Goodwill and Intangible Assets

9 Months Ended

Jun. 27, 2014

Goodwill and Intangible Assets Disclosure [Abstract]



10.	Goodwill and Intangible Assets

The carrying amount of goodwill by segment for the periods presented was as follows:



	Specialty Pharmaceuticals		Global Medical Imaging		Total
Goodwill at September 27, 2013	$	312.3	$	219.7	$	532.0
Acquisitions	322.2		—		322.2
Goodwill at June 27, 2014	$	634.5	$	219.7	$	854.2

The gross carrying amount and accumulated amortization of intangible assets at the end of each period were as follows:



	June 27, 2014				September 27, 2013
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Amortizable:
Completed technology	$	1,749.2	$	259.2	$	449.2	$	196.6
Licenses	201.1		88.8		191.1		79.3
Trademarks	7.9		4.0		7.9		3.8
Other	7.2		3.6		—		—
Total	$	1,965.4	$	355.6	$	648.2	$	279.7
Non-amortizable:
Trademarks	$	35.0			$	35.0
In-process research and development	18.6				18.6
Total	$	53.6			$	53.6

On March 19, 2014, the Company completed the Cadence Acquisition and acquired a $1.3 billion completed technology intangible asset relating to Cadence's sole product, Ofirmev, the rights to which have been in-licensed from BMS. For more information on the intangible asset, acquisition and BMS license agreement, refer to Note 4.

In March 2014, the Company obtained approval from the FDA for XARTEMIS™ XR (oxycodone HCl and acetaminophen) extended-release tablets (CII), resulting in a milestone payment of $10.0 million. In January 2014, the Company purchased royalty rights associated with EXALGO® (hydromorphone HCl) extended-release tablets (CII) for $7.2 million.

Intangible asset amortization expense was $51.6 million and $8.9 million during the three months ended June 27, 2014 and June 28, 2013, respectively, and $75.9 million and $26.6 million during the nine months ended June 27, 2014 and June 28, 2013, respectively. The estimated aggregate amortization expense on intangible assets owned by the Company is expected to be as follows:




Remainder of fiscal 2014	$	51.4
Fiscal 2015	200.2
Fiscal 2016	198.4
Fiscal 2017	196.9
Fiscal 2018	188.2

- 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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