XML 40 R24.htm IDEA: XBRL DOCUMENT v3.23.1
Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in goodwill
The changes in the gross carrying value of goodwill and accumulated impairment losses are presented in the table below by segment.
Americas
EMEA&APAC(1)
Consolidated
(In millions)
Gross carrying value of goodwill$6,790.4 $1,387.6 $8,178.0 
Accumulated impairment losses(1,498.5)(1,387.6)(2,886.1)
Balance as of December 31, 2022$5,291.9 $— $5,291.9 
Foreign currency translation, net0.5 — 0.5 
Gross carrying value of goodwill6,792.8 1,415.6 8,208.4 
Accumulated impairment losses(1,500.4)(1,415.6)(2,916.0)
Balance as of March 31, 2023$5,292.4 $— $5,292.4 
(1)The EMEA&APAC goodwill balance was fully impaired during the year ended December 31, 2020. Subsequent changes in the gross carrying value of goodwill and accumulated impairment loss balances are due to fluctuations in foreign exchange rates, which are presented net in the table above.
Schedule of finite-lived intangible assets The following table presents details of our intangible assets, other than goodwill, as of March 31, 2023:
Useful lifeGrossAccumulated
amortization
Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
 10 - 50
$4,885.1 $(1,471.7)$3,413.4 
License agreements and distribution rights
 10 - 20
202.7 (110.3)92.4 
Other
 5 - 40
84.7 (24.1)60.6 
Intangible assets not subject to amortization    
Brands Indefinite8,176.8 — 8,176.8 
Distribution networks Indefinite748.5 — 748.5 
Other Indefinite307.6 — 307.6 
Total $14,405.4 $(1,606.1)$12,799.3 
The following table presents details of our intangible assets, other than goodwill, as of December 31, 2022:
Useful lifeGrossAccumulated
amortization
Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
10 - 50
$4,861.1 $(1,416.7)$3,444.4 
License agreements and distribution rights
15 - 20
200.0 (108.0)92.0 
Other
5 - 40
88.8 (27.7)61.1 
Intangible assets not subject to amortization    
BrandsIndefinite8,148.6 — 8,148.6 
Distribution networksIndefinite746.4 — 746.4 
OtherIndefinite307.6 — 307.6 
Total $14,352.5 $(1,552.4)$12,800.1 
Schedule of indefinite-lived intangible assets The following table presents details of our intangible assets, other than goodwill, as of March 31, 2023:
Useful lifeGrossAccumulated
amortization
Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
 10 - 50
$4,885.1 $(1,471.7)$3,413.4 
License agreements and distribution rights
 10 - 20
202.7 (110.3)92.4 
Other
 5 - 40
84.7 (24.1)60.6 
Intangible assets not subject to amortization    
Brands Indefinite8,176.8 — 8,176.8 
Distribution networks Indefinite748.5 — 748.5 
Other Indefinite307.6 — 307.6 
Total $14,405.4 $(1,606.1)$12,799.3 
The following table presents details of our intangible assets, other than goodwill, as of December 31, 2022:
Useful lifeGrossAccumulated
amortization
Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
10 - 50
$4,861.1 $(1,416.7)$3,444.4 
License agreements and distribution rights
15 - 20
200.0 (108.0)92.0 
Other
5 - 40
88.8 (27.7)61.1 
Intangible assets not subject to amortization    
BrandsIndefinite8,148.6 — 8,148.6 
Distribution networksIndefinite746.4 — 746.4 
OtherIndefinite307.6 — 307.6 
Total $14,352.5 $(1,552.4)$12,800.1 
Schedule of future amortization expense
Based on foreign exchange rates as of March 31, 2023, the estimated future amortization expense of intangible assets is as follows:
Fiscal yearAmount
(In millions)
2023 - remaining$153.7 
2024$203.6 
2025$203.6 
2026$185.1 
2027$120.6