Annual report pursuant to Section 13 and 15(d)

ACQUISITIONS AND INVESTMENTS (Tables)

v2.4.1.9
ACQUISITIONS AND INVESTMENTS (Tables)
 12 Months Ended
Dec. 31, 2014
Business Combinations [Abstract]  
Estimated Fair Value of Net Assets Acquired and Liabilities Assumed at Acquisition Dates
The following table summarizes the estimated fair value of the net assets acquired and the liabilities assumed at the acquisition dates.
 
 
December 31,
 
2014
 
2013
 
(In millions)
Current assets
$
39.1

 
$
12.9

Property and equipment
3.6

 
1.4

Other assets
—

 
5.9

Identifiable intangible assets (1)
118.1

 
46.4

Goodwill (2)
240.7

 
55.3

Total assets acquired
401.5

 
121.9

Total liabilities assumed
(62.7
)
 
(19.9
)
Non-controlling interest
—

 
(3.2
)
Net assets acquired
$
338.8

 
$
98.8

 
(1)
Identifiable intangible assets are further disaggregated in the following table.

(2)
Of the goodwill resulting from 2014 and 2013 acquisitions, $0 million and $1.2 million, respectively, is tax deductible.
Acquired Intangible Assets Fair Value and Weighted-Average Useful Life
The primary reasons the purchase price of these acquisitions exceeded the fair value of the net assets acquired, which resulted in the recognition of goodwill, were expanded growth opportunities from new or enhanced product offerings and geographies, cost savings from the elimination of duplicative activities, and the acquisition of an assembled workforce that are not recognized as assets apart from goodwill.
 
 
December 31,
 
 
2014
 
2013
Intangible asset category
 
Fair value
 
Weighted-average useful life
 
Fair value
 
Weighted-average useful life
 
 
(In millions)
 
(In years)
 
(In millions)
 
(In years)
Customer relationships
 
$
72.1

 
9.7
 
$
27.6

 
8.3
Acquired software and technology
 
21.7

 
4.6
 
4.2

 
4.3
Purchased data files
 
—

 
0
 
8.4

 
5.0
Non-compete agreements
 
12.8

 
2.4
 
3.1

 
4.0
Trade names and other intangible assets
 
11.5

 
9.7
 
3.1

 
6.3
Total acquired intangibles
 
$
118.1

 
8.0
 
$
46.4

 
6.9