Intangible Assets, net

3 Months Ended

Mar. 31, 2020

Intangible Assets, net

Intangible Assets, net

Note 5. Intangible Assets, net

Intangible assets, net consisted of the following:

		March 31, 2020				December 31, 2019
	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	5.0	$	0.7	$	(0.4)	$	0.7	$	(0.4)
Customer lists/relationships	15.5		680.2		(445.4)		710.1		(438.1)
Software	10.0		8.1		(8.1)		8.1		(8.1)
Other	7.2		1.0		(0.9)		1.1		(0.9)
			690.0		(454.8)		720.0		(447.5)
Intangible assets not subject to amortization:
Trade names			692.8		—		758.6		—
		$	1,382.8	$	(454.8)	$	1,478.6	$	(447.5)

Amortization expense for intangible assets was $10.8 million for the first quarters of 2020 and 2019. Foreign currency translation losses related to intangible assets, net, were $3.5 million in the first quarter of 2020 compared to foreign currency translation gains of $1.2 million in the first quarter of 2019.

In the first quarter of 2020, we recognized impairment losses of $64.1 million on our trade name and $24.7 million on our customer lists/relationships intangible assets related to certain of our energy-related businesses. See Note 12—“Impairment and Restructuring Charge” for further discussion of our impairment losses.

The following is a summary of estimated future amortization expense for the remaining nine months of 2020 and each of the succeeding five years:

	(in millions)
2020 (remaining nine months)	$	26.4
2021		34.7
2022		34.0
2023		29.7
2024		26.2