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Intangible Assets, net
9 Months Ended
Sep. 30, 2018
Intangible Assets, net  
Intangible Assets, net

6.  Intangible Assets, net

 

Intangible assets, net consisted of the following:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

September 30, 2018

 

December 31, 2017

 

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

4.7

 

$

0.9

 

$

(0.5)

 

$

0.8

 

$

(0.4)

Customer lists/relationships

15.1

 

 

698.2

 

 

(384.6)

 

 

745.0

 

 

(391.3)

Software

10.0

 

 

8.1

 

 

(8.1)

 

 

8.1

 

 

(8.1)

Other

7.6

 

 

1.0

 

 

(0.9)

 

 

6.3

 

 

(5.9)

 

 

 

 

708.2

 

 

(394.1)

 

 

760.2

 

 

(405.7)

Intangible assets not subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

Trade names

 

 

 

750.4

 

 

 

 

757.6

 

 

 

 

 

$

1,458.6

 

$

(394.1)

 

$

1,517.8

 

$

(405.7)

 

Intangible assets recorded in connection with our acquisitions of KMS and DuBose were $22.9 million as of September 30, 2018 (see Note 3—“Acquisitions”). A total of $10.0 million was allocated to the trade names acquired, which is not subject to amortization.

 

We recognized amortization expense for intangible assets of $35.1 million and $38.9 million for the nine months ended September 30, 2018 and 2017, respectively. Foreign currency translation losses related to intangible assets, net, were $1.5 million during the nine months ended September 30, 2018.

 

During the three-month and nine-month periods ended September 30, 2018 we recognized impairment losses of $16.5 million and $16.7 million on our trade name and customer relationship intangible assets, respectively, related to one of our energy businesses. See Note 12—“Impairment and Restructuring Charges” for further discussion of our impairment losses.

 

The following is a summary of estimated aggregate amortization expense for the remaining three months of 2018 and each of the succeeding five years:

 

 

 

 

 

(in millions)

2018 (remaining three months)

$

10.5

2019

 

41.9

2020

 

41.9

2021

 

40.2

2022

 

35.5

2023

 

29.5