GOODWILL AND OTHER INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2014

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 3 GOODWILL AND OTHER INTANGIBLE ASSETS

The changes in the carrying amount of goodwill for the year ended December 31, 2014 are as follows by reporting segment:



	Beauty + Home			Pharma			Food + Beverage			Corporate & Other			Total

Goodwill	$	179,890		$	153,978		$	17,684		$	1,615		$	353,167
Accumulated impairment losses		—			—			—			(1,615	)		(1,615	)

Balance as of December 31, 2012	$	179,890		$	153,978		$	17,684		$	—		$	351,552

Foreign currency exchange effects		1,112			5,971			230			—			7,313

Goodwill	$	181,002		$	159,949		$	17,914		$	1,615		$	360,480
Accumulated impairment losses		—			—			—			(1,615	)		(1,615	)

Balance as of December 31, 2013	$	181,002		$	159,949		$	17,914		$	—		$	358,865

Foreign currency exchange effects		(9,853	)		(18,357	)		(914	)		—			(29,124	)

Goodwill	$	171,149		$	141,592		$	17,000		$	1,615		$	331,356
Accumulated impairment losses		—			—			—			(1,615	)		(1,615	)

Balance as of December 31, 2014	$	171,149		$	141,592		$	17,000		$	—		$	329,741

The Company has also completed the annual impairment analysis of its reporting units as of December 31, 2014 using a qualitative analysis of goodwill commonly referred to as the "step zero" approach. Based on our review of macroeconomic, industry, and market events and circumstances as well as the overall financial performance of the reporting units, we determined it was more likely than not that the fair value of goodwill attributed to all four of our reporting units was greater than its carrying amount. Therefore, no impairment of goodwill has been recorded.

The table below shows a summary of intangible assets for the years ended December 31, 2014 and 2013.



		2014							2013
Weighted Average Amortization Period (Years)		Gross Carrying Amount		Accumulated Amortization			Net Value		Gross Carrying Amount		Accumulated Amortization			Net Value

Amortization intangible assets:
Patents	7	$	17,001	$	(16,852	)	$	149	$	20,165	$	(19,732	)	$	433
Acquired Technology	15		35,701		(5,950	)		29,751		40,546		(4,055	)		36,491
License agreements and other	5		32,804		(22,659	)		10,145		35,259		(22,232	)		13,027

Total intangible assets	10	$	85,506	$	(45,461	)	$	40,045	$	95,970	$	(46,019	)	$	49,951

Aggregate amortization expense for the intangible assets above for the years ended December 31, 2014, 2013 and 2012 was $5,325, $5,033 and $3,177, respectively.

Estimated amortization expense for the years ending December 31 is as follows:

2015	$	4,467
2016		3,887
2017		3,431
2018		3,432
2019 and thereafter		24,828

Future amortization expense may fluctuate depending on changes in foreign currency rates. The estimates for amortization expense noted above are based upon foreign exchange rates as of December 31, 2014.

- 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.

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