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Intangible Assets | 6 Months Ended
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Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 5. Intangible Assets The carrying amount of goodwill at June 30, 2023 and December 31, 2022 allocated by domestic and foreign operations is as follows (in millions):
|  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
At June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 5,705.7 |  |  | $ | 74.8 |  |  | $ | — |  |  | $ | 5,780.5 |
United Kingdom |  |  | 2,387.9 |  |  |  | 18.5 |  |  |  | — |  |  |  | 2,406.4 |
Canada |  |  | 592.8 |  |  |  | — |  |  |  | — |  |  |  | 592.8 |
Australia |  |  | 499.2 |  |  |  | 10.3 |  |  |  | — |  |  |  | 509.5 |
New Zealand |  |  | 199.5 |  |  |  | 9.4 |  |  |  | — |  |  |  | 208.9 |
Other foreign |  |  | 996.3 |  |  |  | — |  |  |  | 19.3 |  |  |  | 1,015.6 |
Total goodwill |  | $ | 10,381.4 |  |  | $ | 113.0 |  |  | $ | 19.3 |  |  | $ | 10,513.7 |
At December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 5,065.7 |  |  | $ | 74.8 |  |  | $ | — |  |  | $ | 5,140.5 |
United Kingdom |  |  | 2,180.2 |  |  |  | 17.7 |  |  |  | — |  |  |  | 2,197.9 |
Canada |  |  | 569.7 |  |  |  | — |  |  |  | — |  |  |  | 569.7 |
Australia |  |  | 467.6 |  |  |  | 10.2 |  |  |  | — |  |  |  | 477.8 |
New Zealand |  |  | 203.8 |  |  |  | 9.5 |  |  |  | — |  |  |  | 213.3 |
Other foreign |  |  | 871.1 |  |  |  | — |  |  |  | 19.1 |  |  |  | 890.2 |
Total goodwill |  | $ | 9,358.1 |  |  | $ | 112.2 |  |  | $ | 19.1 |  |  | $ | 9,489.4 |
The changes in the carrying amount of goodwill for the six-month period ended June 30, 2023 are as follows (in millions):
|  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
Balance as of December 31, 2022 |  | $ | 9,358.1 |  |  | $ | 112.2 |  |  | $ | 19.1 |  |  | $ | 9,489.4 |
Goodwill acquired during the period |  |  | 858.7 |  |  |  | — |  |  |  | — |  |  |  | 858.7 |
Goodwill true-ups due to appraisals and other acquisition adjustments (see Note 3) |  |  | 10.1 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 10.0 |
Foreign currency translation adjustments during the period |  |  | 154.5 |  |  |  | 0.9 |  |  |  | 0.2 |  |  |  | 155.6 |
Balance as of June 30, 2023 |  | $ | 10,381.4 |  |  | $ | 113.0 |  |  | $ | 19.3 |  |  | $ | 10,513.7 |
Major classes of amortizable intangible assets at June 30, 2023 and December 31, 2022 consist of the following (in millions):
|  | June 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Expiration lists |  | $ | 7,097.8 |  |  | $ | 6,472.3 |
Accumulated amortization - expiration lists |  |  | (3,458.7 | ) |  |  | (3,178.5 | )
|  |  | 3,639.1 |  |  |  | 3,293.8 |
Non-compete agreements |  |  | 100.2 |  |  |  | 91.3 |
Accumulated amortization - non-compete agreements |  |  | (72.1 | ) |  |  | (67.5 | )
|  |  | 28.1 |  |  |  | 23.8 |
Trade names |  |  | 113.1 |  |  |  | 108.5 |
Accumulated amortization - trade names |  |  | (59.9 | ) |  |  | (54.0 | )
|  |  | 53.2 |  |  |  | 54.5 |
Net amortizable assets |  | $ | 3,720.4 |  |  | $ | 3,372.1 |
Estimated aggregate amortization expense for each of the next five years and thereafter is as follows (in millions):
2023 (remaining six months) |  | $ | 265.2 |
2024 |  |  | 499.8 |
2025 |  |  | 457.2 |
2026 |  |  | 415.9 |
2027 |  |  | 385.1 |
Thereafter |  |  | 1,697.2 |
Total |  | $ | 3,720.4 |

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