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GOODWILL AND OTHER INTANGIBLE ASSETS
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER INTANGIBLE ASSETS GOODWILL AND OTHER INTANGIBLE ASSETS
The changes in the carrying value of goodwill for each of the Company’s business segments were as follows:
 
 
Property
 
Services
 
Total
 
 
U.S.
 
Asia
 
Africa
 
Europe
 
Latin America
 
Balance as of December 31, 2017
 
$
3,379.2

 
$
1,095.0

 
$
130.6

 
$
274.3

 
$
757.3

 
$
2.0

 
$
5,638.4

Additions and adjustments (1)
 
3.3

 
44.5

 
—

 
—

 
0.4

 
—

 
48.2

Effect of foreign currency translation
 
—

 
(94.0
)
 
(11.3
)
 
(12.3
)
 
(67.1
)
 
—

 
(184.7
)
Balance as of December 31, 2018
 
$
3,382.5

 
$
1,045.5

 
$
119.3

 
$
262.0

 
$
690.6

 
$
2.0

 
$
5,501.9

Additions and adjustments (2)
 
32.8

 
—

 
670.0

 
—

 
—

 
—

 
702.8

Effect of foreign currency translation
 
—

 
(23.7
)
 
0.9

 
(5.8
)
 
2.2

 
—

 
(26.4
)
Balance as of December 31, 2019
 
$
3,415.3

 
$
1,021.8

 
$
790.2

 
$
256.2

 
$
692.8

 
$
2.0

 
$
6,178.3


_______________
(1)
Additions consist of $47.8 million resulting from 2018 acquisitions and $0.4 million from revisions to prior-year acquisitions due to measurement period adjustments.
(2)
Additions consist of $704.3 million resulting from 2019 acquisitions offset by $1.5 million from revisions to prior-year acquisitions due to measurement period adjustments.

The Company’s other intangible assets subject to amortization consisted of the following:
 
 
 
As of December 31, 2019
 
As of December 31, 2018
 
Estimated Useful
Lives (years)
 
Gross
Carrying
Value
 
Accumulated
Amortization
 
Net Book
Value
 
Gross
Carrying
Value
 
Accumulated
Amortization
 
Net Book
Value
Acquired network location intangibles (1)
Up to 20
 
$
5,150.8

 
$
(1,920.4
)
 
$
3,230.4

 
$
4,780.3

 
$
(1,704.9
)
 
$
3,075.4

Acquired tenant-related intangibles
Up to 20
 
12,674.1

 
(3,674.6
)
 
8,999.5

 
11,156.5

 
(3,147.2
)
 
8,009.3

Acquired licenses and other intangibles
3-20
 
106.7

 
(18.2
)
 
88.5

 
104.1

 
(14.5
)
 
89.6

Total other intangible assets
 
 
$
17,931.6

 
$
(5,613.2
)
 
$
12,318.4

 
$
16,040.9

 
$
(4,866.6
)
 
$
11,174.3

_______________
(1)
Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease, taking into consideration lease renewal options and residual value or up to 20 years, as the Company considers these intangibles to be directly related to the tower assets.
The acquired network location intangibles represent the value to the Company of the incremental revenue growth that could potentially be obtained from leasing the excess capacity on acquired communications sites. The acquired tenant-related intangibles typically represent the value to the Company of tenant contracts and relationships in place at the time of an acquisition or similar transaction, including assumptions regarding estimated renewals.
The Company amortizes its acquired network location intangibles and tenant-related intangibles on a straight-line basis over their estimated useful lives. As of December 31, 2019, the remaining weighted average amortization period of the Company’s intangible assets was 15 years. Amortization of intangible assets for the years ended December 31, 2019, 2018 and 2017 was $791.3 million, $1,144.1 million and $785.9 million, respectively. Amortization expense decreased for the year ended December 31, 2019 because in 2018, the Company entered into agreements with one of its tenants in India, Tata Teleservices Limited (“Tata Teleservices”) and related entities (collectively, “Tata”), for a settlement and release of certain contractual lease obligations of Tata Teleservices. As a result, the Company recorded $327.5 million of accelerated amortization related to the Tata tenant relationship in 2018, which was subsequently retired.
Based on current exchange rates, the Company expects to record amortization expense as follows over the next five years:
Fiscal Year
 
Amount
2020
 
$
885.7

2021
 
860.1

2022
 
856.0

2023
 
852.4

2024
 
838.1