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INTANGIBLE ASSETS AND GOODWILL (Tables)
 6 Months Ended
Jun. 30, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of components of intangible assets
The major components of intangible assets as of June 30, 2014 and December 31, 2013 were as follows:
 
 
As of June 30, 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
 
$
10,224.0

 
$
(3,094.0
)
 
$
7,130.0

 
$
10,554.2

 
$
(2,729.1
)
 
$
7,825.1

Corporate brands
 
386.7

 
(56.9
)
 
329.8

 
365.6

 
(44.4
)
 
321.2

Product rights
 
3,094.8

 
(1,070.4
)
 
2,024.4

 
3,021.0

 
(876.9
)
 
2,144.1

Partner relationships
 
211.3

 
(102.5
)
 
108.8

 
194.0

 
(83.2
)
 
110.8

Out-licensed technology and other
 
255.4

 
(115.6
)
 
139.8

 
264.0

 
(93.8
)
 
170.2

Total finite-lived intangible assets
 
14,172.2

 
(4,439.4
)
 
9,732.8

 
14,398.8

 
(3,827.4
)
 
10,571.4

Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
Acquired IPR&D
 
321.1

 
—

 
321.1

 
579.3

 
—

 
579.3

Corporate brand(1)
 
1,697.5

 
—

 
1,697.5

 
1,697.5

 
—

 
1,697.5

 
 
$
16,190.8

 
$
(4,439.4
)
 
$
11,751.4

 
$
16,675.6

 
$
(3,827.4
)
 
$
12,848.2

____________________________________
(1)
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)
 
$
1,412.7

 
$
1,366.6

 
$
1,275.4

 
$
1,215.7

 
$
1,091.9


____________________________________
(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 six-month period ended June 30, 2014 were as follows:
 
 
Developed
Markets
 
Emerging
Markets
 
Total
Balance, January 1, 2014
 
$
7,428.7

 
$
2,323.4

 
$
9,752.1

Additions(a)
 
68.9

 
42.8

 
111.7

Adjustments(b)
 
(11.0
)
 
(4.3
)
 
(15.3
)
Allocations to assets held for sale(c)
 
(428.9
)
 
—

 
(428.9
)
Foreign exchange and other
 
9.5

 
7.2

 
16.7

Balance, June 30, 2014
 
$
7,067.2

 
$
2,369.1

 
$
9,436.3

____________________________________
(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).
(c)
Relates to the reclassifications of goodwill to assets held for sale in the second quarter of 2014 related to the divestitures of filler and toxin assets and Metronidazole 1.3% in July 2014 (as described in note 19, “SUBSEQUENT EVENTS AND PROPOSED TRANSACTIONS”).