Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill

For the years ended December 31, 2019 and 2018, the changes in the book value of goodwill by segment were as follows:

(in millions)	U.S. Media		Other			Total
As of December 31, 2017	$	2,054.0	$	74.0		$	2,128.0
Currency translation adjustments	—		(5.4		)	(5.4		)
Impairment	—		(42.9		)	(42.9		)
As of December 31, 2018	2,054.0		25.7			2,079.7
Currency translation adjustments	—		3.4			3.4
As of December 31, 2019	$	2,054.0	$	29.1		$	2,083.1

Schedule of Finite-Lived Intangible Assets

Our identifiable intangible assets consist of the following:

(in millions)	Gross		Accumulated Amortization			Net
As of December 31, 2019:
Permits and leasehold agreements	$	1,153.3	$	(735.7	)	$	417.6
Franchise agreements	497.4		(371.1		)	126.3
Other intangible assets	47.1		(40.1		)	7.0
Total intangible assets	$	1,697.8	$	(1,146.9	)	$	550.9
As of December 31, 2018:
Permits and leasehold agreements(a)	$	1,107.4	$	(697.6	)	$	409.8
Franchise agreements	470.7		(357.1		)	113.6
Other intangible assets(a)	46.9		(33.1		)	13.8
Total intangible assets	$	1,625.0	$	(1,087.8	)	$	537.2

(a) Includes additions associated with the Transaction (as defined below, see Note 11. Equity and Note 14. Acquisitions to the Consolidated Financial Statements).

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense

We expect our aggregate annual amortization expense for intangible assets, before considering the impact of future direct lease acquisition costs, for each of the years 2020 through 2024, to be as follows:

(in millions)	2020		2021		2022		2023		2024
Amortization expense	$	58.7	$	56.8	$	51.5	$	49.7	$	47.4