Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

GOODWILL AND OTHER INTANGIBLE ASSETS, NET

Goodwill

A summary of the activity and balances in goodwill accounts by reporting segment follows:

	Balance as of December 31, 2020		Acquisitions		Divestitures		Adjustments to Acquisitions		Balance as of December 31, 2021
Group 1	$	6,404.9	$	162.6	$	—	$	(17.8)	$	6,549.7
Group 2	5,641.5		357.1		—		(4.4)		5,994.2
Corporate entities and other	—		282.1		—		—		282.1
Total	$	12,046.4	$	801.8	$	—	$	(22.2)	$	12,826.0

 

	Balance as of December 31, 2019		Acquisitions		Divestitures		Adjustments to Acquisitions		Balance as of December 31, 2020
Group 1	$	6,235.6	$	171.7	$	—	$	(2.4)	$	6,404.9
Group 2	5,397.8		258.7		(19.0)		4.0		5,641.5
Corporate entities and other	—		—		—		—		—
Total	$	11,633.4	$	430.4	$	(19.0)	$	1.6	$	12,046.4

Adjustments to acquisitions during the year ended December 31, 2021 primarily related to changes in our valuation of customer relationship intangible assets and fixed assets as a result of obtaining new information regarding certain acquisitions that closed in December 2020. Adjustments to acquisitions during the year ended December 31, 2020 primarily related to working capital and fixed assets.

Goodwill by reporting segment as of December 31, 2019 reflects the transfer of all Environmental Solutions assets from Group 2 to Corporate entities and other.

Other Intangible Assets, Net

Other intangible assets, net, include values assigned to customer relationships, non-compete agreements and trade names, and are amortized over periods ranging from 1 to 15 years. A summary of the activity and balances by intangible asset type follows:

	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2021
	Balance as of December 31, 2020		Acquisitions		Adjustments and Other		Balance as of December 31, 2021		Balance as of December 31, 2020		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2021
Customer relationships	$	788.1	$	92.3	$	18.0	$	898.4	$	(639.5)	$	(27.3)	$	—	$	(666.8)	$	231.6
Non-compete agreements	51.4		9.2		(0.2)		60.4		(39.1)		(5.5)		—		(44.6)		15.8
Other intangible assets	57.5		0.5		—		58.0		(45.3)		(0.6)		—		(45.9)		12.1
Total	$	897.0	$	102.0	$	17.8	$	1,016.8	$	(723.9)	$	(33.4)	$	—	$	(757.3)	$	259.5

	Gross Intangible Assets								Accumulated Amortization								Other Intangible Assets, Net as of December 31, 2020
	Balance as of December 31, 2019		Acquisitions		Adjustments and Other		Balance as of December 31, 2020		Balance as of December 31, 2019		Additions Charged to Expense		Adjustments and Other		Balance as of December 31, 2020
Customer relationships	$	733.8	$	54.4	$	(0.1)	$	788.1	$	(623.0)	$	(16.6)	$	0.1	$	(639.5)	$	148.6
Non-compete agreements	45.3		6.3		(0.2)		51.4		(35.3)		(3.9)		0.1		(39.1)		12.3
Other intangible assets	58.2		—		(0.7)		57.5		(45.1)		(0.6)		0.4		(45.3)		12.2
Total	$	837.3	$	60.7	$	(1.0)	$	897.0	$	(703.4)	$	(21.1)	$	0.6	$	(723.9)	$	173.1

Based on the amortizable intangible assets recorded in the consolidated balance sheet as of December 31, 2021, amortization expense for each of the next five years is estimated as follows:

2022	$	40.0
2023	$	38.6
2024	$	36.2
2025	$	32.9
2026	$	29.7