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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

The following table summarizes the changes in the carrying amount of goodwill (in millions):

 

 

 

Americas

 

 

EMEA

 

 

Asia Pacific

 

 

Immaterial

Product Category

Operating

Segments

 

 

Total

 

Balance at January 1, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

7,634.5

 

 

$

1,263.7

 

 

$

487.3

 

 

$

1,631.4

 

 

$

11,016.9

 

Accumulated impairment losses

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(373.0

)

 

 

(373.0

)

 

 

 

7,634.5

 

 

 

1,263.7

 

 

 

487.3

 

 

 

1,258.4

 

 

 

10,643.9

 

LDR purchase accounting

 

 

-

 

 

 

-

 

 

 

-

 

 

 

24.5

 

 

 

24.5

 

Other acquisitions

 

 

(0.5

)

 

 

(33.2

)

 

 

-

 

 

 

27.6

 

 

 

(6.1

)

Currency translation

 

 

90.8

 

 

 

149.3

 

 

 

13.2

 

 

 

57.5

 

 

 

310.8

 

Impairment

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(304.7

)

 

 

(304.7

)

Balance at December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

7,724.8

 

 

 

1,379.8

 

 

 

500.5

 

 

 

1,741.0

 

 

 

11,346.1

 

Accumulated impairment losses

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(677.7

)

 

 

(677.7

)

 

 

 

7,724.8

 

 

 

1,379.8

 

 

 

500.5

 

 

 

1,063.3

 

 

 

10,668.4

 

Currency translation

 

 

(12.4

)

 

 

(57.6

)

 

 

6.7

 

 

 

(34.8

)

 

 

(98.1

)

Impairment

 

 

-

 

 

 

(567.0

)

 

 

-

 

 

 

(408.9

)

 

 

(975.9

)

Balance at December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

7,712.4

 

 

 

1,322.2

 

 

 

507.2

 

 

 

1,706.2

 

 

 

11,248.0

 

Accumulated impairment losses

 

 

-

 

 

 

(567.0

)

 

 

-

 

 

 

(1,086.6

)

 

 

(1,653.6

)

 

 

$

7,712.4

 

 

$

755.2

 

 

$

507.2

 

 

$

619.6

 

 

$

9,594.4

 
Components of Identifiable Intangible Assets

The components of identifiable intangible assets were as follows (in millions):

 

 

 

Technology

 

 

Intellectual

Property

Rights

 

 

Trademarks

and Trade

Names

 

 

Customer

Relationships

 

 

IPR&D

 

 

Other

 

 

Total

 

As of December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,638.5

 

 

$

180.7

 

 

$

664.2

 

 

$

5,384.4

 

 

$

-

 

 

$

128.3

 

 

$

9,996.1

 

Accumulated amortization

 

 

(1,282.7

)

 

 

(177.6

)

 

 

(169.3

)

 

 

(1,194.5

)

 

 

-

 

 

 

(80.0

)

 

 

(2,904.1

)

Intangible assets not subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

457.1

 

 

 

-

 

 

 

135.5

 

 

 

-

 

 

 

592.6

 

Total identifiable intangible assets

 

$

2,355.8

 

 

$

3.1

 

 

$

952.0

 

 

$

4,189.9

 

 

$

135.5

 

 

$

48.3

 

 

$

7,684.6

 

As of December 31, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,669.8

 

 

$

180.7

 

 

$

671.1

 

 

$

5,409.5

 

 

$

-

 

 

$

160.0

 

 

$

10,091.1

 

Accumulated amortization

 

 

(1,061.4

)

 

 

(176.1

)

 

 

(132.1

)

 

 

(890.4

)

 

 

-

 

 

 

(84.1

)

 

 

(2,344.1

)

Intangible assets not subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

460.0

 

 

 

-

 

 

 

146.4

 

 

 

-

 

 

 

606.4

 

Total identifiable intangible assets

 

$

2,608.4

 

 

$

4.6

 

 

$

999.0

 

 

$

4,519.1

 

 

$

146.4

 

 

$

75.9

 

 

$

8,353.4

 
Estimated Annual Amortization Expense Based on Intangible Assets Recognized

Estimated annual amortization expense based upon intangible assets recognized as of December 31, 2018 for the years ending December 31, 2019 through 2023 is (in millions):

 

For the Years Ending December 31,

 

 

 

 

2019

 

$

604.5

 

2020

 

 

598.3

 

2021

 

 

595.0

 

2022

 

 

589.3

 

2023

 

 

584.0