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Intangible Assets, Goodwill and Other (Policies) | 3 Months Ended
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Sep. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets, Goodwill, Policy | 6. GOODWILL AND INTANGIBLE ASSETS The changes in the carrying amount of goodwill for the nine months ended September 30, 2024, were as follows:
| Dx |  |  |  | BLS |  |  |  | Total |  |
Balance as of December 31, 2023 | $ | 4,813.9 |  |  |  |  | $ | 1,328.6 |  |  |  |  | $ | 6,142.5 |  |  |
Goodwill acquired during the period | 349.5 |  |  |  |  | — |  |  |  |  | 349.5 |  |  |
Foreign currency impact and other adjustments to goodwill | (9.5) |  |  |  |  | (0.1) |  |  |  |  | (9.6) |  |  |
Balance as of September 30, 2024 | $ | 5,153.9 |  |  |  |  | $ | 1,328.5 |  |  |  |  | $ | 6,482.4 |  |  |
The Company assesses goodwill and indefinite-lived intangibles for impairment at least annually or whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company recognizes an impairment charge for the amount by which the reporting unit's carrying amount exceeds its fair value. Although the Company believes that the current assumptions and estimates used in its goodwill analysis are reasonable, supportable, and appropriate, the Company's business could be impacted by unfavorable changes, including those that impact the existing assumptions used in the impairment analysis. Various factors could reasonably be expected to unfavorably impact existing assumptions: primarily, a worsening economic environment and protracted economic downturn and related impacts, including delays in revenue from new customers; increases in customer termination activity; or increases in operating costs. Accordingly, there can be no assurance that the estimates and assumptions made for the purposes of the goodwill impairment analysis will prove to be accurate predictions of future performance. The Company will continue to monitor the financial performance of, and assumptions for, its reporting units. A significant increase in the discount rate, decrease in the revenue and terminal growth rates, decreased operating margin, or substantial reductions in end markets and volume assumptions, could have a negative impact on the estimated fair value of the reporting units. A future impairment charge for goodwill or intangible assets could have a material effect on the Company's consolidated financial position and results of operations. The components of identifiable intangible assets were as follows:
| September 30, 2024 |  | December 31, 2023 |  |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net |  |  |
Customer relationships | $ | 4,208.6 |  |  | $ | (1,512.5) |  |  | $ | 2,696.1 |  |  | $ | 3,868.6 |  |  | $ | (1,367.2) |  |  | $ | 2,501.4 |  |  |  |
Patents, licenses, and technology | 523.8 |  |  | (292.1) |  |  | 231.7 |  |  | 526.6 |  |  | (273.3) |  |  | 253.3 |  |  |  |
Non-compete agreements | 192.2 |  |  | (78.9) |  |  | 113.3 |  |  | 130.3 |  |  | (60.4) |  |  | 69.9 |  |  |  |
Canadian licenses | 484.6 |  |  | — |  |  | 484.6 |  |  | 498.8 |  |  | — |  |  | 498.8 |  |  |  |
Other | 34.3 |  |  | (19.3) |  |  | 15.0 |  |  | 34.1 |  |  | (15.5) |  |  | 18.6 |  |  |  |
| 5,443.5 |  |  | (1,902.8) |  |  | 3,540.7 |  |  | 5,058.4 |  |  | (1,716.4) |  |  | 3,342.0 |  |  |  |
Amortization of intangible assets for the three and nine months ended September 30, 2024, and 2023, was $63.7 and $55.7 and $186.0 and $160.6, respectively. The amortization expense for the net carrying amount of intangible assets is estimated to be $71.0 for the remainder of fiscal 2024, $260.4 in fiscal 2025, $251.4 in fiscal 2026, $240.1 in fiscal 2027, $232.2 in fiscal 2028, and $1,915.4 thereafter.

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- Definition Disclosure of accounting policy for goodwill. This accounting policy also may address how an entity assesses and measures impairment of goodwill, how reporting units are determined, how goodwill is allocated to such units, and how the fair values of the reporting units are determined. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482548/350-20-55-24 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482573/350-20-50-2 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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