Brunswick Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Goodwill and Other Intangibles

Goodwill and Other Intangibles

12 Months Ended

Dec. 31, 2015

Goodwill and Intangible Assets Disclosure [Abstract]

A summary of changes in the Company's goodwill during the period ended December 31, 2015, by segment, follows:



(in millions)	December 31, 2014		Acquisitions		Impairments		Adjustments			December 31, 2015
Marine Engine	$	28.0	$	—	$	—	$	(1.8	)	$	26.2
Fitness	268.9		3.5		—		0.1			272.5
Total	$	296.9	$	3.5	$	—	$	(1.7	)	$	298.7

A summary of changes in the Company's goodwill during the period ended December 31, 2014, by segment, follows:



(in millions)	December 31, 2013		Acquisitions		Impairments		Adjustments			December 31, 2014
Marine Engine	$	20.8	$	8.8	$	—	$	(1.6	)	$	28.0
Fitness	270.9		—		—		(2.0		)	268.9
Total	$	291.7	$	8.8	$	—	$	(3.6	)	$	296.9

Adjustments in 2015 and 2014 relate to the effect of foreign currency translation on goodwill denominated in currencies other than the U.S. dollar. See Note 4 – Acquisitions for further details on the Company's acquisitions.

The Company's intangible assets, included within Other intangibles, net on the Consolidated Balance Sheets as of December 31, 2015 and 2014, are summarized below:



	December 31, 2015					December 31, 2014
(in millions)	Gross Amount		Accumulated Amortization			Gross Amount		Accumulated Amortization
Intangible assets:
Customer relationships	$	240.4	$	(225.9	)	$	234.8	$	(223.5	)
Trade names	37.7		—			31.5		—
Other	16.3		(13.4		)	15.7		(13.0		)
Total	$	294.4	$	(239.3	)	$	282.0	$	(236.5	)

Other amortized intangible assets include patents, non-compete agreements and other intangible assets. See Note 4 – Acquisitions for further details on intangibles acquired during 2015 and 2014. Gross amounts and related accumulated amortization amounts include adjustments related to the impact of foreign currency translation. Aggregate amortization expense for intangibles was $3.0 million, $2.9 million and $2.7 million for the years ended December 31, 2015, 2014 and 2013, respectively. Estimated amortization expense for intangible assets is approximately $3 million for the year ending December 31, 2016, approximately $3 million in 2017, approximately $3 million in 2018, approximately $2 million in 2019, and approximately $2 million in 2020.

- 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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