Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

A summary of the activity and balances in goodwill accounts by reporting segment follows:


	Balance as of December 31, 2023		Acquisitions		Divestitures		Adjustments to Acquisitions and Other		Balance as of March 31, 2024
Group 1	$	7,312.4	$	1.2	$	—	$	1.0	$	7,314.6
Group 2	6,445.5		0.3		—		0.3		6,446.1
Group 3	2,076.6		14.9		—		0.1		2,091.6
Total	$	15,834.5	$	16.4	$	—	$	1.4	$	15,852.3

Adjustments to acquisitions during the three months ended March 31, 2024 primarily related to changes in our valuation of tangible assets acquired and certain environmental liabilities assumed as a result of obtaining new information regarding the acquisitions that closed in 2023.

Other Intangible Assets, Net

Other intangible assets, net, include values assigned to customer relationships, non-compete agreements and trade names, and are amortized over periods ranging from 1 to 15 years. A summary of the activity and balances by intangible asset type follows:


	Gross Intangible Assets								Accumulated Amortization
	Balance as of December 31, 2023		Acquisitions		Adjustments and Other		Balance as of March 31, 2024		Balance as of December 31, 2023		Additions Charged to Expense		Adjustments and Other		Balance as of March 31, 2024		Other Intangible Assets, Net as of March 31, 2024
Customer relationships	$	631.7	$	3.3	$	—	$	635.0	$	(165.7)	$	(15.3)	$	—	$	(181.0)	$	454.0
Non-compete agreements	30.4		0.9		—		31.3		(15.7)		(1.5)		—		(17.2)		14.1
Other intangible assets	23.2		—		—		23.2		(7.7)		(1.0)		—		(8.7)		14.5
Total	$	685.3	$	4.2	$	—	$	689.5	$	(189.1)	$	(17.8)	$	—	$	(206.9)	$	482.6