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Intangible Assets

6 Months Ended

Jun. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

6. Intangible Assets

The carrying amount of goodwill at June 30, 2022 and December 31, 2021 allocated by domestic and foreign operations is as follows (in millions):

		Brokerage				Risk Management				Corporate				Total
At June 30, 2022
United States		$	4,917.6			$	64.8			$	—			$	4,982.4
United Kingdom			1,978.1				19.5				—				1,997.6
Canada			592.2				—				—				592.2
Australia			456.6				10.5				—				467.1
New Zealand			203.5				9.5				—				213.0
Other foreign			763.8				—				20.3				784.1
Total goodwill		$	8,911.8			$	104.3			$	20.3			$	9,036.4
At December 31, 2021
United States		$	4,409.1			$	64.8			$	—			$	4,473.9
United Kingdom			2,198.7				15.0				—				2,213.7
Canada			572.9				—				—				572.9
Australia			487.2				10.9				—				498.1
New Zealand			217.6				10.2				—				227.8
Other foreign			659.1				—				20.7				679.8
Total goodwill		$	8,544.6			$	100.9			$	20.7			$	8,666.2

The changes in the carrying amount of goodwill for the six-month period ended June 30, 2022 are as follows (in millions):

		Brokerage				Risk Management				Corporate				Total
Balance as of December 31, 2021		$	8,544.6			$	100.9			$	20.7			$	8,666.2
Goodwill acquired during the period			207.6				6.0				—				213.6
Goodwill true-ups due to appraisals and other acquisition    adjustments (see Note 3)			407.8				—				0.2				408.0
Foreign currency translation adjustments during the period			(248.2	)			(2.6	)			(0.6	)			(251.4	)
Balance as of June 30, 2022		$	8,911.8			$	104.3			$	20.3			$	9,036.4

Major classes of amortizable intangible assets at June 30, 2022 and December 31, 2021 consist of the following (in millions):

		June 30,				December 31,
		2022				2021
Expiration lists		$	6,091.6			$	6,696.8
Accumulated amortization - expiration lists			(2,973.4	)			(2,812.2	)
			3,118.2				3,884.6
Non-compete agreements			83.0				76.0
Accumulated amortization - non-compete agreements			(64.4	)			(62.8	)
			18.6				13.2
Trade names			104.9				105.2
Accumulated amortization - trade names			(50.8	)			(49.0	)
			54.1				56.2
Net amortizable assets		$	3,190.9			$	3,954.0

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

2022 (remaining six months)		$	223.9
2023			429.3
2024			392.4
2025			350.5
2026			312.1
Thereafter			1,482.7
Total		$	3,190.9

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- References

No definition available.

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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 https://asc.fasb.org/topic&trid=2144416

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