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Goodwill and Acquired Client Relationships | 3 Months Ended
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Mar. 31, 2019
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
Balance, as of December 31, 2018 |  | $ | 2,633.4 |
Foreign currency translation |  | 9.0 |
Balance, as of March 31, 2019 |  | $ | 2,642.4 |
| 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, 2018 | $ | 1,292.5 |  |  | $ | (988.9 | ) |  | $ | 303.6 |  |  | $ | 1,006.3 |  |  | $ | 1,309.9 |
Intangible amortization and impairments | — |  |  | (29.6 | ) |  | (29.6 | ) |  | — |  |  | (29.6 | )
Foreign currency translation | 1.0 |  |  | — |  |  | 1.0 |  |  | 8.2 |  |  | 9.2 |
Balance, as of March 31, 2019 | $ | 1,293.5 |  |  | $ | (1,018.5 | ) |  | $ | 275.0 |  |  | $ | 1,014.5 |  |  | $ | 1,289.5 |
Definite-lived acquired client relationships are amortized over their expected period of economic benefit. The Company recorded amortization expense within Intangible amortization and impairments in the Consolidated Statements of Income for these relationships of $23.2 million and $29.6 million for the three months ended March 31, 2018 and 2019, respectively. Based on relationships existing as of March 31, 2019, the Company estimates that its consolidated annual amortization expense will be approximately $120 million in 2019, approximately $90 million in 2020, and approximately $65 million in each of 2021, 2022 and 2023.

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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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