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Summary of Signficant Accounting Policies Finite-Lived Intangible Assets Acquired as Part of Business Combination (Tables)

12 Months Ended

Dec. 31, 2019

Dec. 31, 2017

Acquired Finite-Lived Intangible Assets [Line Items]

Schedule of Goodwill [Table Text Block]

Intangible Assets

Intangible assets consist primarily of goodwill (the cost of purchased businesses in excess of the fair value of the identifiable net assets acquired) and other specifically identifiable intangible assets, such as trade names, trademarks, customer and supplier relationships, software and other technology related assets, and covenants not to compete.

Goodwill is tested for impairment at least annually, and we performed annual impairment tests during the fourth quarters of 2019, 2018 and 2017. Goodwill impairment testing may also be performed on an interim basis when events or circumstances arise that may lead to impairment. The fair value estimates of our reporting units are established using weightings of the results of a discounted cash flow methodology and a comparative market multiples approach.

Based on the annual goodwill impairment test in 2019, we determined no impairment existed as all of our reporting units had a fair value estimate which exceeded the carrying value by at least 25%.

Based on our annual goodwill impairment test in 2018, we determined the carrying value of our Aviation reporting unit exceeded the fair value estimate by more than the carrying value, thus we recorded an impairment charge of $33 million, which represented the total carrying value of goodwill in our Aviation reporting unit (subsequently sold in the third quarter of 2019). The impairment charge was due to a decrease in the fair value estimate from the prior year fair value estimate, primarily driven by a significant deterioration in the outlook for the Aviation reporting unit due to competition, customer financial issues and changing market conditions for the airplane platforms that the business services, which lowered our projected gross margin and related future cash flows. We reported the impairment charge in Impairment of net assets held for sale and goodwill in the Consolidated Statements of Income for the year ended December 31, 2018.

The changes in the carrying amount of goodwill by reportable segment are as follows (in thousands):

	North America				Europe				Specialty				Total
Balance as of January 1, 2018	$	1,709,354			$	1,414,898			$	412,259			$	3,536,511
Business acquisitions and adjustments to previously recorded goodwill	6,805				970,923				(4,838		)		972,890
Impairment of goodwill	(33,244		)		—				—				(33,244		)
Exchange rate effects	(9,383		)		(85,532		)		216				(94,699		)
Balance as of December 31, 2018	$	1,673,532			$	2,300,289			$	407,637			$	4,381,458
Business acquisitions and adjustments to previously recorded goodwill	38,913				15,099				—				54,012
Reclassified to net assets held for sale and discontinued operations	—				(4,721		)		—				(4,721		)
Disposal of business	—				(1,919		)		—				(1,919		)
Exchange rate effects	5,599				(27,847		)		(47		)		(22,295		)
Balance as of December 31, 2019	$	1,718,044			$	2,280,901			$	407,590			$	4,406,535
Accumulated impairment losses as of December 31, 2019	$	(33,244	)		$	—			$	—			$	(33,244	)

Schedule of Finite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block]

The components of intangible assets acquired as part of our acquisitions in 2018 are as follows (in thousands):

	Year Ended
	December 31, 2018
	Stahlgruber				Other Acquisitions (1)				Total
Trade names and trademarks	$	173,946			$	8,870			$	182,816
Customer and supplier relationships	77,980				20,779				98,759
Software and other technology related assets	33,329				376				33,705
Covenants not to compete	—				—				—
Total	$	285,255			$	30,025			$	315,280

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life

16 years 6 months

Acquired Finite-lived Intangible Assets, Weighted Average Useful Life [Table Text Block]

The weighted-average amortization periods for our intangible assets acquired during the years ended December 31, 2018 and 2017 are as follows (in years):

	Year Ended									Year Ended
	December 31, 2018									December 31, 2017
	Stahlgruber			Other Acquisitions			Total			All Acquisitions
Trade names and trademarks	18.0			10.0			17.6			11.2
Customer and supplier relationships	3.0			7.9			4.0			18.6
Software and other technology related assets	5.2			6.5			5.2			11.1
Covenants not to compete	—			—			—			4.4
Total acquired finite-lived intangible assets	12.4			8.5			12.0			16.5

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Acquired Finite-lived Intangible Assets, Weighted Average Useful Life [Table Text Block]

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Tabular disclosure of finite-lived intangible assets acquired as part of a business combination or through an asset purchase, by major class and in total, including the value of the asset acquired, any significant residual value (the expected value of the asset at the end of its useful life) and the weighted-average amortization period.

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Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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