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Goodwill and Other Intangible Assets | 6 Months Ended
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Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Other Intangible Assets | Goodwill and Other Intangible Assets A reconciliation of goodwill and accumulated goodwill impairment losses, by reportable segment, is as follows:
(in millions) | Northeast |  | South |  | West |  | Midwest |  | Other |  | Total
Balance as of December 31, 2020 |  |  |  |  |  |  |  |  |  |  |
Goodwill, gross | $ | 914.3 |  |  | $ | 236.6 |  |  | $ | 216.8 |  |  | $ | 1,116.7 |  |  | $ | 155.5 |  |  | $ | 2,639.9 |
Accumulated goodwill impairment losses | (761.4) |  |  | (61.0) |  |  | (16.6) |  |  | (556.1) |  |  | (87.7) |  |  | (1,482.8) |
Goodwill, net | $ | 152.9 |  |  | $ | 175.6 |  |  | $ | 200.2 |  |  | $ | 560.6 |  |  | $ | 67.8 |  |  | $ | 1,157.1 |
Goodwill acquired during the period | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8.5 |  |  | $ | 8.5 |
Balance as of June 30, 2021 |  |  |  |  |  |  |  |  |  |  |
Goodwill, gross | $ | 914.3 |  |  | $ | 236.6 |  |  | $ | 216.8 |  |  | $ | 1,116.7 |  |  | $ | 164.0 |  |  | $ | 2,648.4 |
Accumulated goodwill impairment losses | (761.4) |  |  | (61.0) |  |  | (16.6) |  |  | (556.1) |  |  | (87.7) |  |  | (1,482.8) |
Goodwill, net | $ | 152.9 |  |  | $ | 175.6 |  |  | $ | 200.2 |  |  | $ | 560.6 |  |  | $ | 76.3 |  |  | $ | 1,165.6 |
There were no impairment charges recorded to goodwill during the three and six months ended June 30, 2021. 2020 Assessment for Impairment During the first quarter of 2020, we identified an indicator of impairment on our goodwill and other intangible assets due to the COVID-19 pandemic. As a result of the COVID-19 pandemic, we revised our cash flow projections to reflect changes in the economic environment, including the uncertainty surrounding the nature, timing and extent of gaming property closures. As a result of the interim assessment for impairment, during the first quarter of 2020, we recognized impairments on our goodwill, gaming licenses, and trademarks of $113.0 million, $437.0 million, and $61.5 million, respectively. The estimated fair values of the reporting units were determined through a combination of a discounted cash flow model and a market-based approach, which utilized Level 3 inputs. The estimated fair values of the gaming licenses and trademarks were determined by using discounted cash flow models, which utilized Level 3 inputs. The goodwill impairments pertained to our Northeast, South, and Midwest segments, in the amounts of $43.5 million, $9.0 million and $60.5 million, respectively. The gaming license impairments pertained to our Northeast, South, and Midwest segments in the amounts of $177.0 million, $166.0 million and $94.0 million, respectively. The trademark impairments pertained to our Northeast, South, Midwest, and West segments, in the amounts of $17.0 million, $17.0 million, $15.0 million, and $12.5 million, respectively. No further impairments were recorded for the three months ended June 30, 2020. The table below presents the gross carrying amount, accumulated amortization and net carrying amount of each major class of other intangible assets:
| June 30, 2021 |  | December 31, 2020
(in millions) | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount |  | Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Indefinite-lived intangible assets |  |  |  |  |  |  |  |  |  |  |
Gaming licenses | $ | 1,263.4 |  |  | $ | — |  |  | $ | 1,263.4 |  |  | $ | 1,246.1 |  |  | $ | — |  |  | $ | 1,246.1 |
Trademarks | 240.9 |  |  | — |  |  | 240.9 |  |  | 240.9 |  |  | — |  |  | 240.9 |
Other | 0.7 |  |  | — |  |  | 0.7 |  |  | 0.7 |  |  | — |  |  | 0.7 |
Amortizing intangible assets |  |  |  |  |  |  |  |  |  |  |
Customer relationships | 106.1 |  |  | (87.4) |  |  | 18.7 |  |  | 106.9 |  |  | (85.2) |  |  | 21.7 |
Other | 44.2 |  |  | (36.2) |  |  | 8.0 |  |  | 39.6 |  |  | (35.5) |  |  | 4.1 |
Total other intangible assets | $ | 1,655.3 |  |  | $ | (123.6) |  |  | $ | 1,531.7 |  |  | $ | 1,634.2 |  |  | $ | (120.7) |  |  | $ | 1,513.5 |
There were no impairment charges recorded to other intangible assets, net for the three and six months ended June 30, 2021. Amortization expense related to our amortizing intangible assets was $2.5 million and $4.7 million for the three and six months ended June 30, 2021, respectively, as compared to $6.2 million and $12.3 million for the three and six months ended June 30, 2020, respectively. The following table presents the estimated amortization expense based on our amortizing intangible assets as of June 30, 2021 (in millions):
Years ending December 31, |
2021 (excluding the six months ended June 30, 2021) | $ | 4.3 |
2022 | 6.9 |
2023 | 5.0 |
2024 | 4.5 |
2025 | 3.9 |
Thereafter | 2.1 |
Total | $ | 26.7 |

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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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