Goodwill and Other Intangible Assets

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Note 6: Goodwill and Other Intangible Assets

The following table summarizes the changes in the carrying amount of goodwill for the nine months ended September 30, 2020 (in millions):


	Americas		EMEA		APAC		Total
Balance as of December 31, 2019	$	1,417.1	$	282.2	$	269.8	$	1,969.1
Acquisitions	83.4		26.5		—		109.9
Disposals	—		—		(25.2)		(25.2)
Measurement period adjustments	(0.4)		0.4		—		—
Effect of movements in exchange rates and other	(1.5)		2.2		5.0		5.7
Balance as of September 30, 2020	$	1,498.6	$	311.3	$	249.6	$	2,059.5

Portions of goodwill are denominated in currencies other than the U.S. dollar, therefore a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates.

There was no impairment of goodwill and other intangible assets for the three and nine months ended September 30, 2020 and 2019, respectively.

The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions):


		As of September 30, 2020
	Useful Life (in years)	Gross Value		Accumulated Amortization		Net Value
C&W trade name	Indefinite	$	546.0	$	—	$	546.0
Customer relationships	1 - 15	1,356.9		(919.8)		437.1
Other intangible assets	2 - 13	17.1		(8.4)		8.7
Total intangible assets		$	1,920.0	$	(928.2)	$	991.8

		As of December 31, 2019
	Useful Life (in years)	Gross Value		Accumulated Amortization		Net Value
C&W trade name	Indefinite	$	546.0	$	—	$	546.0
Customer relationships	1 - 15	1,333.1		(827.5)		505.6
Other intangible assets	2 - 13	17.2		(6.2)		11.0
Total intangible assets		$	1,896.3	$	(833.7)	$	1,062.6

Amortization expense was $36.7 million and $47.3 million for the three months ended September 30, 2020 and 2019, respectively, and $124.6 million and $142.6 million for the nine months ended September 30, 2020 and 2019, respectively.