Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 2012

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible assets

Intangible assets at June 30, 2012 and December 31, 2011 consisted of the following:



	June 30, 2012							December 31, 2011
	Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
Customer relationships	$	408,401	$	(253,404	)	$	154,997	$	409,489	$	(237,536	)	$	171,953
Supplier relationships	29,000		(20,662		)	8,338		29,000		(19,213		)	9,787
Software & technology	169,998		(147,759		)	22,239		170,286		(143,456		)	26,830
Trademarks & trade names	34,560		(31,575		)	2,985		33,908		(30,076		)	3,832
Non-compete agreements	7,381		(7,283		)	98		7,564		(7,363		)	201
Total intangible assets	$	649,340	$	(460,683	)	$	188,657	$	650,247	$	(437,644	)	$	212,603

Amortization expense for intangible assets was $11 million and $14 million for the three months ended June 30, 2012 and 2011, respectively, and $23 million and $29 million for the six months ended June 30, 2012 and 2011, respectively. The future amortization expense for intangible assets as of June 30, 2012 was as follows:



Remaining for year ended December 31, 2012	$	21,622
Year ended December 31, 2013	41,849
Year ended December 31, 2014	36,496
Year ended December 31, 2015	32,541
Year ended December 31, 2016	23,997
Thereafter	32,152
Total	$	188,657

Actual amortization expense may differ from the amounts above due to, among other things, fluctuations in foreign currency exchange rates, impairments, future acquisitions and accelerated amortization.

Goodwill

The changes in the carrying amount of goodwill, by reporting segment, for the six months ended June 30, 2012 were as follows:



	December 31, 2011		Other (1)			June 30, 2012
North America Mailing	$	352,897	$	(2,787	)	$	350,110
International Mailing	189,067		(11,698		)	177,369
Small & Medium Business Solutions	541,964		(14,485		)	527,479
Production Mail	127,589		640			128,229
Software	667,124		650			667,774
Management Services	402,723		(333		)	402,390
Mail Services	213,455		(1		)	213,454
Marketing Services	194,233		—			194,233
Enterprise Business Solutions	1,605,124		956			1,606,080
Total	$	2,147,088	$	(13,529	)	$	2,133,559


(1)	Primarily foreign currency translation adjustments.

- 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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