Goodwill and Other Intangible Assets

6 Months Ended

Jul. 04, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

5. GOODWILL AND OTHER INTANGIBLE ASSETS: The change in the net carrying amount of goodwill for the six months ended July 4, 2015, by segment is as follows (in thousands):

	Steel Mills			Steel Products			Raw Materials		Total
Balance at December 31, 2014	$	594,402		$	744,685		$	729,577	$	2,068,664
Translation		—			(18,566	)		—		(18,566	)
Other		(4,000	)		—			—		(4,000	)
Balance at July 4, 2015	$	590,402		$	726,119		$	729,577	$	2,046,098

Nucor completed its most recent annual goodwill impairment testing during the fourth quarter of 2014 and concluded that there was no impairment of goodwill for any of its reporting units. There have been no triggering events requiring an interim assessment for impairment since the most recent annual impairment testing date.

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

	July 4, 2015				December 31, 2014
	Gross Amount		Accumulated Amortization		Gross Amount		Accumulated Amortization
Customer relationships	$	1,194,549	$	485,849	$	1,199,942	$	454,353
Trademarks and trade names		157,604		53,077		158,584		48,356
Other		23,047		17,224		22,823		16,547
	$	1,375,200	$	556,150	$	1,381,349	$	519,256

Intangible asset amortization expense for the second quarter of 2015 and 2014 was $18.2 million and $17.8 million, respectively, and was $36.9 million and $36.3 million in the first six months of 2015 and 2014, respectively. Annual amortization expense is estimated to be $73.4 million in 2015; $72.1 million in 2016; $70.2 million in 2017; $65.6 million in 2018; and $63.0 million in 2019.