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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in goodwill
 
U.S.
 
Canada
 
Europe
 
International
 
Consolidated
Changes in Goodwill:
 
 
(In millions)
As of December 31, 2017
$
5,928.5

 
$
932.1

 
$
1,538.0

 
$
6.9

 
$
8,405.5

Business acquisition(1)

 

 
9.8

 

 
9.8

Adjustments to preliminary purchase price allocation(2)

 
(2.9
)
 

 

 
(2.9
)
Foreign currency translation

 
(39.7
)
 
(39.6
)
 
(0.5
)
 
(79.8
)
As of June 30, 2018
$
5,928.5


$
889.5

 
$
1,508.2

 
$
6.4

 
$
8,332.6


(1)
During the first quarter of 2018, we completed the acquisition of Aspall Cyder Limited, an established premium cider business in the U.K. As part of the preliminary purchase price accounting in the first quarter of 2018, goodwill generated in conjunction with this acquisition has been recorded within our Europe segment, subject to normal purchase accounting adjustments.
(2)
During the second quarter of 2018, we recorded adjustments to the preliminary purchase price allocation related to our acquisition of Le Trou du Diable, which was completed in the fourth quarter of 2017.
Schedule of intangible assets excluding goodwill
The following table presents details of our intangible assets, other than goodwill, as of June 30, 2018:
 
Useful life
 
Gross
 
Accumulated
amortization
 
Net
 
(Years)
 
(In millions)
Intangible assets subject to amortization:
 
 
 
 
 
 
 
Brands
 10 - 50
 
$
5,089.2

 
$
(595.1
)
 
$
4,494.1

License agreements and distribution rights
 15 - 28
 
222.8

 
(95.0
)
 
127.8

Other
 2 - 40
 
132.5

 
(28.8
)
 
103.7

Intangible assets not subject to amortization:
 
 
 
 
 
 
 
Brands
 Indefinite
 
8,184.9

 

 
8,184.9

Distribution networks
 Indefinite
 
770.3

 

 
770.3

Other
 Indefinite
 
337.6

 

 
337.6

Total
 
 
$
14,737.3

 
$
(718.9
)
 
$
14,018.4


The following table presents details of our intangible assets, other than goodwill, as of December 31, 2017:
 
Useful life
 
Gross
 
Accumulated
amortization
 
Net
 
(Years)
 
(In millions)
Intangible assets subject to amortization:
 
 
 
 
 
 
 
Brands
10 - 50
 
$
5,215.3

 
$
(516.0
)
 
$
4,699.3

License agreements and distribution rights
15 - 28
 
236.3

 
(103.9
)
 
132.4

Other
2 - 40
 
148.3

 
(42.4
)
 
105.9

Intangible assets not subject to amortization:
 
 
 
 
 
 
 
Brands
Indefinite
 
8,216.6

 

 
8,216.6

Distribution networks
Indefinite
 
804.7

 

 
804.7

Other
Indefinite
 
337.6

 

 
337.6

Total
 
 
$
14,958.8

 
$
(662.3
)
 
$
14,296.5

Schedule of future amortization expense
Based on foreign exchange rates as of June 30, 2018, the estimated future amortization expense of intangible assets is as follows:
Fiscal year
 
Amount
 
 
(In millions)
2018 - remaining
 
$
111.5

2019
 
$
222.8

2020
 
$
221.8

2021
 
$
215.5

2022
 
$
210.9