Goodwill, Long-Lived and Identifiable Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Goodwill Balances by Operating Segment

The following table shows our goodwill balances by operating segment that are aggregated into one reportable segment:

(in millions)	North America		Europe			Total
Gross carrying value at December 31, 2017 (Predecessor)	$	260.0	$	100.3		$	360.3
Currency translation	—		(4.6		)	(4.6		)
Gross carrying value at December 31, 2018 (Predecessor)	260.0		95.7			355.7
Currency translation	—		(2.5		)	(2.5		)
Gross carrying value at June 2, 2019 (Predecessor)	260.0		93.2			353.2
Fair value adjustment due to the Ranpak Business Combination	342.3		104.9			447.2
Additions to goodwill	0.7		—			0.7
Currency translation	—		0.9			0.9
Gross carrying value at December 31, 2019 (Successor)	$	343.0	$	105.8		$	448.8

Schedule of Finite-Lived Intangible Assets

The following table shows the remaining weighted-average useful life of our definite lived intangible assets as of December 31, 2019:

(in millions)	Remaining Weighted-Average Useful Life
Customer/distributor relationships	14.4
Patented/unpatented technology	10.6
Total identifiable assets, net with definite lives	13.3

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives: 

	Successor							Predecessor
	December 31, 2019							December 31, 2018
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Customer/distributor relationships	$	199.5	$	(7.9	)	$	191.6	$	259.1	$	(110.1	)	$	149.0
Patented/unpatented technology	164.5		(8.5		)	156.0		153.0		(64.5		)	88.5
In-process research and development	5.0		—			5.0		—		—			—
Total intangible assets with definite lives	369.0		(16.4		)	352.6		412.1		(174.6		)	237.5
Trademarks/tradenames with indefinite lives	106.0		—			106.0		56.2		—			56.2
Total identifiable intangible assets, net	$	475.1	$	(16.4	)	$	458.6	$	468.3	$	(174.6	)	$	293.7

Schedule of Indefinite-Lived Intangible Assets

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives: 

	Successor							Predecessor
	December 31, 2019							December 31, 2018
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net		Gross Carrying Amount		Accumulated Amortization			Net
Customer/distributor relationships	$	199.5	$	(7.9	)	$	191.6	$	259.1	$	(110.1	)	$	149.0
Patented/unpatented technology	164.5		(8.5		)	156.0		153.0		(64.5		)	88.5
In-process research and development	5.0		—			5.0		—		—			—
Total intangible assets with definite lives	369.0		(16.4		)	352.6		412.1		(174.6		)	237.5
Trademarks/tradenames with indefinite lives	106.0		—			106.0		56.2		—			56.2
Total identifiable intangible assets, net	$	475.1	$	(16.4	)	$	458.6	$	468.3	$	(174.6	)	$	293.7

Finite-lived Intangible Assets Amortization Expense

The following table shows the remaining estimated amortization expense for our finite intangible assets at December 31, 2019:

(in millions)
Year	Amount
2020	$	28.0
2021	28.0
2022	28.0
2023	28.0
2024	28.0
Thereafter	207.6