Goodwill and Other Intangibles, Net

9 Months Ended

Sep. 30, 2015

Goodwill And Intangible Assets Disclosure [Abstract]

11.	Goodwill and Other Intangibles, Net

The following table provides information related to the carrying value of all intangible assets, other than goodwill:

	September 30, 2015								December 31, 2014
	Gross							Amortization	Gross
	Carrying		Accumulated					Period	Carrying		Accumulated
	Amount		Amortization			Net		(Years)	Amount		Amortization			Net
Amortizable intangible assets:
Trade Names	$	260.0	$	(93.0	)	$	167.0	3-20	$	255.3	$	(85.2	)	$	170.1
Customer Relationships		371.8		(136.3	)		235.5	15-20		347.3		(119.9	)		227.4
Patents/Formulas		57.4		(41.3	)		16.1	4-20		48.6		(38.3	)		10.3
Non Compete Agreement		1.8		(1.4	)		0.4	5-10		1.4		(1.4	)		0.0
Total	$	691.0	$	(272.0	)	$	419.0		$	652.6	$	(244.8	)	$	407.8

Indefinite lived intangible assets - Carrying value


	September 30,		December 31,
	2015		2014
Trade Names	$	860.5	$	864.6

Intangible amortization expense was $9.7 and $7.5 for the third quarter of 2015 and 2014, respectively. Intangible amortization expense was $30.1 and $22.7 for the first nine months of 2015 and 2014, respectively. The Company estimates that intangible amortization expense will be approximately $40.0 in 2015 and approximately $38.0 in each of the next five years.

The carrying amount of goodwill as of September 30, 2015 and December 31, 2014, respectively, is as follows:

	Consumer		Consumer		Specialty
	Domestic		International		Products		Total
Balance at December 31, 2014	$	1,242.2	$	62.6	$	20.2	$	1,325.0
VI-COR Acquisition		0.0		0.0		29.3		29.3
Balance at September 30, 2015	$	1,242.2	$	62.6	$	49.5	$	1,354.3

The 2015 increase in goodwill and amortizable assets is due to the VI-COR Acquisition, which is deductible for U.S. tax purposes. In connection with its annual goodwill impairment test, performed in the beginning of the second quarter of 2015, the Company determined that the estimated fair value substantially exceeded the carrying values of all reporting units.

- 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