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Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2017
Goodwill and Other Intangible Assets
6. Goodwill and Other Intangible Assets

Changes in the carrying amount of goodwill during the years ended December 31, 2017 and 2016 consisted of the following:

 

(dollars in millions)

   North America      Rest of World      Total  

Balance at December 31, 2015

   $ 361.0      $ 59.9      $ 420.9  

Acquisitions

     70.0        —          70.0  

Currency translation adjustment

     1.2        (0.6      0.6  
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2016

     432.2        59.3        491.5  

Acquisitions

     22.2        —          22.2  

Currency translation adjustment

     2.8        0.2        3.0  
  

 

 

    

 

 

    

 

 

 

Balance at December 31, 2017

   $ 457.2      $ 59.5      $ 516.7  
  

 

 

    

 

 

    

 

 

 

The carrying amount of other intangible assets consisted of the following:

 

     2017      2016  

December 31 (dollars in millions)

   Gross
Carrying
Amount
     Accumulated
Amortization
    Net      Gross
Carrying
Amount
     Accumulated
Amortization
    Net  

Amortizable intangible assets:

               

Patents

   $ 3.7      $ (2.7   $ 1.0      $ 3.7      $ (2.2   $ 1.5  

Customer lists

     235.8        (93.3     142.5        224.0        (80.3     143.7  
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Total amortizable intangible assets

     239.5        (96.0     143.5        227.7        (82.5     145.2  

Indefinite-lived intangible assets:

               

Trade names

     165.2        —         165.2        163.1        —         163.1  
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

Total intangible assets

   $ 404.7      $ (96.0   $ 308.7      $ 390.8      $ (82.5   $ 308.3  
  

 

 

    

 

 

   

 

 

    

 

 

    

 

 

   

 

 

 

 

Amortization expenses of other intangible assets of $13.7 million, $13.4 million, and $14.2 million were recorded in 2017, 2016 and 2015, respectively. In the future, excluding the impact of any future acquisitions, the Company expects amortization expense of approximately $14.5 million annually and the intangible assets will be amortized over a weighted average period of 12 years.

The Company concluded that no goodwill impairment existed at the time of the annual impairment tests which were performed in the fourth quarters of 2017, 2016 and 2015. No impairments of other intangible assets were recorded in 2017, 2016 and 2015.