AMERISOURCEBERGEN CORP | 2013 | FY | 3


Note 5. Goodwill and Other Intangible Assets

 

Following is a summary of the changes in the carrying value of goodwill for the fiscal years ended September 30, 2013 and 2012 (in thousands):

   Pharmaceutical    
   Distribution Other Total
 Goodwill at September 30, 2011 $ 2,421,707 $ 75,455 $ 2,497,162
 Goodwill recognized in connection with acquisitions (see Note 2)  (134)  444,554  444,420
 Foreign currency translation   1,402  -  1,402
 Goodwill at September 30, 2012  2,422,975  520,009  2,942,984
 Goodwill recognized in connection with acquisitions (see Note 2)  -  3,000  3,000
 Foreign currency translation   (1,014)  -  (1,014)
 Goodwill at September 30, 2013 $ 2,421,961 $ 523,009 $ 2,944,970
        

Following is a summary of other intangible assets (in thousands):

 September 30, 2013 September 30, 2012
 Gross    Net Gross    Net
 Carrying Accumulated Carrying Carrying Accumulated Carrying
 Amount  Amortization  Amount  Amount  Amortization  Amount
Indefinite-lived intangibles — trade names $ 343,892 $ - $ 343,892 $ 344,004 $ - $ 344,004
Finite-lived intangibles:                 
Customer relationships   265,810   (80,767)   185,043   265,981   (61,865)   204,116
Other   69,350   (43,542)   25,808   67,896   (35,568)   32,328
Total other intangible assets $ 679,052 $ (124,309) $ 554,743 $ 677,881 $ (97,433) $ 580,448

During the fiscal year ended September 30, 2011, the Company recorded a goodwill impairment charge of $3.0 million and a customer relationship impairment charge of $3.5 million relating to one of its smaller business units. For segment presentation, this charge was included in Other.

 

Amortization expense for other intangible assets was $27.1 million, $21.5 million, and $12.6 million in the fiscal years ended September 30, 2013, 2012, and 2011, respectively. Amortization expense for other intangible assets is estimated to be $25.6 million in fiscal 2014, $21.7 million in fiscal 2015, $20.8 million in fiscal 2016, $17.0 million in fiscal 2017, $14.8 million in 2018 and $111.0 million thereafter.


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