GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

As of September 30, 2015, the Company has recorded goodwill of $6,068.6, which includes a preliminary goodwill balance of $2,907.8 related to the Acquisition. Effective in the first quarter of 2015, the Company changed its operating segments due to a change in its underlying organizational model designed to support the business following the Acquisition (see Note 14 - Business Segment Information). The Company did not operate under the realigned operating segment structure prior to the first quarter of 2015. This change in segments resulted in a reassignment of goodwill of approximately $110.5 among the Company’s reportable segments (and reporting units) based on relative fair value. Prior period information has been retrospectively adjusted to reflect this reassignment.

The following is a summary of the Company’s goodwill by reportable segment, reflecting the retrospective reassignment as of December 31, 2014:



LCD	$	2,988.9
CDD	110.5
	$	3,099.4

The changes in the carrying amount of goodwill for the nine month period ended September 30, 2015 and for the year ended December 31, 2014 are as follows:



	LCD						CDD				Total
	September 30, 2015			December 31, 2014			September 30, 2015		December 31, 2014		September 30, 2015			December 31, 2014
Balance as of January 1	$	2,988.9		$	2,912.3		$	110.5	$	110.5	$	3,099.4		$	3,022.8
Goodwill acquired during the period	72.2			81.8			2,907.8		—		2,980.0			81.8
Foreign currency impact and other adjustments to goodwill	(10.9		)	(5.2		)	0.1		—		(10.8		)	(5.2		)
Balance at end of period	$	3,050.2		$	2,988.9		$	3,018.4	$	110.5	$	6,068.6		$	3,099.4

The components of identifiable intangible assets are as follows:



	September 30, 2015							December 31, 2014
	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Customer relationships	$	3,290.8	$	(699.4	)	$	2,591.4	$	1,361.6	$	(606.8	)	$	754.8
Patents, licenses and technology	184.5		(107.3		)	77.2		125.9		(95.9		)	30.0
Non-compete agreements	49.2		(36.0		)	13.2		45.6		(31.7		)	13.9
Trade names	428.7		(109.9		)	318.8		133.3		(91.6		)	41.7
Land use right	5.5		(0.4		)	5.1		—		—			—
Canadian licenses	555.3		—			555.3		635.4		—			635.4
	$	4,514.0	$	(953.0	)	$	3,561.0	$	2,301.8	$	(826.0	)	$	1,475.8

Amortization of intangible assets for the three-month and nine-month periods ended September 30, 2015 was $47.1 and $126.2, respectively; and $18.3 and $61.3 for the three-month and nine-month periods ended September 30, 2014, respectively. Amortization expense for the net carrying amount of intangible assets is estimated to be $47.9 for the remainder of fiscal 2015, $183.3 in fiscal 2016, $176.1 in fiscal 2017, $165.4 in fiscal 2018, $158.7 in fiscal 2019 and $2,259.9 thereafter.

- 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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