Goodwill and Other Intangible Assets (Tables)

9 Months Ended

Sep. 30, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of goodwill

The following table presents the changes in the carrying amount of goodwill for the nine months ended September 30, 2021:

	General rentals		Specialty		Total
Balance at January 1, 2021 (1)	$	4,368	$	800	$	5,168
Goodwill related to acquisitions (2)	73		228		301
Foreign currency translation and other adjustments	—		(11)		(11)
Balance at September 30, 2021 (1)	$	4,441	$	1,017	$	5,458

 

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(1)The total carrying amount of goodwill for all periods in the table above is reflected net of $1.557 billion of accumulated impairment charges, which were primarily recorded in our general rentals segment.

(2)For additional detail on the May 2021 acquisition of General Finance, which was assigned to our specialty segment and accounted for most of the goodwill related to acquisitions, see note 3 to our condensed consolidated financial statements.

Schedule of finite-lived intangible assets

Other intangible assets were comprised of the following at September 30, 2021 and December 31, 2020:  

	September 30, 2021
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	54 months		$	54		$	9		$	45
Customer relationships	5 years		$	2,389		$	1,781		$	608
Trade names and associated trademarks	4 years		$	15		$	6		$	9

	December 31, 2020
	Weighted-Average Remaining Amortization Period	Gross Carrying Amount			Accumulated Amortization			Net Amount
Non-compete agreements	35 months		$	12		$	6		$	6
Customer relationships	6 years		$	2,252		$	1,614		$	638
Trade names and associated trademarks	4 years		$	8		$	4		$	4

The intangible asset values are based on preliminary valuations and are subject to change as we obtain additional information during the acquisition measurement period.

	September 30, 2021
	Weighted-Average Remaining Amortization Period	Net Carrying Amount
Customer relationships	7 years	79
Trade names and associated trademarks	5 years	6

Schedule of finite-lived intangible assets, future amortization expense

As of September 30, 2021, estimated amortization expense for other intangible assets for each of the next five years and thereafter is as follows:  

2021		$	61
2022	202
2023	153
2024	106
2025	75
Thereafter	65
Total		$	662