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Intangible Assets | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets | 7. Intangible Assets The carrying amount of goodwill at December 31, 2023 and 2022 allocated by domestic and foreign operations is as follows (in millions):
|  | Brokerage |  |  | Risk Management |  |  | Corporate |  |  | Total |
At December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
United States |  | $ | 6,304.5 |  |  | $ | 74.8 |  |  | $ | — |  |  | $ | 6,379.3 |
United Kingdom |  |  | 2,493.4 |  |  |  | 18.5 |  |  |  | — |  |  |  | 2,511.9 |
Canada |  |  | 623.7 |  |  |  | — |  |  |  | — |  |  |  | 623.7 |
Australia |  |  | 514.6 |  |  |  | 135.9 |  |  |  | — |  |  |  | 650.5 |
New Zealand |  |  | 204.2 |  |  |  | 9.6 |  |  |  | — |  |  |  | 213.8 |
Other foreign |  |  | 1,077.4 |  |  |  | — |  |  |  | 19.0 |  |  |  | 1,096.4 |
Total goodwill - net |  | $ | 11,217.8 |  |  | $ | 238.8 |  |  | $ | 19.0 |  |  | $ | 11,475.6 |
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 - net |  | $ | 9,358.1 |  |  | $ | 112.2 |  |  | $ | 19.1 |  |  | $ | 9,489.4 |
The changes in the carrying amount of goodwill for 2023 and 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 year |  |  | 693.9 |  |  |  | 16.0 |  |  |  | — |  |  |  | 709.9 |
Goodwill adjustments related to appraisals and other acquisition adjustments |  |  | 428.3 |  |  |  | (1.6 | ) |  |  | 0.2 |  |  |  | 426.9 |
Foreign currency translation adjustments during the year |  |  | (308.7 | ) |  |  | (3.1 | ) |  |  | (1.8 | ) |  |  | (313.6 | )
Balance as of December 31, 2022 |  |  | 9,358.1 |  |  |  | 112.2 |  |  |  | 19.1 |  |  |  | 9,489.4 |
Goodwill acquired during the year |  |  | 1,667.4 |  |  |  | 121.8 |  |  |  | — |  |  |  | 1,789.2 |
Goodwill adjustments related to appraisals and other acquisition adjustments |  |  | 20.0 |  |  |  | (0.1 | ) |  |  | — |  |  |  | 19.9 |
Foreign currency translation adjustments during the year |  |  | 172.3 |  |  |  | 4.9 |  |  |  | (0.1 | ) |  |  | 177.1 |
Balance as of December 31, 2023 |  | $ | 11,217.8 |  |  | $ | 238.8 |  |  | $ | 19.0 |  |  | $ | 11,475.6 |
Major classes of amortizable intangible assets consist of the following (in millions):
|  | December 31, |
|  | 2023 |  |  | 2022 |
Expiration lists |  | $ | 8,222.8 |  |  | $ | 6,472.3 |
Accumulated amortization - expiration lists |  |  | (3,733.2 | ) |  |  | (3,178.5 | )
|  |  | 4,489.6 |  |  |  | 3,293.8 |
Non-compete agreements |  |  | 112.2 |  |  |  | 91.3 |
Accumulated amortization - non-compete agreements |  |  | (74.9 | ) |  |  | (67.5 | )
|  |  | 37.3 |  |  |  | 23.8 |
Trade names |  |  | 171.8 |  |  |  | 108.5 |
Accumulated amortization - trade names |  |  | (65.4 | ) |  |  | (54.0 | )
|  |  | 106.4 |  |  |  | 54.5 |
Net amortizable assets |  | $ | 4,633.3 |  |  | $ | 3,372.1 |
Estimated aggregate amortization expense for each of the next five years is as follows (in millions):
2024 |  | $ | 623.2 |
2025 |  |  | 580.7 |
2026 |  |  | 537.7 |
2027 |  |  | 500.5 |
2028 |  |  | 459.2 |
Thereafter |  |  | 1,932.0 |
Total |  | $ | 4,633.3 |

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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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