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INTANGIBLE ASSETS AND GOODWILL (Tables)
 3 Months Ended
Mar. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of components of intangible assets
The major components of intangible assets as of March 31, 2014 and December 31, 2013 were as follows:
 
 
As of March 31, 2014
 
As of December 31, 2013
 
 
Gross
Carrying
Amount
 
Accumulated
Amortization,
Including
Impairments
 
Net
Carrying
Amount
 
Gross
Carrying
Amount
 
Accumulated
Amortization,
Including
 Impairments
 
Net
Carrying
Amount
Finite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Product brands
 
$
10,702.7

 
$
(2,943.5
)
 
$
7,759.2

 
$
10,554.2

 
$
(2,729.1
)
 
$
7,825.1

Corporate brands
 
382.6

 
(50.4
)
 
332.2

 
365.6

 
(44.4
)
 
321.2

Product rights
 
3,109.0

 
(986.5
)
 
2,122.5

 
3,021.0

 
(876.9
)
 
2,144.1

Partner relationships
 
209.7

 
(93.4
)
 
116.3

 
194.0

 
(83.2
)
 
110.8

Out-licensed technology and other
 
262.7

 
(103.7
)
 
159.0

 
264.0

 
(93.8
)
 
170.2

Total finite-lived intangible assets(1)
 
14,666.7

 
(4,177.5
)
 
10,489.2

 
14,398.8

 
(3,827.4
)
 
10,571.4

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Acquired IPR&D
 
515.0

 
—

 
515.0

 
579.3

 
—

 
579.3

Corporate brand(2)
 
1,697.5

 
—

 
1,697.5

 
1,697.5

 
—

 
1,697.5

 
 
$
16,879.2

 
$
(4,177.5
)
 
$
12,701.7

 
$
16,675.6

 
$
(3,827.4
)
 
$
12,848.2

____________________________________
(1)
In the first quarter of 2013, the Company recognized a write-off of $22.2 million related to Opana®, a pain relief medication approved in Canada (included in the Company’s Developed Markets segment), due to production issues arising in the first quarter of 2013. These production issues resulted in higher spending projections and delayed commercialization timelines, which, in turn, triggered the Company’s decision to suspend its launch plans. The Company does not believe this program has value to a market participant. This write-off was recognized in Amortization and impairments of finite-lived intangible assets in the consolidated statements of loss.
(2)
Represents the B&L corporate trademark, which has an indefinite useful life and is not amortizable. See note 3 “BUSINESS COMBINATIONS” for further information.
Schedule of estimated aggregate amortization expense for each of the five succeeding years
Estimated aggregate amortization expense for each of the five succeeding years ending December 31 is as follows:
 
 
2014
 
2015
 
2016
 
2017
 
2018
Amortization expense(1)
 
$
1,447.0

 
$
1,419.5

 
$
1,329.4

 
$
1,270.3

 
$
1,135.0


____________________________________
(1)
Estimated amortization expense shown in the table above does not include potential future impairments of finite-lived intangible assets, if any.
Schedule of changes in the carrying amount of goodwill
The changes in the carrying amount of goodwill in the three-month period ended March 31, 2014 were as follows:
 
 
Developed
Markets
 
Emerging
Markets
 
Total
Balance, January 1, 2014
 
$
7,428.7

 
$
2,323.4

 
$
9,752.1

Additions(a)
 
62.3

 
40.7

 
103.0

Adjustments(b)
 
34.9

 
10.2

 
45.1

Foreign exchange and other
 
13.5

 
2.2

 
15.7

Balance, March 31, 2014
 
$
7,539.4

 
$
2,376.5

 
$
9,915.9

____________________________________
(a)
Primarily relates to the Solta Medical acquisition (as described in note 3).
(b)
Primarily reflects the impact of measurement period adjustments related to the B&L Acquisition (as described in note 3).