Intangible Assets, net

12 Months Ended

Dec. 31, 2011

Note 6. Intangible Assets, net

Intangible assets, net, consisted of the following:

	December 31, 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	$	7.3	$	(6.9	)	$	7.1	$	(6.7	)
Loan fees		31.2		(17.6	)		23.9		(14.1	)
Customer lists/relationships		477.7		(114.2	)		379.3		(83.7	)
Software—internal use		8.1		(4.7	)		8.1		(3.8	)
Other		6.6		(2.2	)		4.9		(1.7	)

		530.9		(145.6	)		423.3		(110.0	)
Intangible assets not subject to amortization:
Trade names		510.6		—			442.5		—

	$	1,041.5	$	(145.6	)	$	865.8	$	(110.0	)

Intangible assets recorded in connection with the Company's 2011 acquisition were approximately $174.3 million (see Note 2). The Company also recorded $7.3 million of intangible assets in connection with the amendment of its syndicated credit agreement (see Note 8). Foreign currency translation losses related to intangible assets, net, in 2011 were approximately $5.9 million.

Amortization expense for intangible assets amounted to approximately $35.8 million, $29.6 million and $29.8 million for the years ended December 31, 2011, 2010 and 2009, respectively.

The following is a summary of estimated aggregate amortization expense for each of the next five years:

	(in millions)

2012	$	40.4
2013		40.4
2014		38.4
2015		36.8
2016		35.1

- Definition

The entire disclosure for all or part of the information related to intangible assets.

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