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Goodwill and Other Intangibles | 3 Months Ended
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Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles | Goodwill and Other Intangibles The Company is required to assess goodwill and any indefinite-lived intangible assets for impairment annually, or more frequently if circumstances indicate impairment may have occurred. The Company performs the annual impairment assessment for each of its reporting units during the third quarter of each year. In accordance with applicable accounting guidance, the Company assesses qualitative factors to determine whether it is necessary to perform the two-step goodwill impairment test. As part of its assessment, the Company considers numerous factors, including that the fair value of each reporting unit exceeds its carrying value by a substantial margin based on its most recent estimates, whether significant acquisitions or dispositions occurred which might alter the fair value of its reporting units, macroeconomic conditions and their potential impact on reporting unit fair values, actual performance compared with budget and prior projections used in its estimation of reporting unit fair values, industry and market conditions, and the year-over-year change in the Company’s share price. The Company completed its qualitative assessment in the third quarter of 2018 and concluded that a two-step goodwill impairment test was not required in 2018 and that goodwill was not impaired. Other intangible assets that are not deemed to have an indefinite life are amortized over their estimated lives and reviewed for impairment upon the occurrence of certain triggering events in accordance with applicable accounting literature. Changes in the carrying amount of goodwill are as follows:
March 31, |  |  |
(In millions) | 2019 |  |  | 2018 |
Balance as of January 1, | $ | 9,599 |  |  | $ | 9,089 |
Goodwill acquired | 97 |  |  | 15 |
Other adjustments(a) | 43 |  |  | 90 |
Balance at March 31, | $ | 9,739 |  |  | $ | 9,194 |
(a) Primarily reflects the impact of foreign exchange. The goodwill acquired of $97 million in 2019, all of which is deductible for tax purposes, related to the Risk and Insurance Services segment. Goodwill allocable to the Company’s reportable segments at March 31, 2019 is as follows: Risk and Insurance Services, $6.9 billion and Consulting, $2.8 billion. The gross cost and accumulated amortization at March 31, 2019 and December 31, 2018 are as follows:
| March 31, 2019 |  | December 31, 2018
(In millions) | Gross Cost |  |  | Accumulated Amortization |  |  | Net Carrying Amount |  |  | Gross Cost |  |  | Accumulated Amortization |  |  | Net Carrying Amount |
Client Relationships | $ | 2,046 |  |  | $ | 685 |  |  | $ | 1,361 |  |  | $ | 1,970 |  |  | $ | 639 |  |  | $ | 1,331 |
Other (a) | 267 |  |  | 164 |  |  | 103 |  |  | 259 |  |  | 153 |  |  | 106 |
Amortized intangibles | $ | 2,313 |  |  | $ | 849 |  |  | $ | 1,464 |  |  | $ | 2,229 |  |  | $ | 792 |  |  | $ | 1,437 |
(a) Primarily non-compete agreements, trade names and developed technology. Aggregate amortization expense for the three months ended March 31, 2019 and 2018 was $51 million and $45 million, respectively. The estimated future aggregate amortization expense is as follows:
For the Years Ending December 31, |
(In millions) | Estimated Expense |
2019 (excludes amortization through March 31, 2019) | $ | 151 |
2020 | 187 |
2021 | 174 |
2022 | 159 |
2023 | 156 |
Subsequent years | 637 |
| $ | 1,464 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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