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Goodwill and Other Intangible Assets | 12 Months Ended
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Dec. 31, 2015
Goodwill and Other Intangible Assets |
Goodwill and Other Intangible Assets | Note 10—Goodwill and Other Intangible Assets The changes in the carrying amount of Goodwill, net for the years ended December 31, 2015 and 2014 were as follows:
(in millions) |  | Construction Materials |  | Interconnect Technologies |  | Fluid Technologies |  | Brake and Friction |  | FoodService Products |  | Total |
Net balance at January 1, 2014 |  | $ | 129.1 |  | $ | 442.6 |  | $ | — |  | $ | 226.7 |  | $ | 60.3 |  | $ | 858.7 |
Goodwill acquired during year(1) |  |  | — |  |  | 111.7 |  |  | — |  |  | — |  |  | — |  |  | 111.7 |
Currency translation |  |  | (5.8 | ) |  | — |  |  | — |  |  | (0.1 | ) |  | — |  |  | (5.9 | )
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Net balance at December 31, 2014 |  | $ | 123.3 |  | $ | 554.3 |  | $ | — |  | $ | 226.6 |  | $ | 60.3 |  | $ | 964.5 |
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Goodwill acquired during year(1) |  |  | — |  |  | — |  |  | 175.7 |  |  | — |  |  | — |  |  | 175.7 |
Measurement period adjustments |  |  | — |  |  | 1.1 |  |  | (0.5 | ) |  | — |  |  | — |  |  | 0.6 |
Currency translation |  |  | (4.6 | ) |  | — |  |  | (1.8 | ) |  | — |  |  | — |  |  | (6.4 | )
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Net balance at December 31, 2015 |  | $ | 118.7 |  | $ | 555.4 |  | $ | 173.4 |  | $ | 226.6 |  | $ | 60.3 |  | $ | 1,134.4 |
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(1) | See Note 3 for further information on goodwill resulting from recent acquisitions.
On April 1, 2015, the Company acquired 100% of the Finishing Brands business from Graco for a total purchase price of $611.1 million, gross and $598.9 million, net of cash acquired. The resulting goodwill recorded of $175.2 million, after preliminary measurement period adjustments, was allocated to the CFT reporting unit which aligns with the reportable segment. On October 1, 2014, the Company acquired LHi for a total purchase price of $200.7 million, gross and $194.0 million, net of cash acquired. The resulting goodwill recorded of $112.8 million, after measurement period adjustments, was allocated to the Interconnect Technologies reporting unit. The Company's Other intangible assets, net at December 31, 2015, are as follows:
(in millions) |  | Acquired Cost |  | Accumulated Amortization |  | Net Book Value |
Assets subject to amortization: |  |  |  |  |  |  |  |  |  |
Intellectual property |  | $ | 180.7 |  | $ | (55.0 | ) | $ | 125.7 |
Customer relationships |  |  | 673.9 |  |  | (160.5 | ) |  | 513.4 |
Other |  |  | 13.5 |  |  | (10.6 | ) |  | 2.9 |
Assets not subject to amortization: |  |  |  |  |  |  |  |  |  |
Trade names |  |  | 245.8 |  |  | — |  |  | 245.8 |
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Other intangible assets, net |  | $ | 1,113.9 |  | $ | (226.1 | ) | $ | 887.8 |
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The Company's Other intangible assets, net at December 31, 2014, are as follows:
(in millions) |  | Acquired Cost |  | Accumulated Amortization |  | Net Book Value |
Assets subject to amortization: |  |  |  |  |  |  |  |  |  |
Intellectual property |  | $ | 146.6 |  | $ | (37.8 | ) | $ | 108.8 |
Customer relationships |  |  | 494.6 |  |  | (122.3 | ) |  | 372.3 |
Other |  |  | 20.6 |  |  | (12.1 | ) |  | 8.5 |
Assets not subject to amortization: |  |  |  |  |  |  |  |  |  |
Trade names |  |  | 122.1 |  |  | — |  |  | 122.1 |
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Other intangible assets, net |  | $ | 783.9 |  | $ | (172.2 | ) | $ | 611.7 |
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Estimated amortization expense over the next five years is as follows: $58.5 million in 2016, $57.7 million in 2017, $57.7 million in 2018, $57.6 million in 2019, and $54.4 million in 2020. The net carrying values of the Company's Other intangible assets, net by reportable segment as of December 31 were as follows:
(in millions) |  | 2015 |  | 2014 |
Carlisle Construction Materials |  | $ | 60.9 |  | $ | 72.3 |
Carlisle Interconnect Technologies |  |  | 357.3 |  |  | 386.6 |
Carlisle Fluid Technologies |  |  | 325.3 |  |  | — |
Carlisle Brake & Friction |  |  | 117.2 |  |  | 123.5 |
Carlisle FoodService Products |  |  | 27.1 |  |  | 29.3 |
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Total |  | $ | 887.8 |  | $ | 611.7 |
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Acquired patents and intellectual property will be amortized over a weighted-average period of 8.6 years. The acquired cost of the Company's customer relationship intangible assets by estimated useful life is as follows (in millions):
|  | Gross Balance as of December 31, |
Estimated Useful Life (Years) |  | 2015 |  | 2014 |
5 - 9 |  | $ | 25.5 |  | $ | 27.1 |
10 - 14 |  | $ | 72.3 |  | $ | 72.3 |
15 - 19 |  | $ | 468.4 |  | $ | 287.5 |
20 - 24 |  | $ | 107.7 |  | $ | 107.7 |
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Total |  | $ | 673.9 |  | $ | 494.6 |
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See Note 1 in these Notes to Consolidated Financial Statements for information regarding the valuation of goodwill and indefinite-lived intangible assets.

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- Definition The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss. + 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=26713463&loc=d3e16373-109275 Reference 2: 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=26713463&loc=d3e16265-109275 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=26713463&loc=d3e16323-109275 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13816-109267 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=35741047&loc=d3e13854-109267 + Details
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