Goodwill and Intangible Assets

3 Months Ended

Sep. 30, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

(5)

GOODWILL AND INTANGIBLE ASSETS

Goodwill

The Company has recorded goodwill of $312.8 from the acquisitions of Assurex that was completed on August 31, 2016, Sividon that was completed on May 31, 2016, the Clinic that was completed on February 27, 2015, Crescendo Bioscience, Inc. that was completed on February 28, 2014 and Rules-Based Medicine, Inc. that was completed on May 31, 2011. Of this goodwill, $247.3 relates to the Company’s diagnostic segment and $65.5 relates to the other segment. The following summarizes changes to the goodwill balance for the three months ended September 30, 2016:


	Carrying
	amount
Beginning balance July 1, 2016	$	195.3
Acquisitions (see note 2)		116.3
Adjustments to prior acquisitions (see note 2)		0.8
Translation adjustments		0.4

Ending balance September 30, 2016	$	312.8

Intangible Assets

Intangible assets primarily consist of amortizable assets of purchased licenses and technologies, customer relationships, and trade names as well as non-amortizable intangible assets of in-process technologies and research and development. The following summarizes the amounts reported as intangible assets:


	Gross
	Carrying		Accumulated
	Amount		Amortization			Net
At September 30, 2016:
Purchased licenses and technologies	$	528.1	$	(34.1	)	$	494.0
Customer relationships		4.7		(2.5	)		2.2
Trademarks		3.0		(0.7	)		2.3

Total amortized intangible assets		535.8		(37.3	)		498.5

In-process research and development		22.7		—			22.7

Total unamortized intangible assets		22.7		—			22.7

Total intangible assets	$	558.5	$	(37.3	)	$	521.2


	Gross
	Carrying		Accumulated
	Amount		Amortization			Net
At June 30, 2016:
Purchased licenses and technologies	$	228.7	$	(28.5	)	$	200.2
Customer relationships		4.7		(2.4	)		2.3
Trademarks		3.0		(0.6	)		2.4

Total amortized intangible assets		236.4		(31.5	)		204.9

In-process research and development		22.6		—			22.6

Total unamortized intangible assets		22.6		—			22.6

Total intangible assets	$	259.0	$	(31.5	)	$	227.5

The Company recorded amortization expense during the respective periods for these intangible assets as follows:


	Three months ended September 30,
	2016		2015
Amortization of intangible assets		5.5		3.2

- 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 + Details