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Intangible Assets, net | 9 Months Ended
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Sep. 30, 2011
Intangible Assets, net |
Intangible Assets, net |
5. Intangible Assets, net The following table summarizes the Company’s intangible assets, net:
|  | September 30, 2011 |  | December 31, 2010 |
|  | Gross Carrying Amount |  | Accumulated Amortization |  | Gross Carrying Amount |  | Accumulated Amortization |
|  | (in millions) |
Intangible assets subject to amortization: |  |  |  |  |  |  |  |  |
Covenants not to compete |  | $ | 7.4 |  | $ | (6.9 | ) | $ | 7.1 |  | $ | (6.7 | )
Loan fees |  | 31.2 |  | (17.4 | ) | 23.9 |  | (14.1 | )
Customer lists/relationships |  | 470.5 |  | (104.9 | ) | 379.3 |  | (83.7 | )
Software — internal use |  | 8.1 |  | (4.5 | ) | 8.1 |  | (3.8 | )
Other |  | 4.9 |  | (2.0 | ) | 4.9 |  | (1.7 | )
|  | 522.1 |  | (135.7 | ) | 423.3 |  | (110.0 | )
Intangible assets not subject to amortization: |  |  |  |  |  |  |  |  |
Trade names |  | 523.4 |  | — |  | 442.5 |  | — |
|  | $ | 1,045.5 |  | $ | (135.7 | ) | $ | 865.8 |  | $ | (110.0 | )
Intangible assets recorded in connection with the Continental acquisition were $180.2 million (see Note 3). A total of $84.3 million was allocated to the trade names acquired, none of which is subject to amortization. Additionally, the Company recorded other identifiable assets related to customer relationships and covenants not to compete of $95.6 million and $0.3 million, respectively, with weighted average lives of 10 years and 5 years, respectively. The Company also recorded $7.3 million of intangible assets in connection with the amendment of its syndicated credit agreement (see Note 7). The Company recognized amortization expense for intangible assets of $25.9 million and $21.7 million for the nine months ended September 30, 2011 and 2010, respectively. Other changes in intangible assets, net during the nine months ended September 30, 2011 are due to foreign currency translation losses of $7.6 million. The following is a summary of estimated aggregated amortization expense for the remaining three months of 2011 and each of the succeeding five years (in millions):
2011 |  | $ | 9.9 |
2012 |  | 39.5 |
2013 |  | 39.4 |
2014 |  | 37.4 |
2015 |  | 35.8 |
2016 |  | 34.2 |

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- Definition The entire disclosure for all or part of the information related to intangible assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16373-109275 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Statement of Financial Accounting Standard (FAS) -Number 142 -Paragraph 44, 45, 46 -LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy. Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 30 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6905858&loc=d3e16265-109275 + Details
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