Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

The changes in the carrying amount of goodwill by segment are as follows:



(amounts in millions)	Performance Applications			Agricultural Solutions			Total
December 31, 2014	$	961.2		$	444.1		$	1,405.3
Addition from acquisitions	—			1,697.1			1,697.1
Foreign currency translation and other	(39.1		)	(154.4		)	(193.5		)
March 31, 2015	$	922.1		$	1,986.8		$	2,908.9

The carrying value of indefinite-lived intangible assets other than goodwill, which consist solely of tradenames, was $234 million and $69.3 million at March 31, 2015 and December 31, 2014, respectively.



	March 31, 2015							December 31, 2014
(amounts in millions)	Gross Carrying Amount		Accumulated Amortization and Foreign Exchange			Net Book Value		Gross Carrying Amount		Accumulated Amortization and Foreign Exchange			Net Book Value
Customer lists	$	946.8	$	(105.5	)	$	841.3	$	613.6	$	(71.6	)	$	542.0
Developed technology	1,849.1		(173.1		)	1,676.0		760.5		(50.8		)	709.7
Tradenames	$	18.9	$	(2.5	)	$	16.4	$	19.7	$	(1.0	)	$	18.7
Non-compete agreements	$	1.9	$	(0.3	)	$	1.6	$	1.9	$	(0.1	)	$	1.8
Total	$	2,816.7	$	(281.4	)	$	2,535.3	$	1,395.7	$	(123.5	)	$	1,272.2

Useful lives range from eight to 30 years for customer lists, five to 14 years for developed technology, five to 20 years for tradenames and one to five years for non-compete agreements, which results in weighted average useful lives of 20 years, 12 years, 20 years and five years, respectively, for an aggregate weighted average useful life of approximately 15 years at March 31, 2015.

For the three months ended March 31, 2015 and 2014, the Company recorded amortization expense on intangible assets of $39.8 million and $13.3 million, respectively.

Annual amortization expense on the Company's intangible assets is estimated to total $192 million in 2015, $204 million in each of the years 2016 through 2019, and $203 million in 2020.

- 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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