VARIAN MEDICAL SYSTEMS INC | 2013 | FY | 3


5. GOODWILL AND INTANGIBLE ASSETS

The following table reflects the gross carrying amount and accumulated amortization of the Company’s intangible assets included in “Other assets” in the Consolidated Balance Sheets:

 

(In millions)

September 27,
2013

 

 

September 28,
2012

 

Intangible Assets:

 

 

 

 

 

 

 

Acquired existing technology             

$

  36.6

  

 

$

  36.3

  

Patents, licenses and other             

 

  29.0

  

 

 

  28.1

  

Customer contracts and supplier relationship             

 

  10.9

  

 

 

  10.9

  

Accumulated amortization             

 

(53.1

) 

 

 

(48.5

) 

Net carrying amount             

$

  23.4

  

 

$

  26.8

  

Amortization expense for intangible assets was $4.3 million, $4.9 million and $2.9 million for fiscal years 2013, 2012 and 2011, respectively. The Company estimates that the amortization expense for fiscal years 2014 through 2018, and thereafter, will be as follows (in millions): $5.3, $6.0, $2.4, $1.8, $1.8, and $6.1, respectively.

The following table reflects the activity of goodwill by reportable operating segment:

 

(In millions)

Oncology
Systems

 

  

X-Ray
Products

 

  

Other

 

 

Total

 

Balance at September 30, 2011             

$

  130.5

  

  

$

  6.1

  

  

$

  75.9

  

 

$

  212.5

  

Acquisition of businesses             

 

  1.5

  

  

 

  10.9

  

  

 

-

  

 

 

  12.4

  

Foreign currency translation adjustments             

 

-

  

  

 

-

  

  

 

(2.7

) 

 

 

(2.7

) 

Balance at September 28, 2012             

 

  132.0

  

  

 

  17.0

  

  

 

  73.2

  

 

 

  222.2

  

Foreign currency translation adjustments             

 

-

  

  

 

-

  

  

 

  3.1

 

 

 

  3.1

 

Balance at September 27, 2013             

$

  132.0

  

  

$

  17.0

  

  

$

  76.3

  

 

$

  225.3

  

 


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