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Goodwill And Intangibles
9 Months Ended
Sep. 30, 2011
Goodwill And Intangibles 
Goodwill And Intangibles

5. Goodwill and Intangibles

Goodwill activity for the nine months ended September 30, 2011 is as follows:

 

                         September 30, 2011  

(in millions)

   Net Book
Value at
December 31,
2010
     Additions      Foreign
Exchange
and Other
Adjustments
    Gross
Carrying
Amount
     Accumulated
Impairment
Charges
    Net Book
Value
 

Goodwill

               

Outdoor Solutions

   $ 684.0       $ 2.5       $ 0.1      $ 705.1       $ (18.5   $ 686.6   

Consumer Solutions

     492.6         —           (0.4     492.2         —          492.2   

Branded Consumables

     554.3         4.6         (2.4     740.4         (183.9     556.5   

Process Solutions

     21.5         —           —          21.5         —          21.5   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 
   $ 1,752.4       $ 7.1       $ (2.7   $ 1,959.2       $ (202.4   $ 1,756.8   
  

 

 

    

 

 

    

 

 

   

 

 

    

 

 

   

 

 

 

 

Intangibles activity for the nine months ended September 30, 2011 is as follows:

 

(in millions)

   Gross
Carrying
Amount at
December 31,
2010
     Additions      Accumulated
Amortization
and Foreign
Exchange
    Net Book
Value at
September 30,
2011
     Amortization
Periods
(years)
 

Intangibles

             

Patents

   $ 7.2       $ 0.3       $ (2.1   $ 5.4         12-30   

Non-compete agreements

     3.7         —           (3.7     —           1-5   

Manufacturing process and expertise

     42.1         —           (32.8     9.3         3-7   

Brand names

     18.3         —           (3.0     15.3         4-20   

Customer relationships and distributor channels

     253.6         —           (39.3     214.3         10-35   

Trademarks and tradenames

     925.4         —           0.1        925.5         indefinite   
  

 

 

    

 

 

    

 

 

   

 

 

    
   $ 1,250.3       $ 0.3       $ (80.8   $ 1,169.8      
  

 

 

    

 

 

    

 

 

   

 

 

    

Amortization of intangibles was $4.7 and $3.7 for the three months ended September 30, 2011 and 2010, respectively, and $14.1 and $12.5 for the nine months ended September 30, 2011 and 2010, respectively.

During the nine months ended September 30, 2010, the Company recorded within the Branded Consumables segment a non-cash charge of $17.3 to reflect impairment of goodwill due to a decrease in the fair value of forecasted cash flows, reflecting the deterioration of revenues and margins in this segment's Arts and Crafts business due to a decline in 2010 of forecasted sales to a major customer; and a non-cash charge of $1.0 to reflect the impairment of certain tradenames within this segment's Arts and Crafts business due to a decrease in the fair value of forecasted cash flows, reflecting the deterioration of revenues and margins in the business due to a decline in 2010 of forecasted sales to a major customer.