GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 29, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL — The changes in the carrying amount of goodwill by segment are as follows:



(Millions of Dollars)	CDIY		Industrial		Security			Total
Balance December 31, 2011	$	2,919.9	$	1,291.4	$	2,226.9		$	6,438.2
Reclass to Assets Held for Sale	—		—		(38.7		)	(38.7		)
Addition from acquisitions	100.9		59.1		365.8			525.8
Foreign currency translation and other	9.7		43.8		42.3			95.8
Balance December 29, 2012	$	3,030.5	$	1,394.3	$	2,596.3		$	7,021.1

In accordance with ASC 350, portions of the goodwill associated with the CDIY and Security segments were allocated to HHI based on the relative fair value of the business disposed of and the portions of the reporting units that were retained. Accordingly, goodwill for the CDIY and Security segments was reduced by $84.3 million and $397.6 million, respectively, and included in the gain on sale of HHI.

INTANGIBLE ASSETS — Intangible assets at December 29, 2012 and December 31, 2011 were as follows:



	2012					2011
(Millions of Dollars)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortized Intangible Assets — Definite lives
Patents and copyrights	$	52.1	$	(40.3	)	$	51.0	$	(36.8	)
Trade names	142.5		(68.8		)	136.3		(54.2		)
Customer relationships	1,707.9		(628.1		)	1,612.8		(473.6		)
Other intangible assets	262.7		(101.4		)	175.3		(81.9		)
Total	$	2,165.2	$	(838.6	)	$	1,975.4	$	(646.5	)

Total indefinite-lived trade names are $1,608.0 million at December 29, 2012 and $1,615.0 million at December 31, 2011. The change in value is due to fluctuations of currency and an asset impairment recorded in the third quarter of 2012 as it was determined that the carrying value of the asset exceeded its fair value.

Aggregate intangible assets amortization expense by segment was as follows:



(Millions of Dollars)	2012		2011		2010
CDIY	$	35.9	$	31.8	$	27.9
Security	113.2		107.8		95.1
Industrial	58.3		42.0		22.3
Consolidated	$	207.4	$	181.6	$	145.3

The amounts above are inclusive of amortization expense for discontinued operations amounting to $17.5 million in 2012, $16.9 million in 2011, and $14.0 million in 2010.

Future amortization expense in each of the next five years amounts to $175.8 million for 2013, $159.4 million for 2014, $141.7 million for 2015, $134.6 million for 2016, $127.9 million for 2017 and $587.2 million thereafter.

- 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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