Goodwill and Other Intangibles

6 Months Ended

Jun. 30, 2021

Goodwill And Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangibles

4. Goodwill and Other Intangibles

The following table shows the changes in goodwill by reportable segment and in total:

	East		West
	Group		Group		Total
	(Dollars in Millions)
Balance at January 1, 2021	$	572.5	$	1,841.5	$	2,414.0
Acquisitions		185.6		—		185.6
Balance at June 30, 2021	$	758.1	$	1,841.5	$	2,599.6

Intangible assets subject to amortization consist of the following:

	Gross Amount		Accumulated Amortization			Net Balance
(Dollars in Millions)	June 30, 2021
Noncompetition agreements	$	4.2	$	(4.1	)	$	0.1
Customer relationships		306.7		(40.2	)		266.5
Operating permits		460.8		(51.5	)		409.3
Use rights and other		16.4		(13.6	)		2.8
Trade names		23.3		(13.0	)		10.3
Total	$	811.4	$	(122.4	)	$	689.0
	December 31, 2020
Noncompetition agreements	$	4.2	$	(4.1	)	$	0.1
Customer relationships		91.3		(35.6	)		55.7
Operating permits		460.8		(48.4	)		412.4
Use rights and other		16.3		(13.0	)		3.3
Trade names		12.8		(12.3	)		0.5
Total	$	585.4	$	(113.4	)	$	472.0

At June 30, 2021 and December 31, 2020, intangible assets deemed to have an indefinite life and not being amortized consist of the following:

(Dollars in Millions)	Building Materials business		Magnesia Specialties		Total
Operating permits	$	6.6	$	—	$	6.6
Use rights		26.7		—		26.7
Trade names		0.2		2.5		2.7
Total	$	33.5	$	2.5	$	36.0

For the six months ended June 30, 2021, the Company acquired $225.9 million of intangibles, which consists of the following:

(Dollars in Millions)	Amount		Weighted-average amortization period
Subject to amortization:
Customer relationships	$	215.4	25 years
Trade name		10.5	9 years
Total	$	225.9	24 years

Total amortization expense for intangible assets for the six months ended June 30, 2021 and 2020 was $8.9 million and $6.4 million, respectively.

The estimated amortization expense for intangibles for the second half of 2021 and for each of the next four years and thereafter is as follows:

(Dollars in Millions)
July - December 2021	$	11.8
2022		22.9
2023		22.7
2024		22.3
2025		22.2
Thereafter		587.1
Total	$	689.0