BEMIS CO INC | 2013 | FY | 3

GOODWILL AND OTHER INTANGIBLE ASSETS

Changes in the carrying amount of goodwill attributable to each reportable business segment follow:
 
(in millions)
 
U.S. Packaging Segment
 
Global Packaging Segment
 
Pressure Sensitive Materials Segment
 
Total
Reported balance at December 31, 2011
 
$
636.9

 
$
359.1

 
$
52.4

 
$
1,048.4

 
 
 
 
 
 
 
 
 
Acquisition and acquisition adjustments
 
0.6

 
2.5

 
—

 
3.1

Currency translation
 
0.3

 
(17.7
)
 
0.2

 
(17.2
)
Reported balance at December 31, 2012
 
637.8

 
343.9

 
52.6

 
1,034.3

 
 
 
 
 
 
 
 
 
Acquisition and acquisition adjustments
 
—

 
47.1

 
—

 
47.1

Divestiture
 
(4.7
)
 
—

 
—

 
(4.7
)
Currency translation
 
(0.8
)
 
(23.7
)
 
—

 
(24.5
)
Reported balance at December 31, 2013
 
$
632.3

 
$
367.3

 
$
52.6

 
$
1,052.2

 

The components of amortized intangible assets follow:
 
 
December 31, 2013
 
December 31, 2012
(in millions)
 
Gross Carrying Amount
 
Accumulated Amortization
 
Gross Carrying Amount
 
Accumulated Amortization
Contract based
 
$
26.2

 
$
(14.4
)
 
$
21.0

 
$
(13.8
)
Technology based
 
82.6

 
(40.9
)
 
91.3

 
(40.8
)
Marketing related
 
23.0

 
(14.2
)
 
24.9

 
(14.4
)
Customer based
 
200.1

 
(71.8
)
 
197.1

 
(64.1
)
Reported balance
 
$
331.9

 
$
(141.3
)
 
$
334.3

 
$
(133.1
)

 
Amortization expense for intangible assets during 2013, 2012, and 2011 was $15.7 million, $18.1 million, and $18.1 million, respectively.  Estimated annual amortization expense is $15.0 million for 2014 and 2015, $14.8 million for 2016 and 2017, and $14.7 million for 2018.
 
The Company completed its annual impairment tests in the fourth quarter of 2013 with no indications of impairment of goodwill found.  The Company does not have any accumulated impairment losses.

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