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GOODWILL AND INTANGIBLE ASSETS, NET
 12 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
GOODWILL AND INTANGIBLE ASSETS, NET

An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
 
AWP
 
Construction
 
Cranes
 
MHPS
 
MP
 
Total
Balance at December 31, 2012, gross
$
139.9

 
$
274.4

 
$
233.9

 
$
732.8

 
$
204.7

 
$
1,585.7

Accumulated impairment
(38.6
)
 
(274.4
)
 
(4.2
)
 
—

 
(23.2
)
 
(340.4
)
Balance at December 31, 2012, net
101.3

 
—

 
229.7

 
732.8

 
181.5

 
1,245.3

Foreign exchange effect and other
0.7

 
—

 
2.0

 
(5.3
)
 
2.9

 
0.3

Balance at December 31, 2013, gross
140.6

 
274.4

 
235.9

 
727.5

 
207.6

 
1,586.0

Accumulated impairment
(38.6
)
 
(274.4
)
 
(4.2
)
 
—

 
(23.2
)
 
(340.4
)
Balance at December 31, 2013, net
102.0

 
—

 
231.7

 
727.5

 
184.4

 
1,245.6

Acquisitions
—

 
—

 
—

 
12.0

 
—

 
12.0

Divestiture
—

 
(141.6
)
 
—

 
(6.1
)
 
—

 
(147.7
)
Foreign exchange effect and other
(2.1
)
 
—

 
(18.3
)
 
(90.6
)
 
(9.5
)
 
(120.5
)
Balance at December 31, 2014, gross
138.5


132.8

 
217.6

 
642.8


198.1

 
1,329.8

Accumulated impairment
(38.6
)
 
(132.8
)
 
(4.2
)
 
—

 
(23.2
)
 
(198.8
)
Balance at December 31, 2014, net
$
99.9

 
$
—

 
$
213.4

 
$
642.8

 
$
174.9

 
$
1,131.0



As of October 1, 2014, the Company performed its annual goodwill impairment test for the MP segment, which resulted in the fair market value of the MP reporting unit exceeding its carrying value by 24%.  While no evidence of impairment was indicated, due to geopolitical uncertainty and short-term volatility in worldwide commodities markets, the Company reviewed the MP reporting unit at December 31, 2014 to determine if the results of the October 1 test would be significantly different.  The Company did not find evidence of impairment at December 31, 2014, but it will continue to monitor the performance of the MP reporting unit and update the test as circumstances warrant.  If the MP reporting unit is unable to achieve its projected cash flows, the outcome of any prospective tests may result in recording goodwill impairment charges in future periods.

Intangible assets, net were comprised of the following as of December 31, 2014 and 2013 (in millions):
 
 
 
December 31, 2014
 
December 31, 2013
 
Weighted Average Life
(in years)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
 
Gross Carrying Amount
 
Accumulated Amortization
 
Net Carrying Amount
Definite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Technology
6
 
$
58.8

 
$
38.4

 
$
20.4

 
$
91.6

 
$
48.7

 
$
42.9

Customer Relationships
16
 
251.9

 
78.4

 
173.5

 
354.7

 
105.2

 
249.5

Land Use Rights
57
 
18.0

 
1.8

 
16.2

 
18.4

 
1.5

 
16.9

Other
7
 
44.6

 
38.2

 
6.4

 
52.2

 
40.4

 
11.8

Total definite-lived intangible assets
 
 
$
373.3

 
$
156.8

 
$
216.5

 
$
516.9

 
$
195.8

 
$
321.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Indefinite-lived intangible assets:
 
 
 
 
 
 
 
 
 
 
 
 
 
Tradenames
 
 
$
108.9

 
 
 
 
 
$
123.7

 
 
 
 
Total indefinite-lived intangible assets
 
 
$
108.9

 
 
 
 
 
$
123.7

 
 
 
 


 
For the Year Ended December 31,
(in millions)
2014
 
2013
 
2012
Aggregate Amortization Expense
$
37.6

 
$
38.6

 
$
43.0



Estimated aggregate intangible asset amortization expense (in millions) for the next five years is as follows:
2015
 
$
26.0

2016
 
$
24.1

2017
 
$
19.7

2018
 
$
15.1

2019
 
$
14.8