Goodwill and Identifiable Intangible Assets, net (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill Balances by Segment Reporting Structure

The following table shows our goodwill balances by reportable segment: 

(In millions)	Food		Protective		Total
Gross Carrying Value at December 31, 2020	$	579.7	$	1,833.6	$	2,413.3
Accumulated impairment(1)	(49.5)		(141.2)		(190.7)
Carrying Value at December 31, 2020	$	530.2	$	1,692.4	$	2,222.6
Currency translation	(2.9)		(6.4)		(9.3)
Carrying Value at September 30, 2021	$	527.3	$	1,686.0	$	2,213.3

(1)There was no change to our accumulated impairment balance during the nine months ended September 30, 2021.

Summary of Identifiable Intangible Assets with Indefinite Useful Lives

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of September 30, 2021, there were no impairment indicators present.

	September 30, 2021						December 31, 2020
(In millions)	Gross Carrying Value		Accumulated Amortization		Net		Gross Carrying Value		Accumulated Amortization		Net
Customer relationships	$	102.9	$	(40.9)	$	62.0	$	105.2	$	(37.2)	$	68.0
Trademarks and tradenames	31.1		(10.8)		20.3		31.3		(8.5)		22.8
Software	121.2		(85.4)		35.8		104.7		(69.7)		35.0
Technology	65.0		(36.8)		28.2		66.7		(33.0)		33.7
Contracts	13.5		(11.3)		2.2		13.6		(11.0)		2.6
Total intangible assets with definite lives	333.7		(185.2)		148.5		321.5		(159.4)		162.1
Trademarks and tradenames with indefinite lives	8.9		—		8.9		8.9		—		8.9
Total identifiable intangible assets, net	$	342.6	$	(185.2)	$	157.4	$	330.4	$	(159.4)	$	171.0

Summary of Identifiable Intangible Assets with Definite Useful Lives

The following tables summarize our identifiable intangible assets, net with definite and indefinite useful lives. As of September 30, 2021, there were no impairment indicators present.

	September 30, 2021						December 31, 2020
(In millions)	Gross Carrying Value		Accumulated Amortization		Net		Gross Carrying Value		Accumulated Amortization		Net
Customer relationships	$	102.9	$	(40.9)	$	62.0	$	105.2	$	(37.2)	$	68.0
Trademarks and tradenames	31.1		(10.8)		20.3		31.3		(8.5)		22.8
Software	121.2		(85.4)		35.8		104.7		(69.7)		35.0
Technology	65.0		(36.8)		28.2		66.7		(33.0)		33.7
Contracts	13.5		(11.3)		2.2		13.6		(11.0)		2.6
Total intangible assets with definite lives	333.7		(185.2)		148.5		321.5		(159.4)		162.1
Trademarks and tradenames with indefinite lives	8.9		—		8.9		8.9		—		8.9
Total identifiable intangible assets, net	$	342.6	$	(185.2)	$	157.4	$	330.4	$	(159.4)	$	171.0

Remaining Estimated Future Amortization Expense

The following table shows the remaining estimated future amortization expense at September 30, 2021. 

Year	Amount (In millions)
Remainder of 2021	$	10.3
2022	31.1
2023	24.2
2024	18.0
2025	13.7
Thereafter	51.2
Total	$	148.5