Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2018

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill

Goodwill represents the excess of the purchase price over the fair value of identifiable net assets acquired in a business combination. Goodwill is assigned to specific reporting units and is tested annually for impairment as of October 31, or more frequently if events or changes in circumstances indicate that it is more likely than not that the fair value of a reporting unit is below its carrying value.

No goodwill impairment charges were recorded during the years ended December 31, 2018, 2017 or 2016. The accumulated goodwill impairment losses and the carrying value of goodwill at December 31, 2018 and 2017, were as follows:



	December 31, 2018									December 31, 2017
	United States Print and Related Services			International			Total			United States Print and Related Services			International			Total
Goodwill	$	832.9		$	30.0		$	862.9		$	778.3		$	30.0		$	808.3
Accumulated goodwill impairment loss	(778.3		)	(30.0		)	(808.3		)	(778.3		)	(30.0		)	(808.3		)
Goodwill, net of accumulated goodwill impairment loss	$	54.6		$	—		$	54.6		$	—		$	—		$	—

The Company recorded goodwill within the United States Print and Related Services segment related to acquisitions completed during the year ended December 31, 2018. Activity impacting goodwill for the year ended December 31, 2018, was as follows:



	United States Print and Related Services		International		Total
Balance at January 1, 2018	$	—	$	—	$	—
Ivie acquisition (see Note 3)	28.3		—		28.3
Investment in Rise (see Note 3)	26.3		—		26.3
Balance at December 31, 2018	$	54.6	$	—	$	54.6

Other Intangible Assets

The components of other intangible assets at December 31, 2018 and 2017, were as follows:



	December 31, 2018								December 31, 2017
	Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Weighted Average Amortization Period (Years)	Gross Carrying Amount		Accumulated Amortization			Net Book Value
Finite-lived intangible assets:
Trademarks, patents, licenses and agreements	7	$	59.8	$	(22.4	)	$	37.4	7	$	24.0	$	(13.5	)	$	10.5
Capitalized software	5	15.3		(5.1		)	10.2		5	4.8		(4.3		)	0.5
Customer relationships	6	514.7		(449.7		)	65.0		6	460.8		(428.4		)	32.4
Total finite-lived intangible assets		$	589.8	$	(477.2	)	$	112.6		$	489.6	$	(446.2	)	$	43.4

During the year ended December 31, 2018, the gross carrying amount of other intangible assets increased primarily due to $102.7 million of acquired identifiable finite-lived intangible assets as discussed in Note 3, “Acquisitions and Strategic Investments.” The gross carrying amount and accumulated amortization within other intangible assets—net in the consolidated balance sheets at December 31, 2018, and December 31, 2017, differs from the value originally recorded at acquisition due to impairment charges recorded in prior years and the effects of currency fluctuations since the purchase date. Other intangible assets are evaluated for potential impairment whenever events or circumstances indicate that the carrying value may not be recoverable. There were no impairment charges recorded on finite-lived intangible assets for the years ended December 31, 2018, 2017 and 2016.

Amortization expense for other intangible assets was $34.4 million, $18.3 million and $50.7 million for the years ended December 31, 2018, 2017 and 2016, respectively. The following table outlines the estimated future amortization expense related to other intangible assets as of December 31, 2018:



	Amortization Expense
2019	$	32.5
2020	27.1
2021	18.8
2022	16.3
2023	12.1
2024 and thereafter	5.8
Total	$	112.6

- 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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