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GOODWILL AND OTHER INTANGIBLES
12 Months Ended
Dec. 31, 2019
GOODWILL AND OTHER INTANGIBLES  
GOODWILL AND OTHER INTANGIBLES

(6) GOODWILL AND OTHER INTANGIBLES

The change in the carrying value of goodwill by segment follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Europe,

 

 

 

 

 

 

 

 

Middle East &

 

 

 

    

Americas

    

Asia Pacific

    

Africa

    

Total

Balance, December 31, 2017

 

$

356.4

 

$

53.1

 

$

186.6

 

$

596.1

Foreign currency translation

 

 

1.9

 

 

(2.5)

 

 

(10.5)

 

 

(11.1)

Measurement period adjustments (1)

 

 

9.0

 

 

0.3

 

 

3.0

 

 

12.3

Acquisitions (1) 

 

 

29.2

 

 

 —

 

 

7.5

 

 

36.7

Balance, December 31, 2018

 

$

396.5

 

$

50.9

 

$

186.6

 

$

634.0

Foreign currency translation and other

 

 

(25.0)

 

 

(0.6)

 

 

(2.6)

 

 

(28.2)

Balance, December 31, 2019

 

$

371.5

 

$

50.3

 

$

184.0

 

$

605.8


(1)

Represents measurement period adjustments related to the Geist and Energy Labs acquisitions. See note 2 for additional information.

The gross carrying amount and accumulated amortization of identifiable intangible assets by major class follow:

 

 

 

 

 

 

 

 

 

 

 

    

 

 

    

Accumulated

    

 

 

As of December 31, 2019

 

Gross

 

Amortization

 

Net

Customer relationships

 

$

1,099.2

 

$

(268.2)

 

$

831.0

Developed Technology

 

 

328.2

 

 

(105.4)

 

 

222.8

Capitalized software

 

 

103.3

 

 

(35.8)

 

 

67.5

Trademarks

 

 

38.6

 

 

(12.4)

 

 

26.2

Favorable operating leases

 

 

2.1

 

 

(2.1)

 

 

 —

Total finite-lived identifiable intangible assets

 

$

1,571.4

 

$

(423.9)

 

$

1,147.5

Indefinite-lived Trademarks

 

 

294.1

 

 

 —

 

 

294.1

Total Intangible Assets

 

$

1,865.5

 

$

(423.9)

 

$

1,441.6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated

 

 

 

As of December 31, 2018

 

Gross

 

Amortization

 

 Net

Customer relationships

 

$

1,102.0

 

$

(180.4)

 

$

921.6

Developed Technology

 

 

326.2

 

 

(70.5)

 

 

255.7

Capitalized software

 

 

81.6

 

 

(17.9)

 

 

63.7

Trademarks

 

 

38.6

 

 

(7.7)

 

 

30.9

Favorable operating leases

 

 

2.1

 

 

(1.8)

 

 

0.3

Backlog

 

 

139.2

 

 

(139.2)

 

 

 —

Total finite-lived identifiable intangible assets

 

$

1,689.7

 

$

(417.5)

 

$

1,272.2

Indefinite-lived Trademarks

 

 

292.0

 

 

 —

 

 

292.0

Total Intangible Assets

 

$

1,981.7

 

$

(417.5)

 

$

1,564.2

 

Total intangible asset amortization expense for the years ended December 31, 2019, 2018 and 2017, was $145.8,  $156.6,  $224.8, respectively.  Based on intangible asset balances as of December 31, 2019, expected amortization expense is $145.2 in 2020, $145.9 in 2021,  $137.9 in 2022, $133.2 in 2023, $133.0 in 2024.