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Intangible Assets, net
 3 Months Ended
Mar. 31, 2012
Intangible Assets, net  
Intangible Assets, net

5.  Intangible Assets, net

 

The following table summarizes our intangible assets, net:

 

 

 

March 31, 2012

 

December 31, 2011

 

 

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

Gross
Carrying
Amount

 

Accumulated
Amortization

 

 

 

(in millions)

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

Covenants not to compete

 

$

7.6

 

$

(7.0

)

$

7.3

 

$

(6.9

)

Loan fees

 

31.2

 

(18.3

)

31.2

 

(17.6

)

Customer lists/relationships

 

480.7

 

(123.6

)

477.7

 

(114.2

)

Software – internal use

 

8.1

 

(4.9

)

8.1

 

(4.7

)

Other

 

6.7

 

(2.2

)

6.6

 

(2.2

)

 

 

534.3

 

(156.0

)

530.9

 

(145.6

)

Intangible assets not subject to amortization:

 

 

 

 

 

 

 

 

 

Trade names

 

512.6

 

—

 

510.6

 

—

 

 

 

$

1,046.9

 

$

(156.0

)

$

1,041.5

 

$

(145.6

)

 

Intangible assets recorded in connection with the McKey acquisition were $2.3 million (see Note 3). We recognized amortization expense for intangible assets of $10.2 million and $7.9 million for the three months ended March 31, 2012 and 2011, respectively. Other changes in intangible assets, net during the three months ended March 31, 2012 are due to foreign currency translation gains of $2.9 million.

 

The following is a summary of estimated aggregated amortization expense for the remaining nine months of 2012 and each of the succeeding five years:

 

 

 

(in millions)

 

2012

 

$

30.6

 

2013

 

40.7

 

2014

 

38.7

 

2015

 

37.1

 

2016

 

35.4

 

2017

 

30.0