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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2017
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

Changes in the carrying amount of our goodwill are as follows (dollars in millions):

 

 

 

Goodwill

 

Balance at January 1, 2017

 

$

737.9

 

Acquisitions (a)(b)

 

 

(5.8

)

Balance at September 30, 2017

 

$

732.1

 

 

(a)

During the nine months ended September 30, 2017, the Company recorded a $4.7 million opening balance sheet adjustment to decrease the goodwill balance for the Company’s November 2016 acquisition of Columbus Container, Inc.

 

(b)

During the nine months ended September 30, 2017, the Company received $1.1 million from the seller related to a working capital adjustment. This adjustment was recorded as a decrease to the goodwill balance for the Company's August 2016 acquisition of TimBar Corporation.

 

Components of Intangible Assets

The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

 

 

 

September 30, 2017

 

 

December 31, 2016

 

 

 

Weighted Average Remaining Useful Life (in Years)

 

Gross  Carrying Amount

 

 

Accumulated Amortization

 

 

Weighted Average Remaining Useful Life (in Years)

 

Gross  Carrying Amount

 

 

Accumulated Amortization

 

Customer relationships

 

12.5

 

$

429.4

 

 

$

100.9

 

 

13.1

 

$

424.5

 

 

$

79.8

 

Trademarks and trade names

 

10.7

 

 

28.8

 

 

 

11.8

 

 

10.5

 

 

27.7

 

 

 

8.1

 

Other

 

3.9

 

 

4.2

 

 

 

1.9

 

 

4.3

 

 

4.2

 

 

 

1.4

 

Total intangible assets (excluding goodwill)

 

12.3

 

$

462.4

 

 

$

114.6

 

 

12.9

 

$

456.4

 

 

$

89.3