Goodwill and Other Intangibles

3 Months Ended

Mar. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets Disclosure

Goodwill and Other Intangibles:

The following table summarizes the changes in goodwill for the three months ended March 31, 2015 (in thousands):



Balance at December 31, 2014	$	243,262
Acquisition of Rockwood	2,624,876
Acquisition of remaining interest in Shanghai Chemetall	18,168
Foreign currency translation	(176,636		)
Balance at March 31, 2015	$	2,709,670

The following table summarizes the changes in other intangibles and related accumulated amortization for the three months ended March 31, 2015 (in thousands):



	Customer Lists and Relationships			Trade Names and Trademarks			Patents and Technology			Other			Total
Gross Asset Value
Balance at December 31, 2014	$	48,479		$	17,555		$	40,398		$	23,441		$	129,873
Acquisition of Rockwood	1,339,860			363,120			226,650			27,130			1,956,760
Acquisition of remaining interest in Shanghai Chemetall	76,537			—			1,328			—			77,865
Foreign currency translation adjustments and other	(64,318		)	(27,723		)	(19,855		)	(2,538		)	(114,434		)
Balance at March 31, 2015	$	1,400,558		$	352,952		$	248,521		$	48,033		$	2,050,064
Accumulated Amortization
Balance at December 31, 2014	(22,931		)	(7,912		)	(32,831		)	(22,074		)	(85,748		)
Amortization	(13,003		)	(3,521		)	(3,282		)	(107		)	(19,913		)
Foreign currency translation adjustments and other	1,318			380			1,765			469			3,932
Balance at March 31, 2015	$	(34,616	)	$	(11,053	)	$	(34,348	)	$	(21,712	)	$	(101,729	)
Net Book Value at December 31, 2014	$	25,548		$	9,643		$	7,567		$	1,367		$	44,125
Net Book Value at March 31, 2015	$	1,365,942		$	341,899		$	214,173		$	26,321		$	1,948,335

Total estimated amortization expense of other intangibles acquired in the Rockwood acquisition for the next five years is as follows (in thousands):



	Estimated Amortization Expense
Remainder of 2015	$	64,560
2016	$	86,080
2017	$	86,080
2018	$	86,080
2019	$	86,080

As discussed in Note 2, “Acquisitions,” amounts of goodwill and other intangibles recorded in connection with the Rockwood and Shanghai Chemetall acquisitions are preliminary. Additionally, the preliminary allocation of goodwill and identifiable assets to our reportable segments has not been completed as of the date the financial statements have been issued.

- 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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