Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets consisted of the following:



	March 31, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	329,064	$	(262,406	)	$	66,658	$	337,438	$	(263,121	)	$	74,317
Supplier relationships	29,000		(28,638		)	362		29,000		(27,913		)	1,087
Software & technology	157,430		(152,701		)	4,729		160,825		(154,610		)	6,215
Trademarks & other	31,045		(30,622		)	423		33,079		(32,525		)	554
Total intangible assets	$	546,539	$	(474,367	)	$	72,172	$	560,342	$	(478,169	)	$	82,173

Amortization expense for intangible assets was $8 million and $6 million for the three months ended March 31, 2015 and 2014, respectively.

Future amortization expense for intangible assets as of March 31, 2015 was as follows:



Remaining for year ending December 31, 2015	$	20,228
Year ending December 31, 2016	21,512
Year ending December 31, 2017	10,720
Year ending December 31, 2018	8,124
Year ending December 31, 2019	5,066
Thereafter	6,522
Total	$	72,172

Actual amortization expense may differ from the amounts above due to, among other things, fluctuations in foreign currency exchange rates, impairments, acquisitions and accelerated amortization.

Goodwill

The changes in the carrying value of goodwill for the three months ended March 31, 2015 were as follows:



	Gross value before accumulated impairment		Accumulated impairment		December 31, 2014		Foreign currency translation			March 31, 2015
North America Mailing	$	309,448	$	—	$	309,448	$	(13,871	)	$	295,577
International Mailing	162,146		—		162,146		(12,110		)	150,036
Small & Medium Business Solutions	471,594		—		471,594		(25,981		)	445,613
Production Mail	110,837		—		110,837		(5,337		)	105,500
Presort Services	195,140		—		195,140		—			195,140
Enterprise Business Solutions	305,977		—		305,977		(5,337		)	300,640
Digital Commerce Solutions	895,150		—		895,150		(6,232		)	888,918
Total goodwill	$	1,672,721	$	—	$	1,672,721	$	(37,550	)	$	1,635,171

- 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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