Intangible Assets, net

12 Months Ended

Dec. 31, 2013

Note 6. Intangible Assets, net

Intangible assets, net, consisted of the following:

	December 31, 2013					December 31, 2012

	Gross Carrying Amount		Accumulated Amortization			Gross Carrying Amount		Accumulated Amortization
	(in millions)
Intangible assets subject to amortization:
Covenants not to compete	$	8.0	$	(7.3	)	$	8.0	$	(7.1	)
Loan fees		41.5		(24.1	)		31.2		(20.2	)
Customer lists/relationships		654.3		(200.6	)		524.0		(153.3	)
Software—internal use		8.1		(6.3	)		8.1		(5.5	)
Other		7.4		(2.7	)		6.4		(2.5	)


		719.3		(241.0	)		577.7		(188.6	)
Intangible assets not subject to amortization:
Trade names		735.5		—			547.4		—


	$	1,454.8	$	(241.0	)	$	1,125.1	$	(188.6	)

Intangible assets recorded in connection with our 2013 acquisitions were approximately $345.8 million. The Company also recorded $10.3 million of intangible assets in connection with the amendment of its syndicated credit agreement. Foreign currency translation losses related to intangible assets, net, in 2013 were approximately $6.7 million. Impairment losses of $14.9 million and $2.5 million were recognized during the years ended December 31, 2013 and 2012, respectively, related to one of our trade names.

Amortization expense for intangible assets amounted to approximately $54.9 million, $45.4 million and $35.8 million for the years ended December 31, 2013, 2012 and 2011, respectively.

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

	(in millions)

2014	$	55.8
2015		53.7
2016		52.0
2017		47.5
2018		41.4