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Amortizable Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets

Amortizable intangible assets at June 30, 2022 and December 31, 2021 consisted of the following:

 

 

 

June 30, 2022

 

 

December 31, 2021

 

(in millions)

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life
(years)
(1)

 

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life
(years)
(1)

 

Purchased customer accounts

 

$

2,439.5

 

 

$

(1,298.9

)

 

$

1,140.6

 

 

 

14.7

 

 

$

2,311.6

 

 

$

(1,235.3

)

 

$

1,076.3

 

 

 

14.9

 

Non-compete agreements

 

 

38.3

 

 

 

(33.2

)

 

 

5.1

 

 

 

4.5

 

 

 

37.6

 

 

 

(32.4

)

 

 

5.2

 

 

 

4.5

 

Total

 

$

2,477.8

 

 

$

(1,332.1

)

 

$

1,145.7

 

 

 

 

 

$

2,349.2

 

 

$

(1,267.7

)

 

$

1,081.5

 

 

 

 

 

(1)
Weighted average life calculated as of the date of acquisition.