Goodwill and Intangibles. Goodwill Goodwill is tested for impairment on an annual basis and when events or changes in circumstances indicate the fair value of a reporting unit has been reduced below carrying value. The Partnership has performed its annual impairment tests, and no impairment in the carrying value of goodwill has been identified during the periods presented. In February of 2016, the Partnership’s units were trading at a price per unit significantly lower than the price per unit used to calculate the merger consideration and the resulting goodwill that was assigned to certain reporting units in the G&P segment. The significant assumptions that were used to develop the estimates of the fair values recorded in acquisition accounting and the resulting goodwill assigned to the reporting units are discussed in Note 4. If negative events related to those assumptions occur or if the market price of the units continues to trade at a low level in 2016, the Partnership may need to assess whether this is a change in circumstances that indicates it is more likely than not that the fair value of the reporting units to which the goodwill was assigned in connection with the MarkWest Merger is less than their carrying value and, if so, evaluate goodwill for impairment. There were no changes in the carrying amount of goodwill for 2014. The changes in carrying amount of goodwill for 2015 were as follows: (In millions) L&S G&P Total Beginning balance $ 116 $ — $ 116 Acquisitions(1) — 2,454 2,454 Ending balance $ 116 $ 2,454 $ 2,570 (1) On December 4, 2015, the Partnership completed the MarkWest Merger, see Note 4 for more information. Intangible Assets There were no intangible assets as of December 31, 2014. The Partnership’s intangible assets as of December 31, 2015 are comprised of customer contracts and relationships, as follows: (In millions) Gross Accumulated Amortization Net Useful Life L&S $ — $ — $ — N/A G&P 468 (2 ) 466 11-25 years $ 468 $ (2 ) $ 466 Estimated future amortization expense related to the intangible assets at December 31, 2015 is as follows: (In millions) 2016 32 2017 32 2018 32 2019 32 2020 32 Thereafter 306 Total $ 466 18. Supplemental Cash Flow Information (In millions) 2015 2014 2013 Net cash provided by operating activities included: Interest paid (net of amounts capitalized) $ 13 $ 3 $ — Non-cash investing and financing activities: Net transfers of property, plant and equipment to inventories $ 5 $ 1 $ 4 Contribution - common units issued — 200 — Acquisition...
Goodwill and Intangibles. An amount equal to Six Hundred Eighty-Five Million and No/100 Dollars ($685,000,000.00) for Sellers’ Goodwill and Intangibles. Such amount is allocated among the Respective Businesses as set forth on Schedule 1.4(a)(vii).
Goodwill and Intangibles. Goodwill The Partnership annually evaluates goodwill for impairment as of November 30, as well as whenever events or changes in circumstances indicate it is more likely than not that the fair value of a reporting unit with goodwill is less than its carrying amount. The Partnership has performed its annual impairment tests, and no additional impairments in the carrying value of goodwill were identified in the periods presented. During the first quarter of 2016, the Partnership determined that an interim impairment analysis of the goodwill recorded in connection with the MarkWest Merger was necessary based on consideration of a number of first quarter events and circumstances, including i) continued deterioration of near term commodity prices as well as longer term pricing trends, ii) recent guidance on reductions to forecasted capital spending, the slowing of drilling activity and the resulting reduced production growth forecasts released or communicated by the Partnership’s producer customers and iii) increases in cost of capital. The combination of these factors was considered to be a triggering event requiring an interim impairment test. Based on the first step of the interim goodwill impairment analysis, the fair value for the three reporting units to which goodwill was assigned in connection with the MarkWest Merger was less than the respective carrying value. In step two of the impairment analysis, the implied fair values of the goodwill were compared to the carrying values within those reporting units. Based on this assessment, it was determined that goodwill was impaired in two of the three reporting units. Accordingly, the Partnership recorded an impairment charge of approximately $129 million in the first quarter of 2016. In the second quarter of 2016, the Partnership completed its purchase price allocation, which resulted in an additional $1 million of impairment expense that would have been recorded in the first quarter of 2016 had the purchase price allocation been completed as of that date. This adjustment to the impairment expense was the result of completing an evaluation of the deferred tax liabilities associated with the MarkWest Merger and their impact on the resulting goodwill that was recognized. The fair value of the reporting units for the interim goodwill impairment analysis was determined based on applying the discounted cash flow method, which is an income approach, and the guideline public company method, which is a market approac...
Goodwill and Intangibles. The adjustment to goodwill and intangible assets represents the amounts recognized from the preliminary purchase price allocation. The intangible assets are comprised of customer contracts and trade names with useful lives of 10 and 20 years, respectively. See Note 3 for the estimated preliminary purchase price allocation.
Goodwill and Intangibles. Goodwill GetGo accounts for goodwill in accordance with the authoritative guidance, which requires that goodwill and certain intangible assets are not amortized, but are subject to an annual impairment test. There was no impairment of goodwill or indefinite lived intangible assets as a result of the annual impairment test analysis completed during the fourth quarter of 2015. There were no indicators of impairment during the nine months ended September 30, 2016. Changes in goodwill during the nine months ended September 30, 2016 are as follows (in thousands): Balance at January 1, 2016 Additions Other Balance at September 30, 2016 Goodwill $ 367,782 $ — $ 2,217 (1) $ 369,999
Goodwill and Intangibles. The adjustments to goodwill and intangible assets represent the amounts recognized from the preliminary purchase price allocation. The intangible assets consist of customer relationship intangibles of $117.8 million with an estimated useful life of 13 years, customer contract intangibles of $71.3 million with an estimated useful life of 9 years and software of $11.0 million with an estimated useful life of 6 years. See Note 3 for the estimated preliminary purchase price allocation.
