Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Changes in Carrying Amount of Goodwill Related to Continuing Operations

The following table summarizes the changes in the carrying amount of goodwill related to continuing operations (in millions):

	Americas			EMEA			Asia Pacific			Total
Balance at January 1, 2021
Goodwill	$	8,089.1		$	1,362.9		$	575.8		$	10,027.8
Accumulated impairment losses		(7.7	)		(1,037.0	)		-			(1,044.7	)
		8,081.4			325.9			575.8			8,983.1
Purchase accounting adjustments		15.4			5.2			2.3			22.9
Other acquisitions		2.4			-			-			2.4
Currency translation		(61.1	)		(13.8	)		(14.1	)		(89.0	)
Balance at December 31, 2021
Goodwill		8,045.8			1,354.3			564.0			9,964.1
Accumulated impairment losses		(7.7	)		(1,037.0	)		-			(1,044.7	)
		8,038.1			317.3			564.0			8,919.4
Purchase accounting adjustments		0.9			-			-			0.9
Other acquisitions		48.3			-			-			48.3
Currency translation		(51.7	)		(27.5	)		(19.4	)		(98.6	)
Impairment		-			(289.8	)		-			(289.8	)
Balance at December 31, 2022
Goodwill		8,043.3			1,326.8			544.6			9,914.7
Accumulated impairment losses		(7.7	)		(1,326.8	)		-			(1,334.5	)
	$	8,035.6		$	-		$	544.6		$	8,580.2

Components of Identifiable Intangible Assets Related to Continuing Operations

The components of identifiable intangible assets related to continuing operations were as follows (in millions):

	Technology			Intellectual Property Rights			Trademarks and Trade Names			Customer Relationships			IPR&D		Other			Total
As of December 31, 2022:
Intangible assets subject to amortization:
Gross carrying amount	$	2,954.3		$	388.5		$	518.0		$	5,073.1		$	-	$	174.0		$	9,107.9
Accumulated amortization		(1,700.2	)		(250.8	)		(258.7	)		(2,198.8	)		-		(94.7	)		(4,503.2	)
Intangible assets not subject to    amortization:
Gross carrying amount		-			-			452.1			-			7.0		-			459.1
Total identifiable intangible assets	$	1,254.1		$	137.7		$	711.4		$	2,874.3		$	7.0	$	79.3		$	5,063.8
As of December 31, 2021:
Intangible assets subject to amortization:
Gross carrying amount	$	2,930.7		$	381.9		$	522.1		$	5,109.1		$	-	$	136.6		$	9,080.4
Accumulated amortization		(1,537.1	)		(230.2	)		(230.7	)		(1,939.5	)		-		(79.3	)		(4,016.8	)
Intangible assets not subject to    amortization:
Gross carrying amount		-			-			457.0			-			13.0		-			470.0
Total identifiable intangible assets	$	1,393.6		$	151.7		$	748.4		$	3,169.6		$	13.0	$	57.3		$	5,533.6

Estimated Annual Amortization Expense Based on Intangible Assets Recognized

Estimated annual amortization expense based upon intangible assets recognized as of December 31, 2022 for the years ending December 31, 2023 through 2027 is (in millions):

For the Years Ending December 31,
2023	$	525.0
2024		516.3
2025		511.3
2026		496.1
2027		482.2