Goodwill and Identifiable Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible AssetsIn 2020, we used a combination of qualitative and quantitative factors to assess goodwill and identifiable intangible assets for impairment for all of our reporting units. As a result of performing these assessments, we determined that no impairment existed as of December 31, 2020 and, therefore, recorded no write-downs to any of our goodwill or identifiable intangible assets not subject to amortization.

Goodwill

The following table provides information regarding changes in goodwill (in millions):


	Aviation Segment		Land Segment		Total
As of December 31, 2018	$	322.9	$	529.7	$	852.7
Adjustment for sale of business	—		(13.3)		(13.3)
Foreign currency translation of non-USD functional currency subsidiary goodwill	0.7		3.6		4.3
As of December 31, 2019	323.6		520.1		843.7
2020 acquisitions	79.1		—		79.1
Adjustment for sale of business (Note 3)	(7.0)		(64.6)		(71.6)
Foreign currency translation of non-USD functional currency subsidiary goodwill	3.2		4.3		7.4
As of December 31, 2020	$	398.8	$	459.7	$	858.6

Identifiable Intangible Assets

The following table provides information about our identifiable intangible assets (in millions):


	As of December 31, 2020						As of December 31, 2019
	Gross Carrying Amount		Accumulated Amortization (1)		Net		Gross Carrying Amount		Accumulated Amortization (1)		Net
Intangible assets subject to amortization:
Customer relationships	$	392.1	$	236.5	$	155.6	$	382.0	$	226.5	$	155.5
Supplier agreements	31.9		18.0		13.9		39.0		19.8		19.2
Others	37.5		28.6		8.8		40.1		33.5		6.6
	461.5		283.2		178.3		461.1		279.8		181.3
Intangible assets not subject to amortization:
Trademark/trade name rights	24.5		—		24.5		40.4		—		40.4
	$	486.0	$	283.2	$	202.8	$	501.5	$	279.8	$	221.7

(1) Includes the impact of foreign exchange

Intangible amortization expense for 2020, 2019 and 2018 was $33.1 million, $32.9 million and $35.9 million, respectively.

The future estimated amortization of our identifiable intangible assets is as follows (in millions):


Year Ended December 31,
2021	$	30.0
2022	28.5
2023	20.8
2024	19.5
2025	18.3
Thereafter	61.3
	$	178.3