Goodwill and Other Intangibles

9 Months Ended

Sep. 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		185.9		12.8			198.7
Goodwill allocated to assets held for sale		—		(2.1	)		(2.1	)
Balance at September 30, 2021	$	758.4	$	1,852.2		$	2,610.6

Intangible assets subject to amortization consist of the following:

	Gross Amount		Accumulated Amortization			Net Balance
(Dollars in Millions)	September 30, 2021
Noncompetition agreements	$	4.2	$	(4.1	)	$	0.1
Customer relationships		312.7		(44.3	)		268.4
Operating permits		523.8		(53.7	)		470.1
Use rights and other		16.4		(13.8	)		2.6
Trade names		23.3		(13.3	)		10.0
Total	$	880.4	$	(129.2	)	$	751.2
	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 September 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 nine months ended September 30, 2021, the Company acquired $294.9 million of intangibles, which consists of the following:

(Dollars in Millions)	Amount		Weighted-average amortization period
Subject to amortization:
Customer relationships	$	221.4	24 years
Permits		63.0	40 years
Trade name		10.5	9 years
Total	$	294.9	27 years

Total amortization expense for intangible assets for the nine months ended September 30, 2021 and 2020 was $15.2 million and $9.8 million, respectively.

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

(Dollars in Millions)
October - December 2021	$	6.4
2022		25.0
2023		24.7
2024		24.4
2025		24.3
Thereafter		646.4
Total	$	751.2