Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

The carrying amount of goodwill at September 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 nine-month period ended September 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		200.7			—		—			200.7
Goodwill adjustments due to appraisals and other acquisition adjustments		29.2			1.3		—			30.5
Foreign currency translation adjustments during the period		(17.4	)		—		(0.1	)		(17.5	)
Balance as of September 30, 2020	$	5,761.4		$	67.9	$	2.9		$	5,832.2

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

	September 30,			December 31,
	2020			2019
Expiration lists	$	4,434.7		$	4,246.0
Accumulated amortization - expiration lists		(2,310.2	)		(2,004.3	)
		2,124.5			2,241.7
Non-compete agreements		66.6			68.4
Accumulated amortization - non-compete agreements		(55.5	)		(52.5	)
		11.1			15.9
Trade names		98.9			91.8
Accumulated amortization - trade names		(39.5	)		(30.7	)
		59.4			61.1
Net amortizable assets	$	2,195.0		$	2,318.7

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