Goodwill and Other Intangibles Resulting from Business Acquisitions

6 Months Ended

Jul. 02, 2011

Goodwill and Other Intangibles Resulting from Business Acquisitions [Abstract]

Goodwill and Other Intangibles Resulting from Business Acquisitions

Note 3. Goodwill and Other Intangibles Resulting from Business Acquisitions

Goodwill

Changes in the net carrying amount of goodwill from operations for 2011, by reportable segment and other businesses, were as follows:


			Retail
			Branding					Other
	Pressure-		and			Office and		specialty
	sensitive		Information			Consumer		converting
(In millions)	Materials		Solutions			Products		businesses		Total

Goodwill	$	346.0	$	1,243.2		$	168.1	$	3.5	$	1,760.8
Accumulated impairment losses		—		(820.0	)		—		—		(820.0	)

Balance as of January 1, 2011		346.0		423.2			168.1		3.5		940.8
Acquisition adjustments		—		(.4	)		—		—		(.4	)
Translation adjustments		12.9		3.0			5.6		.1		21.6

Balance as of July 2, 2011		358.9		425.8			173.7		3.6		962.0


Goodwill		358.9		1,245.8			173.7		3.6		1,782.0
Accumulated impairment losses		—		(820.0	)		—		—		(820.0	)

Balance as of July 2, 2011	$	358.9	$	425.8		$	173.7	$	3.6	$	962.0

Indefinite-Lived Intangible Assets

The carrying value of indefinite-lived intangible assets resulting from business acquisitions, consisting of trade names and trademarks, was $18.1 million at July 2, 2011, which included $.1 million of favorable currency impact. At January 1, 2011, the carrying value of indefinite-lived intangible assets resulting from business acquisitions was $18 million.

Finite-Lived Intangible Assets

The following table sets forth the Company’s finite-lived intangible assets resulting from business acquisitions at July 2, 2011 and January 1, 2011, which continue to be amortized:


	July 2, 2011						January 1, 2011
	Gross				Net		Gross				Net
	Carrying		Accumulated		Carrying		Carrying		Accumulated		Carrying
(In millions)	Amount		Amortization		Amount		Amount		Amortization		Amount

Customer relationships	$	297.9	$	135.4	$	162.5	$	291.9	$	119.2	$	172.7
Patents and other acquired technology		53.6		30.4		23.2		53.6		28.1		25.5
Trade names and trademarks		46.9		40.2		6.7		44.8		38.0		6.8
Other intangibles		14.6		9.6		5.0		14.4		8.5		5.9

Total	$	413.0	$	215.6	$	197.4	$	404.7	$	193.8	$	210.9

Amortization expense for finite-lived intangible assets resulting from business acquisitions was $8.4 million and $16.8 million for the three and six months ended July 2, 2011, respectively, and $8.1 million and $16.3 million for the three and six months ended July 3, 2010, respectively.

The estimated amortization expense for finite-lived intangible assets resulting from business acquisitions for the current fiscal year and each of the next four fiscal years is expected to be as follows:


(In millions)	Estimated Amortization Expense

2011	$	33.7
2012		33.5
2013		31.7
2014		28.0
2015		24.6

- 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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