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Goodwill and Acquired Client Relationships | 12 Months Ended
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Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Acquired Client Relationships | Goodwill and Acquired Client Relationships The following tables present the changes in the Company’s consolidated Affiliates’ Goodwill and components of Acquired client relationships (net):
|  | Goodwill
|  | 2017 |  | 2018
Balance, beginning of period |  | $ | 2,628.1 |  |  | $ | 2,662.5 |
Foreign currency translation |  | 34.4 |  |  | (29.1 | )
Balance, end of period |  | $ | 2,662.5 |  |  | $ | 2,633.4 |
As of September 30, 2018, the Company completed its impairment assessment on goodwill and no impairments were indicated.
|  | Acquired Client Relationships (Net)
|  | Definite-lived |  | Indefinite-lived |  | Total
|  | Gross Book Value |  | Accumulated Amortization |  | Net Book Value |  | Net Book Value |  | Net Book Value
Balance, as of December 31, 2016 |  | $ | 1,290.0 |  |  | $ | (788.1 | ) |  | $ | 501.9 |  |  | $ | 995.5 |  |  | $ | 1,497.4 |
Intangible amortization and impairments |  | — |  |  | (86.4 | ) |  | (86.4 | ) |  | — |  |  | (86.4 | )
Foreign currency translation |  | 5.5 |  |  | — |  |  | 5.5 |  |  | 33.2 |  |  | 38.7 |
Balance, as of December 31, 2017 |  | $ | 1,295.5 |  |  | $ | (874.5 | ) |  | $ | 421.0 |  |  | $ | 1,028.7 |  |  | $ | 1,449.7 |
Intangible amortization and impairments |  | — |  |  | (114.4 | ) |  | (114.4 | ) |  | (0.4 | ) |  | (114.8 | )
Foreign currency translation |  | (3.0 | ) |  | — |  |  | (3.0 | ) |  | (22.0 | ) |  | (25.0 | )
Balance, as of December 31, 2018 |  | $ | 1,292.5 |  |  | $ | (988.9 | ) |  | $ | 303.6 |  |  | $ | 1,006.3 |  |  | $ | 1,309.9 |
Definite-lived acquired client relationships are amortized over their expected period of economic benefit. The Company recorded amortization expense within Intangible amortization and impairments for these relationships of $107.7 million, $86.4 million and $114.4 million, respectively, for the years ended December 31, 2016, 2017 and 2018. Based on relationships existing as of December 31, 2018, the Company estimates that its consolidated annual amortization expense will be approximately $110 million in 2019, $55 million in 2020, and $30 million in 2021, 2022 and 2023. During 2018, the Company completed impairment assessments on its definite-lived and indefinite-lived acquired client relationships and no impairments were indicated.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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