Goodwill and Other Intangible Asset

12 Months Ended

Dec. 31, 2014

Goodwill and Other Intangible Assets

Note 10—Goodwill and Other Intangible Assets

As of December 31, 2014, the Company has goodwill totaling $2,616.7, of which $2,493.0 related to the Interconnect Products and Assemblies segment with the remainder related to the Cable Products and Solutions segment. In 2014, goodwill and intangible assets increased by $327.6 and $118.7, respectively, primarily as a result of two acquisitions in the Interconnect Products and Assemblies segment made during the year. In 2013, goodwill and intangible assets increased by approximately $356.0 and $49.9, respectively, primarily as a result of five acquisitions in the Interconnect Products and Assemblies segment made during the year. The Company is in the process of completing its analysis of fair value of the assets acquired related to its 2014 acquisitions and anticipates that the final assessment of values will not differ materially from the preliminary assessment.

Other than goodwill and indefinite-lived trade name intangible assets with a value of approximately $52.3, the Company’s intangible assets are subject to amortization. A summary of the Company’s amortizable intangible assets as of December 31, 2014 and 2013 is as follows:

	December 31, 2014				December 31, 2013
	Gross Carrying Amount		Accumulated Amortization		Gross Carrying Amount		Accumulated Amortization
Customer relationships	$	299.8	$	92.3	$	202.3	$	69.8
Proprietary technology	53.8		26.5		52.3		22.4
License agreements	6.0		6.0		6.0		6.0
Trade names, Backlog and other	19.7		19.0		11.4		8.9
Total	$	379.3	$	143.8	$	272.0	$	107.1

Customer relationships, proprietary technology, license agreements and trade names, backlog and other amortizable intangible assets have weighted average useful lives of approximately 10 years, 14 years, 8 years and 2 years, respectively, for an aggregate weighted average useful life of approximately 10 years at December 31, 2014.

Intangible assets are included in intangibles and other long-term assets in the accompanying Consolidated Balance Sheets. The aggregate amortization expense for the years ended December 31, 2014, 2013 and 2012 was approximately $36.6, $20.1 and $19.8, respectively. The 2014 amortization includes $9.8 related to the amortization of acquired backlogs of recent acquisitions. Amortization expense estimated for each of the next five fiscal years is approximately $32.9 in 2015, $32.0 in 2016, $31.8 in 2017, $27.8 in 2018 and $23.7 in 2019.

- 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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