Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

The changes in the carrying amount of goodwill by business segment are presented in the table below:



(in Millions)	FMC Agricultural Solutions		FMC Health and Nutrition		FMC Lithium		Total
Balance, December 31, 2015	$	479.5	$	296.6	$	—	$	776.1
Acquisitions	—		—		—		—
Purchase price allocation adjustments (See Note 3)	20.4		—		—		20.4
Foreign currency adjustments	—		4.2		—		4.2
Balance, March 31, 2016	$	499.9	$	300.8	$	—	$	800.7

There were no events or circumstances indicating that goodwill might be impaired as of March 31, 2016.

Our intangible assets, other than goodwill, consist of the following:



	March 31, 2016							December 31, 2015
(in Millions)	Gross		Accumulated Amortization			Net		Gross		Accumulated Amortization			Net
Intangible assets subject to amortization (finite-lived)
Customer relationships	$	454.9	$	(46.6	)	$	408.3	$	435.5	$	(40.8	)	$	394.7
Patents	2.2		(0.3		)	1.9		2.2		(0.3		)	1.9
Brands ⁽¹⁾	15.6		(3.6		)	12.0		14.2		(2.7		)	11.5
Purchased and licensed technologies	71.5		(30.8		)	40.7		71.0		(29.5		)	41.5
Other intangibles	3.5		(2.2		)	1.3		3.5		(2.2		)	1.3
	$	547.7	$	(83.5	)	$	464.2	$	526.4	$	(75.5	)	$	450.9



Intangible assets not subject to amortization (indefinite life)
Brands ⁽¹⁾	$	404.1				$	404.1	$	384.7				$	384.7
In-process research & development	1.5					1.5		1.4					1.4
	$	405.6				$	405.6	$	386.1				$	386.1
Total intangible assets	$	953.3	$	(83.5	)	$	869.8	$	912.5	$	(75.5	)	$	837.0


(1)	Represents trademarks, trade names and know-how.

At March 31, 2016, the finite-lived and indefinite life intangibles were allocated among our business segments as follows:



(in Millions)	Finite-lived		Indefinite Life
FMC Agricultural Solutions	$	394.4	$	390.1
FMC Health and Nutrition	68.7		15.5
FMC Lithium	1.1		—
Total	$	464.2	$	405.6



	Three Months Ended March 31
(in Millions)	2016		2015
Amortization expense	$	7.1	$	2.6

The estimated pre-tax amortization expense for fiscal year 2016 is $31 million and is estimated to be $30 million for each fiscal year from 2017 to 2020. The estimated pre-tax amortization expense may fluctuate due to changes in foreign currency.

- 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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