Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangibles

v3.3.1.900
Goodwill and Other Intangibles
12 Months Ended
Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangibles
Goodwill and Other Intangibles

A summary of changes in the Company's goodwill during the period ended December 31, 2015, by segment, follows:
(in millions)
December 31, 2014
 
Acquisitions
 
Impairments
 
Adjustments
 
December 31, 2015
Marine Engine
$
28.0

 
$

 
$

 
$
(1.8
)
 
$
26.2

Fitness
268.9

 
3.5

 

 
0.1

 
272.5

    Total
$
296.9

 
$
3.5

 
$

 
$
(1.7
)
 
$
298.7

  


A summary of changes in the Company's goodwill during the period ended December 31, 2014, by segment, follows:
(in millions)
December 31, 2013
 
Acquisitions
 
Impairments
 
Adjustments
 
December 31, 2014
Marine Engine
$
20.8

 
$
8.8

 
$

 
$
(1.6
)
 
$
28.0

Fitness
270.9

 

 

 
(2.0
)
 
268.9

    Total
$
291.7

 
$
8.8

 
$

 
$
(3.6
)
 
$
296.9



Adjustments in 2015 and 2014 relate to the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. See Note 4 – Acquisitions for further details on the Company's acquisitions.

The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2015 and 2014, are summarized below:
 
December 31, 2015
 
December 31, 2014
(in millions)
Gross Amount
 
Accumulated Amortization
 
Gross Amount
 
Accumulated Amortization
Intangible assets:
 
 
 
 
 
 
 
  Customer relationships
$
240.4

 
$
(225.9
)
 
$
234.8

 
$
(223.5
)
  Trade names
37.7

 

 
31.5

 

  Other
16.3

 
(13.4
)
 
15.7

 
(13.0
)
    Total
$
294.4

 
$
(239.3
)
 
$
282.0

 
$
(236.5
)


Other amortized intangible assets include patents, non-compete agreements and other intangible assets. See Note 4 – Acquisitions for further details on intangibles acquired during 2015 and 2014. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $3.0 million, $2.9 million and $2.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Estimated amortization expense for intangible assets is approximately $3 million for the year ending December 31, 2016, approximately $3 million in 2017, approximately $3 million in 2018, approximately $2 million in 2019, and approximately $2 million in 2020.