Intangible Assets, net

6 Months Ended

Jun. 30, 2016

5. Intangible Assets, net

Intangible assets, net consisted of the following:


		June 30, 2016				December 31, 2015
	Weighted Average	Gross				Gross
	Amortizable	Carrying		Accumulated		Carrying		Accumulated
	Life in Years	Amount		Amortization		Amount		Amortization
		(in millions)
Intangible assets subject to amortization:
Covenants not to compete	4.5	$	1.5	$	(1.1)	$	1.3	$	(1.0)
Customer lists/relationships	14.8		731.4		(313.2)		659.0		(285.7)
Software – internal use	10.0		8.1		(8.1)		8.1		(7.9)
Other	5.2		6.3		(5.5)		6.3		(5.0)
			747.3		(327.9)		674.7		(299.6)
Intangible assets not subject to amortization:
Trade names			785.9		—		750.3		—
		$	1,533.2	$	(327.9)	$	1,425.0	$	(299.6)

Intangible assets recorded in connection with our 2016 acquisitions were $103.4 million as of June 30, 2016 (see Note 3 — “Acquisitions”). A total of $34.1 million was allocated to the trade names acquired, which is not subject to amortization.

We recognized amortization expense for intangible assets of $27.1 million and $27.7 million for the six months ended June 30, 2016 and 2015, respectively. Foreign currency translation gains related to intangible assets, net, were approximately $3.6 million during the six months ended June 30, 2016.

The following is a summary of estimated aggregate amortization expense for the remaining six months of 2016 and each of the succeeding five years:


	(in millions)

2016	$	26.7
2017		49.8
2018		45.4
2019		45.3
2020		45.3
2021		41.4