Intangible Assets, net

9 Months Ended

Sep. 30, 2015

5. Intangible Assets, net

Intangible assets, net consisted of the following:

		September 30, 2015					December 31, 2014
	Weighted Average	Gross					Gross
	Amortizable	Carrying		Accumulated			Carrying		Accumulated
	Life in Years	Amount		Amortization			Amount		Amortization
		(in millions)
Intangible assets subject to amortization:
Covenants not to compete	4.4	$	1.4	$	(1.0	)	$	2.3	$	(1.7	)
Customer lists/relationships	14.2	685.8		(299.1		)	694.7		(249.3		)
Software – internal use	10.0	8.1		(7.7		)	8.1		(7.1		)
Other	5.3	6.4		(4.7		)	7.2		(4.5		)

		701.7		(312.5		)	712.3		(262.6		)
Intangible assets not subject to amortization:
Trade names		751.5		—			777.7		—

		$	1,453.2	$	(312.5	)	$	1,490.0	$	(262.6	)

We recognized amortization expense for intangible assets of $41.0 million and $42.3 million for the nine months ended September 30, 2015 and 2014, respectively. Foreign currency translation losses related to intangible assets, net, were approximately $11.0 million during the nine months ended September 30, 2015. Impairment losses of $21.2 million related to five of our trade names and $14.4 million related to two of our customer relationships were recognized during the three months and nine months ended September 30, 2015. See “Note 11 - Impairment of Long-Lived Assets” for further discussion of our impairment losses. No impairment losses were recognized during the nine months ended September 30, 2014.

The following is a summary of estimated aggregate amortization expense for the remaining three months of 2015 and each of the succeeding five years:

	(in millions)
2015	$	12.7
2016	49.5
2017	45.2
2018	40.9
2019	40.8
2020	40.8