GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2011

F. GOODWILL AND INTANGIBLE ASSETS

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


(Millions of Dollars)	CDIY			Industrial			Security			Total
Balance January 1, 2011	$	2,924.0		$	1,233.0		$	1,780.0		$	5,937.0
Addition from Niscayah		—			—			759.8			759.8
Addition from Merger		77.0			24.4			18.6			120.0
Addition from other acquisitions		98.3			44.9			98.7			241.9
Foreign currency translation and other		(95.1	)		(10.9	)		(32.6	)		(138.6	)

Balance December 31, 2011	$	3,004.2		$	1,291.4		$	2,624.5		$	6,920.1

INTANGIBLE ASSETS Intangible assets at December 31, 2011 and January 1, 2011 were as follows:


	2011					2010
(Millions of Dollars)	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
Amortized Intangible Assets — Definite lives
Patents and copyrights	$	51.1	$	(36.8	)	$	54.9	$	(39.0	)
Trade names		244.3		(67.6	)		236.9		(49.6	)
Customer relationships		1,678.2		(499.1	)		1,256.5		(369.3	)
Other intangible assets		200.3		(86.5	)		185.3		(58.8	)

Total	$	2,173.9	$	(690.0	)	$	1,733.6	$	(516.7	)

Total indefinite-lived trade names are $1,633.1 million at December 31, 2011 and $1,639.5 million at January 1, 2011. The change in value is due to fluctuations of currency and the sale of one indefinite lived tradename as part of the disposition activity discussed in Note T, Discontinued Operations.

Aggregate intangible assets amortization expense by segment was as follows:


(Millions of Dollars)	2011		2010		2009
CDIY	$	31.8	$	27.9	$	2.9
Security		107.8		95.1		96.8
Industrial		42.0		22.3		4.9

Consolidated	$	181.6	$	145.3	$	104.6

Future amortization expense in each of the next five years amounts to $202.2 million for 2012, $184.3 million for 2013, $164.5 million for 2014, $144.0 million for 2015, $122.8 million for 2016 and $666.1 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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