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Newell Rubbermaid Inc. 2007 Annual Report
57
FOOTNOTE 7
Goodwill and Other Intangible Assets, Net
A summary of changes in the Company’s goodwill is as follows (in millions):
2007 2006
Balance at January 1, $2,435.7 $2,304.4
Acquisitions (1) 71.8 68.9
Other, primarily foreign currency translation 101.2 62.4
Balance at December 31, $2,608.7 $2,435.7
The following table summarizes goodwill by reportable segment as of December 31, (in millions). Management considers goodwill a corporate asset
and does not consider goodwill and changes to goodwill balances in evaluating reportable segment performance. As a result, goodwill has been reflected
as a corporate asset in the segment information included in Footnote 18.
2007 2006
Cleaning, Organization & Décor $ 245.2 $ 219.9
Office Products 1,338.9 1,198.6
Tools & Hardware 736.8 730.4
Other (Home & Family) 287.8 286.8
Total Goodwill $2,608.7 $2,435.7
Other intangible assets, net consisted of the following as of December 31, (in millions):
Weighted Average
2007 2006 Amortization Period Amortization Periods
Trade names
—
indefinite life $279.4 $274.8 N/A N/A
Trade names
—
other 45.2 49.2 9 years 2–20 years
Other (2) 271.0 219.9 8 years 3–14 years
595.6 543.9
Accumulated amortization (93.8) (85.1)
$501.8 $458.8
(1) Represents Endicia ($46.2 million) and other individually immaterial acquisitions ($25.6 million) in 2007 and Dymo ($28.5 million), CardScan ($16.0 million) and other individually immaterial
acquisitions ($24.4 million) in 2006.
(2) Other consists primarily of capitalized software, non-compete agreements, patents and customer lists.
Other intangible amortization expense, including capitalized software amortization, was $33.8 million in both 2007 and 2006 and $14.6 million in 2005.
As of December 31, 2007, the aggregate estimated intangible amortization amounts for the succeeding five years are as follows (in millions):
2008 2009 2010 2011 2012
$37.5 $32.9 $27.0 $18.8 $15.9
Actual amortization expense to be reported in future periods could differ materially from these estimates as a result of acquisitions, changes in useful
lives and other relevant factors.