On June 30, 2005, Sirona Holdings Luxco S.C.A. (''Luxco''), a Luxembourg-based holding entity owned by funds managed by Madison Dearborn Partners, Beecken Petty O'Keefe, management and employees of Sirona, obtained control over the Sirona business. The transaction was effected by using new legal entities, Sirona Holding GmbH and its wholly owned subsidiary Sirona Dental Services GmbH, to acquire 100% of the interest in Sirona Dental Systems Beteiligungs- und Verwaltungs GmbH, the former parent of the Sirona business through a leveraged buy-out transaction (the ''MDP Transaction''). The MDP Transaction was accounted for as a leveraged buyout transaction, in a manner similar to a business combination. Certain members of Sirona management who were deemed to be in the control group held equity interests in Sirona Group prior to and subsequent to the MDP Transaction (''Continuing Shareholders''). The interests of the Continuing Shareholders have been reflected at the predecessor basis, resulting in 9.15% of each asset and liability acquired being valued at historical cost at June 30, 2005. The remaining 90.85% interest in each asset and liability was recognized at fair value at June 30, 2005 and the excess of purchase price over predecessor basis is presented as a separate component of shareholders' equity. Intangible assets and goodwill were primarily recorded in the MDP Transaction and the reverse acquisition of Schick on June 30, 2006.

Amortization expense for finite-lived identifiable intangible assets for the fiscal years ended September 30, 2013, 2012, and 2011, and the annual estimated amortization expense related to these intangible assets for the next five fiscal years are as follows:

		Amortization Expense for Finite-Lived Assets
		$'000s

Fiscal year ended September 30, 2013		40,603
Fiscal year ended September 30, 2012		47,949
Fiscal year ended September 30, 2011		54,941


Year ending September 30,		Annual Estimated Amortization Expense (Future)
		$'000s

2014		34,212
2015		28,183
2016		21,435
2017		12,465
2018		8,657

The following table presents details of intangible assets, related accumulated amortization and goodwill:

				Accumulated
		Gross		amortization		Net
		$'000s
As of September 30, 2013
Patents & Licenses	$	152,238	$	99,112	$	53,126
Trademarks		130,760		864		129,896
Technologies and dealer relationships		491,313		403,154		88,159
In-process research & development		30,537		-		30,537
		804,848		503,130		301,718

Goodwill		672,086		-		672,086
Total intangible assets	$	1,476,934	$	503,130	$	973,804


				Accumulated
		Gross		amortization		Net
		$'000s
As of September 30, 2012
Patents & Licenses	$	134,251	$	83,241	$	51,010
Trademarks		126,245		728		125,517
Technologies and dealer relationships		434,166		362,478		71,688
In-process research & development		40,341		-		40,341
		735,003		446,447		288,556

Goodwill		631,077		-		631,077
Total intangible assets	$	1,366,080	$	446,447	$	919,633

The change in the value of goodwill from September 30, 2012 to September 30, 2013 is mainly attributable to (i) foreign currency fluctuations, with an impact of $ 22,969, (ii) the acquisition of a technology company in the first quarter of fiscal year 2013, which resulted in $ 18,167 of goodwill, and (iii) a reduction in goodwill by $ (127) as a result of tax benefits received subsequent to the exchange for options that were vested and included in the determination of purchase price at the time of that acquisition.

Aside from normal amortization for the current fiscal year, the change in the value of intangible assets, excluding goodwill and the acquired IPR&D, from September 30, 2012 to September 30, 2013, is mainly attributable to (i) acquired patents and developed technology in connection with the acquisition of a technology company in the first quarter of fiscal year 2013, with an impact of $11,113 and $3,079, respectively, and (ii) foreign currency fluctuations, with an impact of $ 8,721.

The change in IPR&D during the period resulted from (i) the acquisition of a technology company in the first quarter of fiscal year 2013 and (ii) the realization and commercialization of the single project that was in process at September 30, 2012 with a carrying value of $40.3 million, which was reclassified as a technology asset during the current period. The total carrying value of IPR&D of $30.5 million as of fiscal year end 2013 represented a single project. The remaining estimated cost to complete the project was $3.5 million. The project is 55% through the development phase; the remaining steps prior to product release are further development, prototype finalization and testing, integration and field testing, and regulatory approvals. The percentage of completion for the full project is 40%, and we anticipate project completion in the second half of 2015.