Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2013

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets:

Goodwill

The changes in the carrying amount of goodwill in 2013 and 2012, in total and by segment, are summarized in the table below (in millions):



Segment:	Balance at December 31, 2011 ⁽²⁾		Acquisitions / (Dispositions)		Other⁽¹⁾		Balance at December 31, 2012		Acquisitions / (Dispositions)		Other⁽¹⁾			Balance at December 31, 2013
Residential Heating & Cooling	$	26.1	$	—	$	—	$	26.1	$	—	$	—		$	26.1
Commercial Heating & Cooling	63.5		—		0.3		63.8		—		0.8			64.6
Refrigeration	133.6		—		0.3		133.9		—		(7.8		)	126.1
	$	223.2	$	—	$	0.6	$	223.8	$	—	$	(7.0	)	$	216.8

⁽¹⁾ Other consists of changes in foreign currency translation rates.

⁽²⁾ The goodwill balances in the table above are presented net of accumulated impairment charges of $16.4 million, all of which relate to impairments in periods prior to 2011.

We performed our annual impairment test of goodwill for 2013 and determined that it was not more likely than not the fair values of our reporting units, individually or collectively, were less than their carrying values based on a qualitative review of impairment indicators. Accordingly, a quantitative impairment analysis was not performed and no impairments were recognized as part of the annual test. No other indicators of impairment were identified from the date of our annual impairment test through December 31, 2013. Also, we did not record any goodwill impairments related to continuing operations in 2011 or 2012. Refer to Note 17 for information on goodwill related to discontinued operations.

Intangible Assets

As of December 31, 2013 and 2012, there were $9.4 million of indefinite-lived intangible assets recorded in Other assets, net in the accompanying Consolidated Balance Sheets. These intangible assets consisted primarily of trademarks and are not subject to amortization.

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



	As of December 31,
	2013							2012
	Gross Amount		Accumulated Amortization			Net Amount		Gross Amount		Accumulated Amortization			Net Amount
Deferred financing costs	$	5.0	$	(2.3	)	$	2.7	$	5.0	$	(1.5	)	$	3.5
Customer relationships	42.6		(20.6		)	22.0		42.6		(18.2		)	24.4
Patents and others	8.5		(7.3		)	1.2		8.1		(6.6		)	1.5
Total	$	56.1	$	(30.2	)	$	25.9	$	55.7	$	(26.3	)	$	29.4

Amortization expense related to these intangible and other assets was as follows (in millions):



	For the Years Ended December 31,
	2013		2012		2011
Amortization expense	$	3.9	$	3.8	$	4.7

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



Estimated Future Amortization Expense:
2014	$	3.7
2015	3.5
2016	3.4
2017	2.8
2018	2.7
Thereafter	9.8

We did not have any impairments of intangible assets related to continuing operations in 2013 or 2012. See Note 17 for information on impairments of intangible assets related to discontinued operations.

- 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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