Goodwill And Intangible Assets, Net

12 Months Ended

Jun. 30, 2011

Goodwill And Intangible Assets, Net

Goodwill And Intangible Assets, Net

NOTE 10. GOODWILL AND INTANGIBLE ASSETS, NET

Changes in Goodwill for the fiscal years ended June 30, 2011 and 2010 are as follows:

	Investor Communication Solutions		Securities Processing Solutions			Total
	($ in millions)
Balance as of July 1, 2009	$	290.7	$	191.1		$	481.8
Additions		12.4		20.9			33.3
Cumulative translation adjustments		—		(5.6	)		(5.6	)
Balance as of June 30, 2010		303.1		206.4			509.5
Additions		213.6		—			213.6
Cumulative translation adjustments		0.1		12.4			12.5
Balance as of June 30, 2011	$	516.8	$	218.8		$	735.6

During fiscal year 2010, the Company sold the contracts of substantially all of its securities clearing clients. As a result, goodwill of $29.3 million in the former Clearing and Outsourcing Solutions segment was reclassified to Assets of discontinued operations and subsequently written off in fiscal year 2010 as a result of the sale of this business (see Note 6, "Fair Value of Financial Instruments" and Note 7, "Discontinued Operations").

During fiscal years 2011, 2010 and 2009, the Company performed the required impairment tests of Goodwill under ASC No. 350 and determined that there was no impairment other than as noted above.

Intangible assets at cost and accumulated amortization at June 30, 2011 and 2010 are as follows:

	June 30,
	2011							2010
	Original Cost		Accumulated Amortization			Intangible Assets, net		Original Cost		Accumulated Amortization			Intangible Assets, net
	($ in millions)
Software and software licenses	$	120.8	$	(59.3	)	$	61.5	$	71.3	$	(46.2	)	$	25.1
Customer contracts and lists		94.7		(19.5	)		75.2		31.7		(12.6	)		19.1
Other intangibles		13.0		(2.5	)		10.5		2.6		(0.7	)		1.9
	$	228.5	$	(81.3	)	$	147.2	$	105.6	$	(59.5	)	$	46.1

During fiscal year 2010, the customer relationship intangible asset at Ridge was reclassified to Assets of discontinued operations as a result of the sale of the business (see Note 7, "Discontinued Operations"), with an original cost of $22.0 million, and accumulated amortization of $11.1 million associated with this asset.

Other intangibles consist primarily of purchased rights, covenants, patents, and trademarks (acquired directly or through acquisitions). All of the intangible assets have finite lives and, as such, are subject to amortization. The weighted-average remaining useful life of the intangible assets is 6.8 years (4.7 years for software and software licenses, 7.9 years for customer contracts and lists and 6.2 years for other intangibles). Amortization of intangibles totaled $21.8 million, $9.0 million, and $5.6 million for fiscal years 2011, 2010, and 2009, respectively. Estimated amortization expenses of the Company's existing intangible assets for the next five fiscal years are as follows:

Years Ending June 30,	($ in millions)
2012	$	28.4
2013		25.4
2014		21.8
2015		18.5
2016		16.2