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Goodwill and Other Intangibles | 6 Months Ended
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Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangibles |
4. | Goodwill and Other Intangibles
The following table shows the changes in goodwill by reportable segment and in total:
|  | East |  |  | West |  |  |  |  |
|  | Group |  |  | Group |  |  | Total |
|  | (Dollars in Millions) |
Balance at January 1, 2021 |  | $ | 572.5 |  |  | $ | 1,841.5 |  |  | $ | 2,414.0 |
Acquisitions |  |  | 185.6 |  |  |  | — |  |  |  | 185.6 |
Balance at June 30, 2021 |  | $ | 758.1 |  |  | $ | 1,841.5 |  |  | $ | 2,599.6 |
Intangible assets subject to amortization consist of the following:
|  | Gross Amount |  |  | Accumulated Amortization |  |  | Net Balance |
(Dollars in Millions) |  | June 30, 2021 |
Noncompetition agreements |  | $ | 4.2 |  |  | $ | (4.1 | ) |  | $ | 0.1 |
Customer relationships |  |  | 306.7 |  |  |  | (40.2 | ) |  |  | 266.5 |
Operating permits |  |  | 460.8 |  |  |  | (51.5 | ) |  |  | 409.3 |
Use rights and other |  |  | 16.4 |  |  |  | (13.6 | ) |  |  | 2.8 |
Trade names |  |  | 23.3 |  |  |  | (13.0 | ) |  |  | 10.3 |
Total |  | $ | 811.4 |  |  | $ | (122.4 | ) |  | $ | 689.0 |
|  | December 31, 2020 |
Noncompetition agreements |  | $ | 4.2 |  |  | $ | (4.1 | ) |  | $ | 0.1 |
Customer relationships |  |  | 91.3 |  |  |  | (35.6 | ) |  |  | 55.7 |
Operating permits |  |  | 460.8 |  |  |  | (48.4 | ) |  |  | 412.4 |
Use rights and other |  |  | 16.3 |  |  |  | (13.0 | ) |  |  | 3.3 |
Trade names |  |  | 12.8 |  |  |  | (12.3 | ) |  |  | 0.5 |
Total |  | $ | 585.4 |  |  | $ | (113.4 | ) |  | $ | 472.0 |
At June 30, 2021 and December 31, 2020, intangible assets deemed to have an indefinite life and not being amortized consist of the following:
(Dollars in Millions) |  | Building Materials business |  |  | Magnesia Specialties |  |  | Total |
Operating permits |  | $ | 6.6 |  |  | $ | — |  |  | $ | 6.6 |
Use rights |  |  | 26.7 |  |  |  | — |  |  |  | 26.7 |
Trade names |  |  | 0.2 |  |  |  | 2.5 |  |  |  | 2.7 |
Total |  | $ | 33.5 |  |  | $ | 2.5 |  |  | $ | 36.0 |
For the six months ended June 30, 2021, the Company acquired $225.9 million of intangibles, which consists of the following:
(Dollars in Millions) |  | Amount |  |  | Weighted-average amortization period
Subject to amortization: |  |  |  |  |  |
Customer relationships |  | $ | 215.4 |  |  | 25 years
Trade name |  |  | 10.5 |  |  | 9 years
Total |  | $ | 225.9 |  |  | 24 years
Total amortization expense for intangible assets for the six months ended June 30, 2021 and 2020 was $8.9 million and $6.4 million, respectively. The estimated amortization expense for intangibles for the second half of 2021 and for each of the next four years and thereafter is as follows:
(Dollars in Millions) |  |  |  |
July - December 2021 |  | $ | 11.8 |
2022 |  |  | 22.9 |
2023 |  |  | 22.7 |
2024 |  |  | 22.3 |
2025 |  |  | 22.2 |
Thereafter |  |  | 587.1 |
Total |  | $ | 689.0 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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