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Goodwill and Other Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2021
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 Orthopedics

 

 

EMEA

 

 

Asia Pacific

 

 

Americas Spine and Global Dental

 

 

Immaterial

Product Category

Operating

Segments

 

 

Total

 

Balance at January 1, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

$

7,699.8

 

 

$

1,316.8

 

 

$

507.4

 

 

$

-

 

 

$

1,729.3

 

 

$

11,253.3

 

Accumulated impairment losses

 

 

-

 

 

 

(567.0

)

 

 

-

 

 

 

-

 

 

 

(1,086.6

)

 

 

(1,653.6

)

 

 

 

7,699.8

 

 

 

749.8

 

 

 

507.4

 

 

 

-

 

 

 

642.7

 

 

 

9,599.7

 

Goodwill reportable segment change

 

 

1,661.3

 

 

 

17.0

 

 

 

51.0

 

 

 

-

 

 

 

(1,729.3

)

 

 

-

 

Accumulated impairment losses reportable segment change

 

 

(1,086.6

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

1,086.6

 

 

 

-

 

Other acquisitions

 

 

142.4

 

 

 

10.9

 

 

 

8.9

 

 

 

-

 

 

 

-

 

 

 

162.2

 

Currency translation

 

 

80.2

 

 

 

18.2

 

 

 

13.5

 

 

 

-

 

 

 

-

 

 

 

111.9

 

Impairment

 

 

(142.0

)

 

 

(470.0

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(612.0

)

Balance at December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

9,583.7

 

 

 

1,362.9

 

 

 

580.8

 

 

 

-

 

 

 

-

 

 

 

11,527.4

 

Accumulated impairment losses

 

 

(1,228.6

)

 

 

(1,037.0

)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(2,265.6

)

 

 

 

8,355.1

 

 

 

325.9

 

 

 

580.8

 

 

 

-

 

 

 

-

 

 

 

9,261.8

 

Goodwill reportable segment change

 

 

(1,491.3

)

 

 

-

 

 

 

-

 

 

 

1,491.3

 

 

 

-

 

 

 

-

 

Accumulated impairment losses reportable segment change

 

 

1,220.9

 

 

 

-

 

 

 

-

 

 

 

(1,220.9

)

 

 

-

 

 

 

-

 

Purchase accounting adjustments

 

 

15.4

 

 

 

5.2

 

 

 

2.3

 

 

 

-

 

 

 

-

 

 

 

22.9

 

Other acquisitions

 

 

2.4

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

2.4

 

Currency translation

 

 

(64.4

)

 

 

(13.8

)

 

 

(14.1

)

 

 

(2.6

)

 

 

-

 

 

 

(94.9

)

Balance at December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Goodwill

 

 

8,045.8

 

 

 

1,354.3

 

 

 

569.0

 

 

 

1,488.7

 

 

 

-

 

 

 

11,457.8

 

Accumulated impairment losses

 

 

(7.7

)

 

 

(1,037.0

)

 

 

-

 

 

 

(1,220.9

)

 

 

-

 

 

 

(2,265.6

)

 

 

$

8,038.1

 

 

$

317.3

 

 

$

569.0

 

 

$

267.8

 

 

$

-

 

 

$

9,192.2

 
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, 2021:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,804.6

 

 

$

383.3

 

 

$

665.3

 

 

$

5,489.1

 

 

$

-

 

 

$

192.0

 

 

$

10,534.3

 

Accumulated amortization

 

 

(1,946.9

)

 

 

(231.6

)

 

 

(286.9

)

 

 

(2,111.1

)

 

 

-

 

 

 

(128.0

)

 

 

(4,704.5

)

Intangible assets not subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

457.0

 

 

 

-

 

 

 

13.0

 

 

 

-

 

 

 

470.0

 

Total identifiable intangible assets

 

$

1,857.7

 

 

$

151.7

 

 

$

835.4

 

 

$

3,378.0

 

 

$

13.0

 

 

$

64.0

 

 

$

6,299.8

 

As of December 31, 2020:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Intangible assets subject to amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

3,902.0

 

 

$

383.3

 

 

$

677.0

 

 

$

5,589.7

 

 

$

-

 

 

$

152.4

 

 

$

10,704.4

 

Accumulated amortization

 

 

(1,746.2

)

 

 

(211.6

)

 

 

(251.5

)

 

 

(1,820.9

)

 

 

-

 

 

 

(110.9

)

 

 

(4,141.1

)

Intangible assets not subject to

   amortization:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

 

-

 

 

 

-

 

 

 

462.7

 

 

 

-

 

 

 

29.5

 

 

 

-

 

 

 

492.2

 

Total identifiable intangible assets

 

$

2,155.8

 

 

$

171.7

 

 

$

888.2

 

 

$

3,768.8

 

 

$

29.5

 

 

$

41.5

 

 

$

7,055.5

 
Estimated Annual Amortization Expense Based on Intangible Assets Recognized

Estimated annual amortization expense based upon intangible assets recognized as of December 31, 2021 for the years ending December 31, 2022 through 2026 is (in millions):

 

For the Years Ending December 31,

 

 

 

 

2022

 

$

602.6

 

2023

 

 

595.6

 

2024

 

 

584.4

 

2025

 

 

535.1

 

2026

 

 

480.9