GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]


NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

Changes in the carrying amount of goodwill by reportable segment were as follows:


In millions
	North America		International		Total
Balance as of December 31, 2020	$	2,448.8	$	370.5	$	2,819.3

Changes due to foreign currency fluctuations	—		(5.1)		(5.1)
Balance as of June 30, 2021	$	2,448.8	$	365.4	$	2,814.2

Intangible Assets

Intangible assets were as follows:


In millions
	June 30, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Value		Gross Carrying Amount		Accumulated Amortization		Net Value
Amortizable intangibles:
Customer relationships	$	1,313.7	$	687.2	$	626.5	$	1,314.9	$	630.2	$	684.7
Covenants not-to-compete	3.5		3.2		0.3		3.5		3.0		0.5
Tradenames	3.6		1.3		2.3		3.6		1.3		2.3
Operating permits	13.6		8.8		4.8		11.5		6.5		5.0
Other	0.6		0.6		—		0.6		0.6		—
Indefinite lived intangibles:
Operating permits	77.0		—		77.0		79.6		—		79.6
Tradenames	316.3		—		316.3		315.3		—		315.3
Total	$	1,728.3	$	701.1	$	1,027.2	$	1,729.0	$	641.6	$	1,087.4

Changes in the carrying amount of intangible assets were as follows:


In millions
	Total
Balance as of December 31, 2020	$	1,087.4


Amortization during the period	(59.9)
Changes due to foreign currency fluctuations	(0.3)
Balance as of June 30, 2021	$	1,027.2

The estimated amortization expense for each of the next five years (based upon exchange rates at June 30, 2021) is as follows for the years ending December 31:


In millions
2021 (remainder)	$	58.5
2022	115.8
2023	111.9
2024	110.6
2025	90.1