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Goodwill
9 Months Ended
Sep. 30, 2015
Goodwill  
Goodwill

 

9.Goodwill

 

($ in millions)

 

Metal
Beverage
Packaging,
Americas &
Asia

 

Metal
Beverage
Packaging,
Europe

 

Metal Food &
Household
Products
Packaging

 

Aerospace &
Technologies

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at December 31, 2014

 

$

739.5

 

$

913.9

 

$

592.5

 

$

8.6

 

$

2,254.5

 

Business acquisition

 

 

 

35.5

 

 

35.5

 

Effects of currency exchange rates

 

 

(73.6

)

(12.3

)

 

(85.9

)

 

 

 

 

 

 

 

 

 

 

 

 

Balance at September 30, 2015

 

$

739.5

 

$

840.3

 

$

615.7

 

$

8.6

 

$

2,204.1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The company’s annual goodwill impairment test completed in the fourth quarter of 2014 indicated the estimated fair value of the metal beverage packaging, Asia, reporting unit exceeded its carrying amount, including goodwill, by approximately 20 percent and no triggering events have occurred during the nine months ended September 30, 2015, that would require an interim impairment test of the goodwill associated with this reporting unit. We continue to see the supply of metal beverage packaging exceed demand in China, resulting in pricing pressure and negative impacts on the profitability of our metal beverage packaging, Asia, reporting unit.  If it becomes an expectation that this situation will continue for an extended period of time, it may result in a noncash impairment of some or all of the goodwill associated with this reporting unit, totaling $78.3 million at September 30, 2015.