Intangible Assets

6 Months Ended

Jun. 30, 2020

6. Intangible Assets

The carrying amount of goodwill at June 30, 2020 and December 31, 2019 allocated by domestic and foreign operations is as follows (in millions):

The changes in the carrying amount of goodwill for the six-month period ended June 30, 2020 are as follows (in millions):

	Brokerage			Risk Management			Corporate			Total
Balance as of December 31, 2019	$	5,548.9		$	66.6		$	3.0		$	5,618.5
Goodwill acquired during the period		190.5			—			—			190.5
Goodwill adjustments due to appraisals and other acquisition adjustments		27.9			1.3			—			29.2
Foreign currency translation adjustments during the period		(80.6	)		(1.0	)		(0.2	)		(81.8	)
Balance as of June 30, 2020	$	5,686.7		$	66.9		$	2.8		$	5,756.4

Major classes of amortizable intangible assets at June 30, 2020 and December 31, 2019 consist of the following (in millions):

	June 30,			December 31,
	2020			2019
Expiration lists	$	4,342.8		$	4,246.0
Accumulated amortization - expiration lists		(2,203.2	)		(2,004.3	)
		2,139.6			2,241.7
Non-compete agreements		67.0			68.4
Accumulated amortization - non-compete agreements		(54.0	)		(52.5	)
		13.0			15.9
Trade names		107.2			91.8
Accumulated amortization - trade names		(33.8	)		(30.7	)
		73.4			61.1
Net amortizable assets	$	2,226.0		$	2,318.7

Estimated aggregate amortization expense for each of the next five years and thereafter is as follows: