GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2015

6.GOODWILL AND INTANGIBLE ASSETS

Changes in the Company’s goodwill for the years ended December 31, 2015 and 2014 consist of the following (in millions):

	Goodwill
	Ocean
	Transportation		Logistics		Total
Balance at December 31, 2013	$	0.8	$	26.6	$	27.4
Additions	—		—		—

Balance at December 31, 2014	0.8		26.6		27.4
Additions	214.2		—		214.2

Balance at December 31, 2015	$	215.0	$	26.6	$	241.6

Goodwill related to the Ocean Transportation reporting unit increased $214.2 million during the year ended December 31, 2015 related to the Horizon Acquisition (see Note 3). There was no accumulated impairment related to goodwill as of December 31, 2015 and 2014.

Intangible assets as of December 31, 2015 and 2014 include the following (in millions):

	Intangible Assets
	Ocean
	Transportation			Logistics			Total
Gross Amount at December 31, 2014	$	0.6		$	9.8		$	10.4
Additions	140.0			1.0			141.0

Gross Amount at December 31, 2015	140.6			12.0			151.4
Accumulated Amortization	(4.2		)	(8.1		)	(12.3		)

Net Amount at December 31, 2015	$	136.4		$	2.7		$	139.1

	Intangible Assets
	Ocean
	Transportation			Logistics			Total
Gross Amount at December 31, 2013	$	0.6		$	9.8		$	10.4
Additions	—			—			—

Gross Amount at December 31, 2014	0.6			9.8			10.4
Accumulated Amortization	(0.3		)	(7.6		)	(7.9		)

Net Amount at December 31, 2014	$	0.3		$	2.2		$	2.5

Intangible assets related to Ocean Transportation increased by $140.0 million during the year ended December 31, 2015 related to customer relationships acquired as part of the Horizon Acquisition, and are being amortized over 21 years (see Note 3). Amortization expense was $4.4 million, $1.3 million and $0.8 million for 2015, 2014, and 2013, respectively.

Estimated amortization expenses related to intangible assets over the next five years are as follows (in millions):

	Estimated
	Amortization
Year	Expense
2016	$	7.4
2017	7.4
2018	7.2
2019	7.0
2020	7.0
Thereafter	103.1

Total	$	139.1

- 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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