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Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

The following summarizes the Company's goodwill by reportable segment:    

(in millions)			North America						International						Consolidated
Balance as of December 31, 2018			$	576.7					$	146.3					$	723.0
Goodwill resulting from acquisitions			2.4						5.4						7.8
Foreign currency translation adjustments and other			2.8						(1.3)						1.5
Balance as of December 31, 2019			$	581.9					$	150.4					$	732.3
Goodwill resulting from acquisition			26.7						—						26.7
Foreign currency translation adjustments and other			1.7						5.6						7.3
Balance as of December 31, 2020			$	610.3					$	156.0					$	766.3

The following table summarizes information relating to the Company’s other intangible assets, net:

($ in millions)									December 31, 2020																		December 31, 2019
			Useful Lives (Years)						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount						Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount
Unamortized indefinite life intangible assets:
Trade names									$	560.7											$	560.7					$	559.5											$	559.5
Amortized intangible assets:
Contractual distributor relationships			15						85.7						44.5						41.2						85.5						38.7						46.8
Technology and other			4-10						91.3						75.9						15.4						91.1						68.7						22.4
Patents, other trademarks and other trade names			5-20						28.7						21.3						7.4						27.9						18.6						9.3
Customer databases, relationships and reacquired rights			2-5						35.1						29.7						5.4						30.9						27.5						3.4
Total									$	801.5					$	171.4					$	630.1					$	794.9					$	153.5					$	641.4

Amortization expense relating to intangible assets for the Company was $17.5 million, $15.9 million and $15.3 million for the years ended December 31, 2020, 2019 and 2018, respectively, and is recorded in general, administrative and other expenses in the Company's Consolidated Statements of Income. No impairments of goodwill or other intangible assets have adjusted the gross carrying amount of these assets in any period.

Estimated annual amortization of intangible assets is expected to be as follows for the years ending December 31:

(in millions)
2021			$	20.0
2022			14.2
2023			8.2
2024			6.6
2025			6.5
Thereafter			13.9
Total			$	69.4

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- References

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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

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