Intangible Assets, net

12 Months Ended

Dec. 31, 2012

Note 6. Intangible Assets, net

Intangible assets, net, consisted of the following:

	December 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	$	8.0	$	(7.1	)	$	7.3	$	(6.9	)
Loan fees		31.2		(20.2	)		31.2		(17.6	)
Customer lists/relationships		524.0		(153.3	)		477.7		(114.2	)
Software—internal use		8.1		(5.5	)		8.1		(4.7	)
Other		6.4		(2.5	)		6.6		(2.2	)

		577.7		(188.6	)		530.9		(145.6	)
Intangible assets not subject to amortization:
Trade names		547.4		—			510.6		—

	$	1,125.1	$	(188.6	)	$	1,041.5	$	(145.6	)

Intangible assets recorded in connection with our 2012 acquisitions were approximately $83.0 million (see Note 2). Foreign currency translation losses related to intangible assets, net, in 2012 were approximately $3.1 million. An impairment loss of $2.5 million was recognized in 2012 related to one of our trade names and is included in amortization expense.

Amortization expense for intangible assets amounted to approximately $45.4 million, $35.8 million and $29.6 million for the years ended December 31, 2012, 2011 and 2010, respectively.

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

	(in millions)

2013	$	45.1
2014		43.1
2015		41.5
2016		39.8
2017		34.4

- Definition

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

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