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Goodwill and Intangible Assets
12 Months Ended
Dec. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

9. Goodwill and Intangible Assets

Goodwill

Goodwill and changes therein were as follows:

 

 

 

(Dollars in millions)

 

Balance at December 31, 2018

 

$

1,927.4

 

Acquisitions

 

 

25.7

 

Translation

 

 

20.4

 

Balance at December 31, 2019

 

 

1,973.5

 

Acquisition

 

 

42.7

 

Translation

 

 

15.6

 

Balance at December 31, 2020

 

$

2,031.8

 

Tax-deductible goodwill at December 31, 2020

 

$

23.0

 

 

Please refer to Note 4, “Business Combinations,” for further discussion of our RITEQ and Excelity acquisitions.

 

We perform an impairment assessment of our goodwill balances as of October 1 of each year. Goodwill impairment testing is performed at the reporting unit level, which is the operating segment level or one level below. We performed a qualitative assessment as of October 1, 2020 and concluded that it is not more likely than not that the fair value of our reporting unit is less than its carrying amount.

Intangible Assets

Other intangible assets, net consist of the following:

 

 

December 31, 2020

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

 

 

Estimated Life

Range (Years)

 

 

(Dollars in millions)

 

 

 

Customer lists and relationships

 

$

229.0

 

 

$

(212.1

)

 

$

16.9

 

 

5-15

Trade name

 

 

177.7

 

 

 

(2.5

)

 

 

175.2

 

 

3-5 and Indefinite

Technology

 

 

159.5

 

 

 

(156.6

)

 

 

2.9

 

 

3-4

Total other intangible assets

 

$

566.2

 

 

$

(371.2

)

 

$

195.0

 

 

 

 

 

 

 

December 31, 2019

 

 

Gross Carrying

Amount

 

 

Accumulated

Amortization

 

 

Net

 

 

Estimated Life

Range (Years)

 

 

(Dollars in millions)

 

 

 

Customer lists and relationships

 

$

212.5

 

 

$

(208.2

)

 

$

4.3

 

 

5-15

Trade name

 

 

174.0

 

 

 

(2.1

)

 

 

171.9

 

 

3 and Indefinite

Technology

 

 

156.1

 

 

 

(154.4

)

 

 

1.7

 

 

3-4

Total other intangible assets

 

$

542.6

 

 

$

(364.7

)

 

$

177.9

 

 

 

 

We perform an impairment assessment of our indefinite-lived intangible assets as of October 1 of each year. We performed a qualitative assessment as of October 1, 2020 and concluded that it is not more likely than not that the fair value of our trade name intangible assets with indefinite lives exceeded their respective carrying amounts. We continue to evaluate the use of our trade names and branding in our sales and marketing efforts. If there is a fundamental shift in the method of our branding in the future, we will assess the impact on the carrying amount of our trade name intangible assets to determine whether an impairment exists. If it is determined that an impairment has occurred, it would be recognized during the period in which the decision was made to make the fundamental shift.  

 

Amortization expense related to definite-lived intangible assets was $3.8 million, $16.2 million, and $18.5 million for the years ended December 31, 2020, 2019, and 2018, respectively. We estimate the future amortization of other intangible assets is as follows:

 

Years Ending December 31,

 

Amount

 

 

 

(Dollars in millions)

 

2021

 

$

6.2

 

2022

 

 

5.8

 

2023

 

 

5.0

 

2024

 

 

4.3

 

2025

 

 

1.8

 

 

Long-Lived Assets by Geographic Area

Long-lived assets consist of right of use lease asset, property, plant and equipment, net, goodwill, and other intangible assets, net. Long-lived assets by country consist of the following:

 

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

(Dollars in millions)

 

United States

 

$

1,796.9

 

 

$

1,800.5

 

Canada

 

 

488.6

 

 

 

481.2

 

Other

 

 

105.6

 

 

 

30.0

 

Total long-lived assets

 

$

2,391.1

 

 

$

2,311.7