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95
Accelerated depreciation and disposal of long-lived assets
The Company’s restructuring actions have resulted in shortened estimated useful lives of certain machinery and equipment and
buildings and subsequent disposal of machinery and equipment no longer in use. Refer to Note 5 of the Notes to Consolidated
Financial Statements for a discussion of these actions and the impact on earnings.
11. GOODWILL AND INTANGIBLE ASSETS
As discussed in Note 4 to the Consolidated Financial Statements the disclosures of goodwill and intangible assets shown below
include preliminary amounts that are subject to measurement period adjustments.
Goodwill
The following table summarizes the changes in the carrying amount of goodwill for each reportable segment and in total during 2015
and 2014.
Enterprise
ISS
Software
Total
Balance at January 1, 2014
$
20.8
$
433.9
$
454.7
Goodwill acquired during the period
–
178.3
178.3
Foreign currency translation
(2.0)
(27.6)
(29.6)
Balance at December 31, 2014
$
18.8
$
584.6
$
603.4
Goodwill acquired during the period
–
743.2
743.2
Foreign currency translation
(2.3)
(19.2)
(21.5)
Balance at December 31, 2015
$
16.5
$
1,308.6
$
1,325.1
Beginning in the third quarter of 2015, the Company elected to record measurement period adjustments in the period in which they are
determined, rather than retrospectively, as permitted under new accounting guidance issued in September 2015; refer to Note 2 of the
Notes to Consolidated Financial Statements for more information. Refer to Note 4 of the Notes to Consolidated Financial Statements
for information on goodwill resulting from business combinations and related measurement period adjustments. The Company does
not have any accumulated impairment charges as of December 31, 2015.
Intangible Assets
The following table summarizes the gross carrying amounts and accumulated amortization of the Company’s intangible assets.
December 31, 2015
December 31, 2014
Accum
Accum
Gross
Amort
Net
Gross
Amort
Net
Intangible assets subject to amortization:
Customer relationships
$
338.2
$
(81.8)
$
256.4
$
141.3
$
(51.7)
$
89.6
Non-compete agreements
4.1
(3.2)
0.9
2.8
(2.6)
0.2
Technology and patents
478.9
(219.5)
259.4
291.5
(151.7)
139.8
Trade names and trademarks
61.9
(46.6)
15.3
50.0
(16.9)
33.1
Total
883.1
(351.1)
532.0
485.6
(222.9)
262.7
Intangible assets not subject to amortization:
In-process technology
0.5
–
0.5
1.6
–
1.6
Total
0.5
–
0.5
1.6
–
1.6
Total identifiable intangible assets
$
883.6
$
(351.1)
$
532.5
$
487.2
$
(222.9)
$
264.3
Intangible assets acquired in a transaction accounted for as a business combination are initially recognized at fair value. Intangible
assets acquired in a transaction accounted for as an asset acquisition are initially recognized at cost. Of the $883.6 million gross
carrying amount at December 31, 2015, $861.7 million were acquired in transactions accounted for as business combinations, $1.1