INTANGIBLE ASSETS

12 Months Ended

Jun. 30, 2013

9. INTANGIBLE ASSETS

General

Intangible assets recorded on our accompanying Consolidated Balance Sheets consisted of the following:


	As of June 30,
	2013		2012
Goodwill	$	47.3	$	45.5
Finite lived intangible assets, net		131.9		137.7
Less: royalty advances and licensed or acquired technologies, short-term		0.0		(4.3	)

Total long-term intangible assets, net	$	179.2	$	178.9

Certain of our intangible assets including goodwill are denominated in foreign currency and, as such, include the effects of foreign currency translation.

Goodwill

The changes in the carrying amount of goodwill consisted of the following:


	As of June 30,
	2013		2012
Goodwill, beginning of year	$	45.5	$	20.3
Adjustment of goodwill related to prior business acquisitions		0.3		—
Goodwill related to business acquisitions		—		27.2
Foreign currency translation adjustment		1.5		(2.0	)

Goodwill, end of year	$	47.3	$	45.5

Finite-Lived Intangible Assets

Finite-lived intangible assets consisted of the following:


					As of June 30, 2013							As of June 30, 2012
	Weighted Average Useful Life (Years)		Useful Life (Years)		Cost		Accumulated Amortization			Net		Cost		Accumulated Amortization			Net
Finite-lived intangible assets:
Developed, licensed or acquired technologies		7		1–15	$	125.4	$	(40.9	)	$	84.5	$	122.0	$	(26.6	)	$	95.4
Royalty advances for licensed brands, talent, music and other		5		1–15		120.5		(98.6	)		21.9		103.4		(81.3	)		22.1
Patents, trademarks and other		4		4–17		43.6		(18.1	)		25.5		39.2		(19.0	)		20.2

Total					$	289.5	$	(157.6	)	$	131.9	$	264.6	$	(126.9	)	$	137.7

During fiscal 2013, we retired $4.4 million of patents, trademarks and other and $2.0 million of developed licensed or acquired technologies, which had zero net book value. During fiscal 2012, we retired $15.7 million of royalty advances, which had zero net book value.

The following table summarizes additions to finite-lived intangible assets during fiscal 2013.


	Total Additions
Finite-lived intangible assets:
Developed licensed or acquired technologies	$	5.4
Royalty advances for licensed brands, talent, music and other		17.1
Patents, trademarks and other		8.8

Total	$	31.3

The following table summarizes additions to finite-lived intangible assets during fiscal 2012.


	Total Additions
Finite-lived intangible assets:
Developed licensed or acquired technologies	$	3.8
Royalty advances for licensed brands, talent, music and other		14.9
Patents, trademarks and other		5.4

Total	$	24.1

The actual amortization expense for our finite-lived intangible assets for the past three years, including $14.4 million recorded as impairment charges in fiscal 2011, and estimated aggregate amortization expense for finite-lived intangible assets for each of the next five years and thereafter is as follows:


Year Ended June 30,
Actual					Estimated
2011	2012		2013		2014		2015		2016		2017		2018		Thereafter
$38.3	$	25.3	$	35.0	$	19.0	$	19.7	$	21.2	$	19.6	$	13.7	$	38.7

The estimated aggregate future intangible amortization as of June 30, 2013 does not reflect the significant minimum commitments we have for future payments for royalty advances and licensed or acquired technologies of approximately $60.8 million, which is expected to be amortized over approximately the next 6 years. See Note 15. “Commitments, Contingencies and Indemnifications.”

- 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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