Goodwill and Other Intangible Assets, net

6 Months Ended

Jun. 30, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, net

As a result of the sale of CFS on March 20, 2018, the Company reclassified $149.7 million of goodwill and $169.4 million of other intangible assets, net allocated to the CFS segment as of December 31, 2017, to discontinued operations within long-term assets on the Condensed Consolidated Balance Sheets.

The changes in the carrying amount of goodwill, net for the six months ended June 30, 2018, follows:



(in millions)	CCM			CIT		CFT			CBF ⁽¹⁾		Total
Balance as of December 31, 2017	$	544.3		$	640.3	$	171.0		$	96.5	$	1,452.1
Goodwill acquired during year ⁽²⁾	2.8			2.6		—			—		5.4
Measurement period adjustments ⁽³⁾	(7.8		)	—		—			—		(7.8		)
Currency translation and other	(1.4		)	0.3		(0.6		)	—		(1.7		)
Balance as of June 30, 2018	$	537.9		$	643.2	$	170.4		$	96.5	$	1,448.0


⁽¹⁾	CBF goodwill balance as of December 31, 2017, is presented net of accumulated impairment losses of $130.0 million recorded in 2016. No other segments have incurred impairment losses.


⁽²⁾	For the first six months of 2018, Carlisle acquired three businesses for an aggregate purchase price of $20.0 million.


⁽³⁾	Refer to Note 4 for further information on goodwill adjustments resulting from recent acquisitions.

A summary of the Company's other intangible assets, net follows:



	June 30, 2018							December 31, 2017
(in millions)	Acquired Cost		Accumulated Amortization			Net Book Value		Acquired Cost		Accumulated Amortization			Net Book Value
Assets subject to amortization:
Customer relationships	$	845.6	$	(258.6	)	$	587.0	$	844.8	$	(230.8	)	$	614.0
Technology and intellectual property	232.6		(106.1		)	126.5		272.0		(95.6		)	176.4
Trade names and other	79.7		(18.7		)	61.0		40.1		(9.6		)	30.5
Assets not subject to amortization:
Trade names	244.7		—			244.7		244.1		—			244.1
Other intangible assets, net	$	1,402.6	$	(383.4	)	$	1,019.2	$	1,401.0	$	(336.0	)	$	1,065.0

The net book values of other intangible assets, net by reportable segment follows:



(in millions)	June 30, 2018		December 31, 2017
Carlisle Construction Materials	$	307.9	$	325.1
Carlisle Interconnect Technologies	329.2		344.5
Carlisle Fluid Technologies	292.0		302.5
Carlisle Brake & Friction	89.8		92.9
Corporate	0.3		—
Total	$	1,019.2	$	1,065.0

- 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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