Intangible Assets |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Intangible Assets | Intangible Assets Indefinite-lived intangible assets are tested and reviewed annually for impairment during the fourth quarter or whenever there is a significant change in events or circumstances that indicate that the fair value of the asset may be less than the carrying amount of the asset. All other intangible assets with finite useful lives are being amortized on a straight-line basis over their estimated useful lives. The following table sets forth the gross amount and accumulated amortization of the Company's intangible assets at June 30, 2015 and December 31, 2014:
As of June 30, 2015, the Company had recorded intangible assets of $182.6 million, which includes amounts associated with loan acquisition costs. These expenditures represent the cost of obtaining financings that are capitalized in the balance sheet and amortized over the term of the loans to which such costs relate. On June 4, 2015, the Company announced a new corporate brand and identity initiative to better reflect the Company's purpose and its impact on the world. As part of the initiative, the Company changed its legal name from Polymer Group, Inc. to AVINTIV Specialty Materials Inc. As a result, the Company determined that the $1.6 million indefinite-lived intangible asset related to the Polymer Group, Inc. tradename was no longer considered indefinite and therefore, classified as finite-lived during the second quarter. The tradename will be fully amortized by December 31, 2015, the estimated remaining economic life. In addition, as a result of the acquisition of Dounor, the Company allocated a portion of the purchase price to finite-lived intangible assets for patents and customer relationships. Refer to Note 4, "Acquisitions" for further information on the acquisition of Dounor. The following table presents amortization of the Company's intangible assets for the following periods:
Estimated amortization expense on existing intangible assets for each of the next five years is expected to approximate $18 million in 2015, $18 million in 2016, $18 million in 2017, $18 million in 2018 and $18 million in 2019. |
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