Goodwill

9 Months Ended

Sep. 30, 2011

Goodwill

Goodwill

NOTE 6. GOODWILL

The following table shows the rollforward of goodwill reflected in the financial statements associated with the Company's acquisition activities ($ in millions).

Balance, December 31, 2010	$	10,483.0
Acquisitions		3,972.2
Foreign currency translation & other		(22.1	)
Balance, September 30, 2011	$	14,433.1

The carrying value of goodwill by segment as of September 30, 2011 and December 31, 2010 is summarized as follows ($ in millions):

Segment	September 30, 2011		December 31, 2010
Test & Measurement	$	3,022.3	$	3,001.6
Environmental		1,394.0		1,383.6
Life Sciences & Diagnostics		5,750.0		2,122.4
Dental		2,149.2		2,114.5
Industrial Technologies		2,117.6		1,860.9
	$	14,433.1	$	10,483.0

Goodwill arises from the amount by which the purchase price for acquired businesses exceeds the fair value of tangible and intangible assets acquired less assumed liabilities and non-controlling interests. Management assesses goodwill for impairment for each of its reporting units at least annually at the beginning of the fourth quarter or as "triggering" events occur. The Company's most recent annual impairment test was performed as of the first day of the Company's fourth quarter of 2010 and no impairment was identified. In making its assessment of goodwill impairment, management relies on a number of factors including operating results, business plans, economic projections, anticipated future cash flows, and transactions and market place data. The factors used by management in its impairment analysis are inherently subject to uncertainty. While the Company believes it has made reasonable estimates and assumptions to calculate the fair value of its reporting units, if actual results are not consistent with management's estimates and assumptions, goodwill and other intangible assets may be overstated and a charge would need to be taken against net earnings.