Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

Footnote 9 — Goodwill and Other Intangible Assets, Net

Goodwill activity for the three months ended March 31, 2018 is as follows (in millions):


									March 31, 2018
Segment	Net Book Value at December 31, 2017		Other Adjustments (1)			Foreign Exchange			Gross Carrying Amount		Accumulated Impairment Charges			Net Book Value
Live	$	3,910.8	$	(104.7	)		8.8		$	4,239.8	$	(424.9	)	$	3,814.9
Learn		2,854.2		—			13.2			3,302.6		(435.2	)		2,867.4
Work		1,881.8		(624.4	)		(1.8	)		1,255.6		—			1,255.6
Play		1,159.3		(115.7	)		2.5			1,046.1		—			1,046.1
Other		754.0		(66.6	)		1.0			688.4		—			688.4

	$	10,560.1	$	(911.4	)		23.7		$	10,532.5	$	(860.1	)	$	9,672.4

(1)	Represents amounts reclassified to assets held for sale (see Footnote 4).

The table below summarizes the balance of other intangible assets, net and the related amortization periods using the straight-line method and attribution method as of the dates indicated, (in millions):


	March 31, 2018							December 31, 2017
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value		Amortization Periods (in years)
Trade names — indefinite life	$	9,951.1	$	—		$	9,951.1	$	10,210.8	$	—		$	10,210.8		N/A
Trade names — other		240.6		(36.6	)		204.0		366.9		(58.5	)		308.4		3–30
Capitalized software		568.8		(364.7	)		204.1		558.6		(349.6	)		209.0		3–12
Patents and intellectual property		189.4		(83.0	)		106.4		252.1		(142.8	)		109.3		3–14
Customer relationships and distributor channels		2,950.0		(337.2	)		2,612.8		3,703.2		(377.8	)		3,325.4		3–30
Other		131.3		(66.8	)		64.5		135.6		(62.5	)		73.1		3–5

	$	14,031.2	$	(888.3	)	$	13,142.9	$	15,227.2	$	(991.2	)	$	14,236.0

Amortization expense for intangible assets was $81.9 million and $102 million for the three months ended March 31, 2018 and 2017, respectively. Amortization expense for the three months ended March 31, 2017 includes a measurement period adjustment of $16.4 million related to the valuation of non-compete agreements within other intangible assets. During the three months ended March 31, 2018 $1.1 billion of other intangibles, net, were reclassified to assets held for sale (see Footnote 4).

- 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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