Intangible Assets, net

6 Months Ended

Jun. 30, 2013

Intangible Assets, net

Intangible Assets, net

5.  Intangible Assets, net

The following table summarizes our intangible assets, net:

	June 30, 2013					December 31, 2012
	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
	(in millions)
Intangible assets subject to amortization:
Covenants not to compete	$	7.9	$	(7.1	)	$	8.0	$	(7.1	)
Loan fees	41.4		(22.4		)	31.2		(20.2		)
Customer lists/relationships	701.6		(175.9		)	524.0		(153.3		)
Software – internal use	8.1		(5.9		)	8.1		(5.5		)
Other	2.8		(1.4		)	6.4		(2.5		)
	761.8		(212.7		)	577.7		(188.6		)
Intangible assets not subject to amortization:
Trade names	764.8		—			547.4		—
	$	1,526.6	$	(212.7	)	$	1,125.1	$	(188.6	)

Intangible assets recorded in connection with our acquisition of Metals USA were $402.0 million (see Note 3). A total of $220.0 million was allocated to the trade names acquired, none of which is subject to amortization. We also recorded $10.3 million of intangible assets in connection with the amendment of our syndicated credit agreement and the new indenture (see Note 7). We recognized amortization expense for intangible assets of $26.4 million and $20.9 million for the six months ended June 30, 2013 and 2012, respectively.

The following is a summary of estimated aggregated amortization expense for the remaining six months of 2013 and each of the succeeding five years:

	(in millions)
2013	$	29.9
2014	57.8
2015	56.2
2016	55.4
2017	51.3
2018	45.1