Goodwill and Other Intangibles Assets

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

The following table summarizes the carrying amount of goodwill, and the changes in the carrying amount of goodwill in the nine months ended September 30, 2017, by segment:



(in millions)	Environmental Solutions		Safety & Security Systems		Total
Balance at January 1, 2017	$	127.2	$	109.3	$	236.5
Translation adjustments	0.4		3.8		4.2
Acquisitions	130.7		—		130.7
Balance at September 30, 2017	$	258.3	$	113.1	$	371.4

The following table summarizes the gross carrying amount and accumulated amortization of intangible assets for each major class of intangible assets:



	September 30, 2017							December 31, 2016
(in millions)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Gross Carrying Value		Accumulated Amortization			Net Carrying Value
Definite-lived intangible assets:
Customer relationships^(a)	$	90.9	$	(2.7	)	$	88.2	$	0.8	$	(0.1	)	$	0.7
Other^(a)	4.3		(0.9		)	3.4		1.1		(0.4		)	0.7
Total definite-lived intangible assets	95.2		(3.6		)	91.6		1.9		(0.5		)	1.4
Indefinite-lived intangible assets:
Trade names	69.5		—			69.5		8.8		—			8.8
Total indefinite-lived intangible assets	69.5		—			69.5		8.8		—			8.8
Total intangible assets	$	164.7	$	(3.6	)	$	161.1	$	10.7	$	(0.5	)	$	10.2


(a)	Average useful life of customer relationships and other definite-lived intangible assets are estimated to be approximately 12 years and 5 years, respectively. The average useful life across all definite-lived intangible assets is estimated to be approximately 12 years.

The table above includes preliminary estimates of the fair value and useful lives of certain definite and indefinite-lived intangible assets related to the TBEI acquisition completed during 2017. As further described in Note 2 – Acquisitions, the preliminary measurements of fair value included in the table above are subject to change during the measurement period as valuations are finalized.

Amortization expense for the three and nine months ended September 30, 2017 was $2.2 million and $3.0 million, respectively. Amortization expense for the three and nine months ended September 30, 2016 was immaterial.

The Company currently estimates that aggregate amortization expense will be approximately $2.2 million for the remainder of 2017, $8.7 million in 2018, $8.7 million in 2019, $8.1 million in 2020, $7.7 million in 2021, and $56.2 million thereafter. Actual amounts of amortization may differ from estimated amounts due to additional intangible asset acquisitions, changes in foreign currency rates, measurement period adjustments for the TBEI acquisition, impairment of intangible assets and other events.

- 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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