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Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 5. Intangible Assets The carrying amount of goodwill at September 30, 2023 and December 31, 2022 allocated by domestic and foreign operations is as follows (in millions):
|  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
At September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 5,748.3 |  |  | $ | 74.8 |  |  | $ | — |  |  | $ | 5,823.1 |
United Kingdom |  |  | 2,322.8 |  |  |  | 17.9 |  |  |  | — |  |  |  | 2,340.7 |
Canada |  |  | 591.1 |  |  |  | — |  |  |  | — |  |  |  | 591.1 |
Australia |  |  | 479.5 |  |  |  | 9.8 |  |  |  | — |  |  |  | 489.3 |
New Zealand |  |  | 191.5 |  |  |  | 9.0 |  |  |  | — |  |  |  | 200.5 |
Other foreign |  |  | 1,005.7 |  |  |  | — |  |  |  | 19.0 |  |  |  | 1,024.7 |
Total goodwill |  | $ | 10,338.9 |  |  | $ | 111.5 |  |  | $ | 19.0 |  |  | $ | 10,469.4 |
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 nine-month period ended September 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 |  |  | 957.9 |  |  |  | — |  |  |  | — |  |  |  | 957.9 |
Goodwill true-ups due to appraisals and other acquisition adjustments (see Note 3) |  |  | 9.9 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 9.8 |
Foreign currency translation adjustments during the period |  |  | 13.0 |  |  |  | (0.6 | ) |  |  | (0.1 | ) |  |  | 12.3 |
Balance as of September 30, 2023 |  | $ | 10,338.9 |  |  | $ | 111.5 |  |  | $ | 19.0 |  |  | $ | 10,469.4 |
Major classes of amortizable intangible assets at September 30, 2023 and December 31, 2022 consist of the following (in millions):
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Expiration lists |  | $ | 7,052.3 |  |  | $ | 6,472.3 |
Accumulated amortization - expiration lists |  |  | (3,543.9 | ) |  |  | (3,178.5 | )
|  |  | 3,508.4 |  |  |  | 3,293.8 |
Non-compete agreements |  |  | 102.9 |  |  |  | 91.3 |
Accumulated amortization - non-compete agreements |  |  | (74.1 | ) |  |  | (67.5 | )
|  |  | 28.8 |  |  |  | 23.8 |
Trade names |  |  | 108.6 |  |  |  | 108.5 |
Accumulated amortization - trade names |  |  | (61.2 | ) |  |  | (54.0 | )
|  |  | 47.4 |  |  |  | 54.5 |
Net amortizable assets |  | $ | 3,584.6 |  |  | $ | 3,372.1 |
Estimated aggregate amortization expense for each of the next five years and thereafter is as follows (in millions):
2023 (remaining three months) |  | $ | 131.6 |
2024 |  |  | 501.1 |
2025 |  |  | 458.7 |
2026 |  |  | 417.2 |
2027 |  |  | 386.2 |
Thereafter |  |  | 1,689.8 |
Total |  | $ | 3,584.6 |

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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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