Supplemental balance sheet information

3 Months Ended

Mar. 31, 2020

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Supplemental balance sheet information

14. Supplemental balance sheet information

Allowance for doubtful accounts

The allowance for doubtful accounts reflects the Company's current estimate of credit losses expected to be incurred over the life of the trade accounts receivables. Collectability of the trade accounts receivable balance is assessed on an ongoing basis and determined based on the delinquency of customer accounts, the financial condition of individual customers, past collections experience and future economic expectations. The change in the allowance for doubtful accounts is as follows:

(in millions)	Three months ended March 31, 2020
Beginning balance, January 1, 2020	$	12.9
Provision for credit losses	5.6
Write-offs	(0.5)
Recoveries	0.2
Foreign exchange	(0.8)
Ending balance, March 31, 2020	$	17.4

Property, plant and equipment, net

(in millions)	March 31, 2020		December 31, 2019
Property, plant and equipment, at cost	$	2,174.7	$	2,190.3
Less: accumulated depreciation	(1,054.0)		(1,037.9)
Property, plant and equipment, net	$	1,120.7	$	1,152.4

Goodwill

The following is a summary of the activity in goodwill by segment.

(in millions)	USA		EMEA		Canada		LATAM		Total
Balance, January 1, 2020	$	1,802.3	$	8.4	$	441.1	$	29.0	$	2,280.8
Purchase price adjustments	7.0		—		—		—		7.0
Other adjustments	—		—		—		(0.5)		(0.5)
Foreign exchange	—		(0.8)		(33.6)		(3.9)		(38.3)
Balance, March 31, 2020	$	1,809.3	$	7.6	$	407.5	$	24.6	$	2,249.0

Intangible assets, net

	March 31, 2020						December 31, 2019
(in millions)	Gross		Accumulated Amortization		Net		Gross		Accumulated Amortization		Net
Customer relationships	$	967.7	$	(680.0)	$	287.7	$	986.4	$	(680.8)	$	305.6
Other	179.4		(165.4)		14.0		182.0		(167.4)		14.6
Total intangible assets	$	1,147.1	$	(845.4)	$	301.7	$	1,168.4	$	(848.2)	$	320.2

Other intangible assets consist of intellectual property (mostly trademarks and trade names), producer relationships and contracts, non-compete agreements and exclusive distribution rights.

The estimated annual amortization expense in each of the next five years is as follows:

(in millions)
2020	$	57.0
2021	50.1
2022	45.0
2023	41.1
2024	31.9

Other accrued expenses

As of March 31, 2020, other accrued expenses that were greater than five percent of total current liabilities consisted of current tax liabilities of $91.4 million, comprised of income, VAT and local indirect taxes payable. As of December 31, 2019,

other accrued expenses that were greater than five percent of total current liabilities consisted of current tax liabilities of $87.1 million and customer prepayments and deposits of $81.5 million.