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Intangible Assets, net

9 Months Ended

Sep. 30, 2021

Note 6. Intangible Assets, net

Intangible assets, net consisted of the following:


		September 30, 2021				December 31, 2020
	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	5.0	$	0.7	$	(0.5)	$	0.7	$	(0.5)
Customer lists/relationships	14.9		623.2		(424.1)		623.2		(396.7)
Software	10.0		8.1		(8.1)		8.1		(8.1)
Other	5.1		0.6		(0.6)		1.1		(0.9)
			632.6		(433.3)		633.1		(406.2)
Intangible assets not subject to amortization:
Trade names			720.2		—		720.2		—
		$	1,352.8	$	(433.3)	$	1,353.3	$	(406.2)

Amortization expense for intangible assets was $27.5 million and $30.3 million for the nine months ended September 30, 2021 and 2020, respectively. Foreign currency translation losses related to intangible assets, net, were $0.1 million and $2.8 million for the nine months ended September 30, 2021 and 2020, respectively.

In the nine months ended September 30, 2020, we recognized impairment losses of $67.8 million on our trade names and $30.7 million on our customer lists/relationships intangible assets, mainly related to certain of our energy-related (oil and natural gas) businesses. See Note 13—“Impairment and Restructuring Charges” for further discussion.

The following is a summary of estimated future amortization expense for the remaining three months of 2021 and each of the succeeding five years:


	(in millions)
2021 (remaining three months)	$	9.0
2022		35.9
2023		31.6
2024		28.1
2025		23.9
2026		14.4