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Goodwill and Identifiable Intangible Assets, net | 9 Months Ended
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Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Identifiable Intangible Assets, net | Goodwill and Identifiable Intangible Assets, net Goodwill The following table shows our goodwill balances by reportable segment. We review goodwill for impairment on a reporting unit basis annually during the fourth quarter of each year and whenever events or changes in circumstances indicate the carrying value of goodwill may not be recoverable. As of September 30, 2020, we did not identify any changes in circumstances that would indicate the carrying value of goodwill may not be recoverable. As part of our on-going assessment of goodwill impairment considerations, the Company considered the impact that COVID-19 has had on the overall economic environment, more specifically on the markets in which our products are sold. The Company does not believe the COVID-19 pandemic has had a material negative impact on our business to date, nor has it triggered a need to perform a quantitative impairment test on our goodwill balances. The assessment is based on the significant headroom of the reporting units' calculated fair value over their carrying value as of our most recent annual test and after consideration of the Company's year-to-date financial results and expected long-term financial performance. We will continue to assess COVID-19's impact on our business, including any indicators of goodwill impairment.
(In millions) |  | Food |  | Protective |  | Total
Gross Carrying Value at December 31, 2019 |  | $ | 577.2 |  |  | $ | 1,830.0 |  |  | $ | 2,407.2 |
Accumulated impairment(1) |  | (49.3) |  |  | (141.0) |  |  | (190.3) |
Carrying Value at December 31, 2019 |  | $ | 527.9 |  |  | $ | 1,689.0 |  |  | $ | 2,216.9 |
Acquisition, purchase price and other adjustments |  | — |  |  | (5.0) |  |  | (5.0) |
Currency translation |  | (4.4) |  |  | 0.2 |  |  | (4.2) |
Carrying Value at September 30, 2020 |  | $ | 523.5 |  |  | $ | 1,684.2 |  |  | $ | 2,207.7 |
(1)There was no change to our accumulated impairment balance during the nine months ended September 30, 2020. Identifiable Intangible Assets, net The following tables summarize our identifiable intangible assets, net. As of September 30, 2020, there were no impairment indicators present.
| September 30, 2020 |  | December 31, 2019
(In millions) | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net |  | Gross Carrying Value |  | Accumulated Amortization |  |  |  | Net
Customer relationships | $ | 102.0 |  |  | $ | (34.9) |  |  |  |  | $ | 67.1 |  |  | $ | 102.0 |  |  | $ | (30.5) |  |  |  |  | $ | 71.5 |
Trademarks and tradenames | 30.9 |  |  | (7.5) |  |  |  |  | 23.4 |  |  | 31.1 |  |  | (4.3) |  |  |  |  | 26.8 |
Software | 109.3 |  |  | (78.7) |  |  |  |  | 30.6 |  |  | 95.3 |  |  | (62.8) |  |  |  |  | 32.5 |
Technology | 67.0 |  |  | (32.1) |  |  |  |  | 34.9 |  |  | 66.8 |  |  | (27.2) |  |  |  |  | 39.6 |
Contracts | 13.5 |  |  | (10.8) |  |  |  |  | 2.7 |  |  | 13.2 |  |  | (10.4) |  |  |  |  | 2.8 |
Total intangible assets with definite lives | 322.7 |  |  | (164.0) |  |  |  |  | 158.7 |  |  | 308.4 |  |  | (135.2) |  |  |  |  | 173.2 |
Trademarks and tradenames with indefinite lives | 8.9 |  |  | — |  |  |  |  | 8.9 |  |  | 8.9 |  |  | — |  |  |  |  | 8.9 |
Total identifiable intangible assets, net | $ | 331.6 |  |  | $ | (164.0) |  |  |  |  | $ | 167.6 |  |  | $ | 317.3 |  |  | $ | (135.2) |  |  |  |  | $ | 182.1 |
The following table shows the remaining estimated future amortization expense at September 30, 2020.
Year |  | Amount (in millions)
Remainder of 2020 |  | $ | 12.2 |
2021 |  | 29.9 |
2022 |  | 22.2 |
2023 |  | 15.9 |
2024 |  | 14.1 |
Thereafter |  | 64.4 |
Total |  | $ | 158.7 |

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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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