Goodwill and Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2020

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of changes in goodwill

	North America		Europe		Consolidated
Changes in Goodwill:	(In millions)
Balance as of December 31, 2019	$	6,146.6	$	1,484.8	$	7,631.4
Foreign currency translation	(5.4)		(1.9)		(7.3)
Balance as of September 30, 2020	$	6,141.2	$	1,482.9	$	7,624.1

Schedule of intangible assets excluding goodwill

The following table presents details of our intangible assets, other than goodwill, as of September 30, 2020:

	Useful life	Gross		Accumulated amortization		Net
	(Years)	(In millions)
Intangible assets subject to amortization:
Brands	10 - 50	$	5,011.2	$	(1,009.3)	$	4,001.9
License agreements and distribution rights	15 - 20	201.8		(94.1)		107.7
Other	3 - 40	124.4		(49.6)		74.8
Intangible assets not subject to amortization:
Brands	Indefinite	8,158.9		—		8,158.9
Distribution networks	Indefinite	759.5		—		759.5
Other	Indefinite	307.6		—		307.6
Total		$	14,563.4	$	(1,153.0)	$	13,410.4

The following table presents details of our intangible assets, other than goodwill, as of December 31, 2019:

	Useful life	Gross		Accumulated amortization		Net
	(Years)	(In millions)
Intangible assets subject to amortization:
Brands	10 - 50	$	5,036.3	$	(865.1)	$	4,171.2
License agreements and distribution rights	15 - 20	202.0		(90.6)		111.4
Other	3 - 40	124.0		(39.4)		84.6
Intangible assets not subject to amortization:
Brands	Indefinite	8,172.4		—		8,172.4
Distribution networks	Indefinite	778.8		—		778.8
Other	Indefinite	337.6		—		337.6
Total		$	14,651.1	$	(995.1)	$	13,656.0

Schedule of future amortization expense

Based on foreign exchange rates as of September 30, 2020, the estimated future amortization expense of intangible assets is as follows:

Fiscal year	Amount
	(In millions)
2020 - remaining	$	54.0
2021	$	215.3
2022	$	209.9
2023	$	208.8
2024	$	208.8