ADP 2015 Annual Report Download - page 59

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NOTE 6 . GOODWILL AND INTANGIBLE ASSETS, NET
Changes in goodwill for the fiscal years ended June 30, 2016 and 2015 are as follows:
Employer
Services
PEO
Services
Other
Total
Balance at June 30, 2014 (A) $ 1,878.7
$ 4.8
$ —
$ 1,883.5
Additions and other adjustments, net 6.8
—
—
6.8
Currency translation adjustments (96.8)
—
—
(96.8)
Balance at June 30, 2015 (A) $ 1,788.7
$ 4.8
$ —
$ 1,793.5
Transfer of AMD goodwill (see Note 15) (100.4)
—
100.4
—
Currency translation adjustments (11.1)
—
—
(11.1)
Disposition of AMD —
—
(100.4)
(100.4)
Balance at June 30, 2016 $ 1,677.2
$ 4.8
$ —
$ 1,682.0
(A) The goodwill balance at June 30, 2015 and 2014 is net of accumulated impairment losses of $42.7 million related to the Employer Services segment.
Components of intangible assets, net, are as follows:
June 30,
2016
2015
Intangible assets:
Software and software licenses
$ 1,811.6
$ 1,648.7
Customer contracts and lists
603.7
625.4
Other intangibles
207.8
209.0
2,623.1
2,483.1
Less accumulated amortization:
Software and software licenses
(1,403.8)
(1,308.7)
Customer contracts and lists
(486.4)
(478.6)
Other intangibles
(198.7)
(192.6)
(2,088.9)
(1,979.9)
Intangible assets, net
$ 534.2
$ 503.2
Other intangibles consist primarily of purchased rights, covenants, patents, and trademarks (acquired directly or through acquisitions). All of the
intangible assets have finite lives and, as such, are subject to amortization. The weighted average remaining useful life of the intangible assets is 5 years ( 4 years
for software and software licenses, 9 years for customer contracts and lists, and 2 years for other intangibles). Amortization of intangible assets was $153.0 million
, $150.7 million , and $142.5 million for fiscal 2016 , 2015 , and 2014 , respectively.
Estimated future amortization expenses of the Company's existing intangible assets are as follows:
Amount
Twelve months ending June 30, 2017 $ 153.5
Twelve months ending June 30, 2018 $ 118.3
Twelve months ending June 30, 2019 $ 85.5
Twelve months ending June 30, 2020 $ 62.4
Twelve months ending June 30, 2021 $ 47.9
57