within the International segment, the commercial and digital print reporting unit within the Variable Print segment and the financial reporting unit within the Strategic Services segment, respectively. During the year ended December 31, 2014, the Company also recorded non-cash charges of $1.4 million to reflect the impairment of trade names in the commercial and digital print reporting unit within the Variable Print segment as a result of facility closures. See Note 3, Restructuring, Impairment and Other Charges, for further discussion regarding these impairment charges.

During the years ended December 31, 2015 and 2014, the Company recorded additions to other intangible assets of $108.8 million and $205.0 million, respectively, for acquisitions during those years, the components of which were as follows:

	December 31, 2015				December 31, 2014
	Amount		Weighted Average Amortization Period		Amount		Weighted Average Amortization Period
Customer relationships	$	98.4		11.9	$	178.2		9.7
Trade names (indefinite-lived)		5.5	n/a			8.7	n/a
Trade names (amortizable)		4.6		3.0		17.8		10.0
Non-compete agreements		0.3		4.3		0.3		3.0
Total additions	$	108.8			$	205.0

Amortization expense for other intangible assets was $78.5 million, $78.1 million and $64.0 million for the years ended December 31, 2015, 2014 and 2013, respectively.

The following table outlines the estimated annual amortization expense related to other intangible assets as of December 31, 2015:

	Amount
2016	$	64.6
2017		58.7
2018		52.8
2019		48.6
2020		45.0
2021 and thereafter		136.2
Total	$	405.9

- 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.

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