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GOODWILL AND INTANGIBLE ASSETS, NET
6 Months Ended
Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL
GOODWILL AND INTANGIBLE ASSETS, NET

An analysis of changes in the Company’s goodwill by business segment is as follows (in millions):
 
AWP
 
Cranes
 
MP
 
Total
Balance at December 31, 2015, gross
$
137.7

 
$
183.1

 
$
204.3

 
$
525.1

Accumulated impairment
(38.6
)
 
(4.2
)
 
(23.2
)
 
(66.0
)
Balance at December 31, 2015, net (1)
99.1

 
178.9

 
181.1

 
459.1

Foreign exchange effect and other
(0.5
)
 
3.0

 
(11.3
)
 
(8.8
)
Balance at June 30, 2016, gross
137.2

 
186.1

 
193.0

 
516.3

Accumulated impairment
(38.6
)
 
(4.2
)
 
(23.2
)
 
(66.0
)
Balance at June 30, 2016, net (2)
$
98.6

 
$
181.9

 
$
169.8

 
$
450.3


(1) Includes a $17.9 million reclassification of goodwill from Cranes to discontinued operations, and a $0.9 million reclassification of goodwill from Cranes to AWP as a result of segment realignments. See Note C - “Business Segment Information”.
(2) During the second quarter of 2016 the Company wrote off $132.8 million of fully impaired goodwill associated with its former Construction segment.
Intangible assets, net were comprised of the following as of June 30, 2016 and December 31, 2015 (in millions):
 
 
 
June 30, 2016
 
December 31, 2015
 
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
7
 
$
17.9

 
$
(16.3
)
 
$
1.6

 
$
17.3

 
$
(15.7
)
 
$
1.6

Customer Relationships
21
 
34.2

 
(24.8
)
 
9.4

 
34.8

 
(24.9
)
 
9.9

Land Use Rights
67
 
8.2

 
(0.9
)
 
7.3

 
8.2

 
(0.9
)
 
7.3

Other
6
 
27.9

 
(24.2
)
 
3.7

 
28.0

 
(24.2
)
 
3.8

Total definite-lived intangible assets
 
 
$
88.2

 
$
(66.2
)
 
$
22.0

 
$
88.3

 
$
(65.7
)
 
$
22.6



 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
(in millions)
2016
 
2015
 
2016
 
2015
Aggregate Amortization Expense
$
0.7

 
$
0.7

 
$
1.4

 
1.5



Estimated aggregate intangible asset amortization expense (in millions) for each of the five years below is:
2016
$
2.9

2017
$
2.8

2018
$
2.3

2019
$
2.2

2020
$
2.2