XML 46 R28.htm IDEA: XBRL DOCUMENT v2.4.1.9
Goodwill and Intangibles, including DAC and VOBA (Tables)
3 Months Ended
Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Definite Lived Intangible Assets
A summary of the changes in the carrying amounts of goodwill and intangible assets, including FGL’s DAC and VOBA balances, are as follows:
 
 
 
Intangible Assets
 
Goodwill
 
Indefinite Lived
 
Definite Lived
 
VOBA
 
DAC
 
Total
Balance at September 30, 2014
$
1,524.8

 
$
1,215.9

 
$
917.2

 
$
86.8

 
$
463.8

 
$
2,683.7

Acquisitions
7.1

 
4.0

 
9.4

 

 

 
13.4

Impairments
(28.3
)
 
(31.9
)
 

 

 

 
(31.9
)
Deferrals

 

 

 

 
95.5

 
95.5

Less: Components of amortization
 
 
 
 
 
 
 
 
 
 
 
Periodic amortization

 

 
(20.5
)
 
(7.6
)
 
(10.5
)
 
(38.6
)
Interest

 

 

 
3.0

 
5.3

 
8.3

Unlocking

 

 

 
0.6

 
(2.1
)
 
(1.5
)
Adjustment for unrealized investment (gains), net

 

 

 
6.9

 
(6.0
)
 
0.9

Effect of translation
(11.7
)
 
(9.4
)
 
(8.1
)
 

 

 
(17.5
)
Balance at December 31, 2014
$
1,491.9

 
$
1,178.6

 
$
898.0

 
$
89.7

 
$
546.0

 
$
2,712.3

Definite lived intangible assets are summarized as follows:
 
December 31, 2014
 
September 30, 2014
 
 
 
Cost
 
Accumulated Amortization
 
Net
 
Cost
 
Accumulated Amortization
 
Net
 
Amortizable Life
Customer relationships
$
876.3

 
$
(213.9
)
 
$
662.4

 
$
877.1

 
$
(204.6
)
 
$
672.5

 
15 to 20 years
Trade names
170.7

 
(65.0
)
 
105.7

 
171.1

 
(61.0
)
 
110.1

 
1 to 12 years
Technology assets
192.2

 
(62.3
)
 
129.9

 
192.2

 
(57.6
)
 
134.6

 
4 to 17 years
 
$
1,239.2

 
$
(341.2
)
 
$
898.0

 
$
1,240.4

 
$
(323.2
)
 
$
917.2

 
 
Summary of Amortization Expense of Definite Lived Intangible Assets
Amortization expense for definite lived intangible assets is as follows:
 
Three months ended December 31,
 
2014
 
2013
Customer relationships
$
11.7

 
$
11.7

Trade names
4.1

 
4.1

Technology assets
4.7

 
4.4

 
$
20.5

 
$
20.2

Estimated Amortization Expense for VOBA and DAC in Future Fiscal Periods
stimated amortization expense for VOBA in future fiscal periods is as follows:
 
 
Estimated Amortization Expense
Fiscal Year
 
VOBA
2015
 
$
32.9

2016
 
40.4

2017
 
32.9

2018
 
26.4

2019
 
21.3

Thereafter
 
93.0