XML 24 R13.htm IDEA: XBRL DOCUMENT v3.20.2

Intangibles

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Intangibles

INTANGIBLES

The change in the carrying amount of goodwill by segment for the nine months ended September 30, 2020 is as follows:

In millions			Freight Segment						Transit Segment						Total
Balance at December 31, 2019			$	6,876.6					$	1,484.0					$	8,360.6
Additions / opening balance sheet adjustments			(3.5)						—						(3.5)
Disposals			(5.6)						—						(5.6)
Foreign currency impact			(29.9)						44.5						14.6
Balance at September 30, 2020			$	6,837.6					$	1,528.5					$	8,366.1

As of September 30, 2020 and December 31, 2019, the Company’s trade names had a net carrying amount of $627.6 million and $623.1 million, respectively. The Company believes these intangibles have indefinite lives, with the exception of the right to use the GE Transportation trade name, to which the Company has assigned a useful life of 5 years.

Intangible assets of the Company, other than goodwill and trade names, consist of the following:

In millions			September 30, 2020						December 31, 2019
Intellectual property, patents, and other intangibles, net of accumulated amortization of $198.2 and $123.8			$	1,032.3					$	1,108.9
Backlog, net of accumulated amortization of $177.7 and $92.0			1,248.5						1,342.1
Customer relationships, net of accumulated amortization of $254.2 and $212.9			981.2						1,029.9
Total			$	3,262.0					$	3,480.9

The weighted average remaining useful life of backlog, intellectual property, customer relationships and other intangibles were 13 years, 12 years, 17 years and 9 years, respectively. The backlog intangible primarily consists of in-place long-term service agreements acquired by the Company in conjunction with the acquisition of GE Transportation. Amortization expense for intangible assets was $70.3 million and $211.6 million for the three and nine months ended September 30, 2020 and $79.5 million and $172.9 million for the three and nine months ended September 30, 2019, respectively.

Amortization expense for the five succeeding years is estimated to be as follows:

In millions
Remainder of 2020			$	69.5
2021			277.7
2022			277.1
2023			276.7
2024			267.2

X

- References

No definition available.

+ Details

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration