(5) Business Combinations, Goodwill and Other Intangible Assets

2014 Business Combinations Activity

During the nine months ended September 30, 2014, we completed five new acquisitions located in the United States, Spain, France, Sweden and Malaysia; we also purchased a portion of the minority ownership in our Indian operations, for which we had previously recorded a minority shareholder redemption liability on the balance sheet, increasing our ownership from 90% to 95%. Aggregate terms of these acquisitions included: (1) cash paid at closing of $24.2 million, (2) consideration subject only to the passage of time of $11.9 million, (3) consideration subject to provisions that will be paid upon certain conditions being met, which is recorded at the acquisition date fair value of $4.1 million and (4) a redeemable noncontrolling interest of $14.1 million. The acquisition we completed in Sweden includes a redeemable noncontrolling interest in the form of an option agreement that allows the Company to purchase, and the noncontrolling shareholder to put to the Company, this noncontrolling interest in the acquired company in annual increments over the next four years at a price determined by the profit generated by the acquiree. The redeemable noncontrolling interest is recorded on our Consolidated Balance Sheets based on the estimated redemption price, increased for post-acquisition earnings attributable to the noncontrolling interest holder and adjusted for foreign currency translation rates.

During the nine months ended September 30, 2014, we also paid $37.6 million for deferred business acquisition and earn-out obligations for acquisitions completed in prior years.

Earn-Out Payments

At September 30, 2014, we had the potential to make earn-out payments on 15 acquisitions that are subject to the achievement of certain performance conditions. The maximum amount of the potential earn-out payments for these acquisitions was $38.1 million at September 30, 2014, for which we have accrued $22.0 million on our Consolidated Balance Sheet within Other current and long-term liabilities. Assuming the achievement of the applicable performance conditions, we anticipate that the majority of these earn-out payments will be paid over the next four years.

Goodwill and Other Intangible Assets

We had $2.0 billion of goodwill and unamortized intangibles at September 30, 2014. Significant portions of our goodwill and unamortized intangibles are denominated in currencies other than the U.S. dollar, which means that a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates. The tables below detail the foreign exchange impact on our goodwill and intangible balances. The $2.0 billion of goodwill and unamortized intangibles consists of: (1) goodwill of $1.9 billion with indefinite useful lives that is not amortized, (2) identifiable intangibles of $32.9 million that will be amortized over their remaining finite useful lives, and (3) $7.5 million of identifiable intangibles with indefinite useful lives that are not amortized.

The following table details, by reporting segment, the current year movements in goodwill with indefinite useful lives ($ in millions):



	Real Estate Services
	Americas			EMEA		Asia Pacific		LaSalle		Consolidated
Balance as of January 1, 2014	$	995.2		647.6		237.9		19.4		1,900.1
Additions, net of adjustments	8.4			33.2		(1.4	)	—		40.2
Impact of exchange rate movements	(0.2		)	(27.0	)	(1.8	)	(0.3	)	(29.3	)
Balance as of September 30, 2014	$	1,003.4		653.8		234.7		19.1		1,911.0

The following table details, by reporting segment, the current year movements in the gross carrying amount and accumulated amortization of our identifiable intangibles ($ in millions):



	Real Estate Services
	Americas			EMEA		Asia Pacific		LaSalle		Consolidated
Gross Book Value
Balance as of January 1, 2014	$	101.4		43.1		9.8		7.8		$	162.0
Additions	1.0			2.4		—		—		3.4
Impact of exchange rate movements	—			(1.2	)	(0.1	)	(0.2	)	(1.5		)
Balance as of September 30, 2014	$	102.3		44.3		9.7		7.6		163.9

Accumulated Amortization
Balance as of January 1, 2014	$	(78.2	)	(29.4	)	(8.7	)	(0.1	)	(116.4		)
Amortization expense	(5.0		)	(2.7	)	(0.4	)	—		(8.1		)
Impact of exchange rate movements	—			0.9		0.1		—		1.0
Balance as of September 30, 2014	$	(83.2	)	(31.2	)	(9.0	)	(0.1	)	(123.5		)

Net book value as of September 30, 2014	$	19.1		13.1		0.7		7.5		$	40.4

We amortize our identifiable intangible assets with finite lives on a straight-line basis over their useful lives. The remaining estimated future amortization expense by year for our identifiable intangible assets with finite useful lives at September 30, 2014, is as follows ($ in millions):



2014 (3 months)	$	2.7
2015	9.2
2016	5.3
2017	4.8
2018	3.9
2019	3.2
Thereafter	3.8
Total	$	32.9