Goodwill, Intangible and Other Assets

12 Months Ended

Dec. 31, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill, Intangible and Other Assets:

Goodwill

The changes in the carrying amount of goodwill in 2011 and 2012, in total and by segment, are summarized in the table below (in millions):



	Balance at December 31, 2010							Balance at December 31, 2011						Balance at December 31, 2012
Segment:	Goodwill		Acquisitions / (Dispositions) ⁽¹⁾		Other⁽²⁾			Goodwill		Acquisitions / (Dispositions)		Other⁽²⁾
Residential Heating & Cooling	$	26.1	$	—	$	—		$	26.1	$	—	$	—	$	26.1
Commercial Heating & Cooling	61.7		3.0		(1.2		)	63.5		—		0.3		63.8
Refrigeration	91.5		42.0		0.1			133.6		—		0.3		133.9
	$	179.3	$	45.0	$	(1.1	)	$	223.2	$	—	$	0.6	$	223.8

⁽¹⁾ In the first quarter of 2011, our Refrigeration segment recorded $42.0 million of goodwill associated with the Kysor/Warren acquisition. See Note 3 for more information on this acquisition. In the second quarter of 2011, our Commercial segment acquired a company, resulting in additional goodwill of $3.0 million.

⁽²⁾ Other consists primarily of changes in foreign currency translation rates.

The Goodwill balances presented in the table above are presented net of accumulated impairment charges of $17.0 million, all of which relate to impairments in periods prior to 2011.

Refer to Note 17 for information on goodwill related to discontinued operations.

Intangible and Other Assets

As of December 31, 2012 and 2011, there were $9.4 million of intangible assets not subject to amortization, primarily consisting of trademarks, recorded in Other assets, net in the accompanying Consolidated Balance Sheets.

Identifiable intangible and other assets subject to amortization are recorded in Other Assets in the accompanying Consolidated Balance Sheets and were comprised of the following (in millions):



	As of December 31,
	2012							2011
	Gross Amount		Accumulated Amortization			Net Amount		Gross Amount		Accumulated Amortization			Net Amount
Deferred financing costs	$	11.5	$	(8.0	)	$	3.5	$	11.5	$	(7.2	)	$	4.3
Customer relationships	42.7		(18.3		)	24.4		42.7		(15.8		)	26.9
Patents and others	12.8		(11.3		)	1.5		12.6		(10.7		)	1.9
Total	$	67.0	$	(37.6	)	$	29.4	$	66.8	$	(33.7	)	$	33.1

Amortization of intangible assets was as follows (in millions):



	For the Years Ended December 31,
	2012		2011		2010
Amortization expense	$	3.8	$	4.7	$	1.3

Estimated intangible amortization expense for the next five years is as follows (in millions):



2013	$	3.8
2014	3.6
2015	3.5
2016	3.3
2017	2.8
Thereafter	12.4

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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