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GOODWILL AND OTHER INTANGIBLE ASSETS - NET
 12 Months Ended
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET
11.
GOODWILL AND INTANGIBLE ASSETS, NET

The Company’s goodwill was as follows for the periods presented:

 

 

 

U.S.
Operating
Segment

 

 

International
Operating
Segment

 

 

Total

 

Balance at December 31, 2021 (1)

 

$

1,182.9

 

 

$

65.9

 

 

$

1,248.8

 

Foreign currency translation adjustments

 

 

—

 

 

 

2.1

 

 

 

2.1

 

Balance at December 31, 2022 (1)

 

$

1,182.9

 

 

$

68.0

 

 

$

1,250.9

 

Disposition (2)

 

 

—

 

 

$

(4.2

)

 

 

(4.2

)

Foreign currency translation adjustments

 

 

—

 

 

 

4.3

 

 

 

4.3

 

Balance at December 31, 2023 (1)

 

$

1,182.9

 

 

$

68.1

 

 

$

1,251.0

 
(1)
Balances are presented net of accumulated impairment losses of $214.0 for the U.S. operating segment and $43.8 for the international operating segment.
(2)
Relates to the sale of the Company’s Ecuador subsidiary. See Note 8.

Intangible assets activity and balances consisted of the following for the periods indicated:

 

 

Balance at January 1, 2022

 

 

Additions

 

 

Amortization

 

 

Foreign Currency Translation Adjustments and Other (1)

 

 

Balance at December 31, 2022

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

81.7

 

 

$

—

 

 

$

—

 

 

$

(4.0

)

 

$

77.7

 

Accumulated amortization

 

 

(71.0

)

 

 

—

 

 

 

(2.4

)

 

 

0.2

 

 

 

(73.2

)

Total intangible assets with finite lives, net

 

$

10.7

 

 

$

—

 

 

$

(2.4

)

 

$

(3.8

)

 

$

4.5

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

300.1

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

300.1

 

Total intangible assets, net

 

$

310.8

 

 

$

—

 

 

$

(2.4

)

 

$

(3.8

)

 

$

304.6

 

 

 

 

Balance at January 1, 2023

 

 

Additions (2)

 

 

Disposals (3)

 

 

Amortization

 

 

Foreign Currency Translation Adjustments and Other (4)

 

 

Balance at December 31, 2023

 

Intangible assets with finite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying amount

 

$

77.7

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

0.1

 

 

$

77.8

 

Accumulated amortization

 

 

(73.2

)

 

 

—

 

 

 

—

 

 

 

(2.1

)

 

 

—

 

 

 

(75.3

)

Total intangible assets with finite lives, net

 

$

4.5

 

 

$

—

 

 

$

—

 

 

$

(2.1

)

 

$

0.1

 

 

$

2.5

 

Intangible assets with indefinite lives:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Tradename and other

 

 

300.1

 

 

 

0.4

 

 

 

(0.4

)

 

 

—

 

 

 

0.2

 

 

 

300.3

 

Total intangible assets, net

 

$

304.6

 

 

$

0.4

 

 

$

(0.4

)

 

$

(2.1

)

 

$

0.3

 

 

$

302.8

 
(1)
Includes foreign currency translation adjustments and an impairment recorded for a U.S. intangible asset during 2022. See Note 12 for discussion of impairment evaluations performed during the year ended December 31, 2022.
(2)
Amount represents licenses acquired to sell alcoholic beverages for certain locations.
(3)
Relates to the sale of the Company’s Ecuador subsidiary. See Note 8.
(4)
Includes foreign currency translation adjustments.

Estimated aggregate future amortization expense for intangible assets is as follows:

Year ended December 31, 2024

 

$

2.0

 

Year ended December 31, 2025

 

 

0.5

 

Year ended December 31, 2026

 

 

—

 

Year ended December 31, 2027

 

 

—

 

Year ended December 31, 2028

 

 

—

 

Total

 

$

2.5