Goodwill And Other Intangible Assets

12 Months Ended

Dec. 31, 2011

Goodwill And Other Intangible Assets [Abstract]

Goodwill And Other Intangible Assets

9. Goodwill and Other Intangible Assets

The change in the net carrying amount of goodwill for the years ended December 31, 2011 and 2010 by segment is as follows (in thousands):

	Steel Mills		Steel Products			Raw Materials		All Other		Total
Balance, December 31, 2009	$	268,466	$	780,628		$	665,075	$	88,852	$	1,803,021
Acquisitions		—		—			14,841		—		14,841
Translation		—		18,432			—		—		18,432
Balance, December 31, 2010		268,466		799,060			679,916		88,852		1,836,294
Acquisitions		—		—			2,986		—		2,986
Translation		—		(8,619	)		—		—		(8,619	)
Balance, December 31, 2011	$	268,466	$	790,441		$	682,902	$	88,852	$	1,830,661

The majority of goodwill is not tax deductible.

Intangible assets with estimated lives of 5 to 22 years are amortized on a straight-line or accelerated basis and are comprised of the following (in thousands):

	December 31, 2011				December 31, 2010
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	941,787	$	262,841	$	944,920	$	203,969
Trademarks and trade names		123,192		25,628		123,713		19,351
Other		25,868		17,738		27,869		17,057
	$	1,090,847	$	306,207	$	1,096,502	$	240,377

Intangible asset amortization expense was $67.8 million in 2011 ($70.5 million in 2010 and $72.4 million in 2009). Annual amortization expense is estimated to be $61.4 million in 2012; $57.9 million in 2013; $55.8 million in 2014; $54.0 million in 2015; and $52.7 million in 2016.

The Company completed its annual goodwill impairment testing as of the first day of the fourth quarters of 2011, 2010 and 2009 and concluded that there was no impairment of goodwill for any of its reporting units. We do not believe there are currently any reporting units at risk of impairment in the near term.