Intangible Assets

9 Months Ended

Sep. 30, 2022

6. Intangible Assets

The carrying amount of goodwill at September 30, 2022 and December 31, 2021 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, 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		267.1			16.0			—			283.1
Goodwill true-ups due to appraisals and other acquisition adjustments (see Note 3)		395.8			(1.6	)		0.2			394.4
Foreign currency translation adjustments during the period		(500.4	)		(5.0	)		(1.1	)		(506.5	)
Balance as of September 30, 2022	$	8,707.1		$	110.3		$	19.8		$	8,837.2

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


	September 30,			December 31,
	2022			2021
Expiration lists	$	6,008.7		$	6,696.8
Accumulated amortization - expiration lists		(3,022.7	)		(2,812.2	)
		2,986.0			3,884.6
Non-compete agreements		78.3			76.0
Accumulated amortization - non-compete agreements		(64.4	)		(62.8	)
		13.9			13.2
Trade names		103.3			105.2
Accumulated amortization - trade names		(50.8	)		(49.0	)
		52.5			56.2
Net amortizable assets	$	3,052.4		$	3,954.0

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