Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]



	U.S.			Canada		Europe		International		Consolidated
Changes in Goodwill:				(In millions)
Balance at December 31, 2016	$	6,415.6		$	567.6	$	1,260.5	$	6.4	$	8,250.1
Adjustments to preliminary purchase price allocation⁽¹⁾	(92.1		)	—		—		—		(92.1		)
Foreign currency translation	—			44.1		144.5		0.3		188.9
Balance at September 30, 2017	$	6,323.5		$	611.7	$	1,405.0	$	6.7	$	8,346.9

(1)

During the nine months ended September 30, 2017, we recorded adjustments to our preliminary purchase price allocation. Separately, early in the fourth quarter, and prior to the completion of the one year measurement period, we completed the allocation of goodwill to our reporting units resulting from synergies, with the goodwill predominantly assigned to the U.S. reporting unit, and a portion allocated to the Canada and Europe reporting units. Refer to Note 4, "Acquisition and Investments" for further details.

Schedule of intangible assets excluding goodwill

The following table presents details of our intangible assets, other than goodwill, as of September 30, 2017:



	Useful life	Gross		Accumulated amortization			Net
	(Years)	(In millions)
Intangible assets subject to amortization:
Brands	10 - 50	$	5,200.1	$	(464.9	)	$	4,735.2
License agreements and distribution rights	15 - 28	236.4		(102.3		)	134.1
Other	2 - 40	141.4		(38.4		)	103.0
Intangible assets not subject to amortization:
Brands	Indefinite	8,194.9		—			8,194.9
Distribution networks	Indefinite	811.1		—			811.1
Other	Indefinite	337.5		—			337.5
Total		$	14,921.4	$	(605.6	)	$	14,315.8

The following table presents details of our intangible assets, other than goodwill, as of December 31, 2016:



	Useful life	Gross		Accumulated amortization			Net
	(Years)	(In millions)
Intangible assets subject to amortization:
Brands	10 - 50	$	4,876.3	$	(288.2	)	$	4,588.1
License agreements and distribution rights	15 - 28	225.9		(89.4		)	136.5
Other	2 - 40	129.3		(26.4		)	102.9
Intangible assets not subject to amortization:
Brands	Indefinite	8,114.2		—			8,114.2
Distribution networks	Indefinite	752.6		—			752.6
Other	Indefinite	337.6		—			337.6
Total		$	14,435.9	$	(404.0	)	$	14,031.9

Schedule of future amortization expense

Based on foreign exchange rates as of September 30, 2017, the estimated future amortization expense of intangible assets is as follows:



Fiscal year	Amount
	(In millions)
2017 - remaining	$	55.9
2018	$	222.9
2019	$	222.0
2020	$	221.0
2021	$	215.5