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Goodwill
9 Months Ended
Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill Goodwill
 
Goodwill arises because the purchase price paid for our acquisitions reflects numerous factors, including the strategic fit and expected synergies these acquisitions bring to our existing operations. Goodwill is initially recorded at fair value. We monitor goodwill allocated to each reporting unit for interim impairment indicators and we test at least annually for impairment.
The following table provides the components of and changes in the carrying amount of goodwill for the nine months ended September 30, 2020 (in millions):
AviationLandTotal
Balance as of December 31, 2019$323.6 $520.1 $843.7 
Additions79.1 — 79.1 
Sale of business (Note 3)(7.0)(64.6)(71.6)
Foreign exchange adjustments0.9 (3.8)(2.9)
Balance as of September 30, 2020$396.5 $451.7 $848.2