Other Intangible Assets, net

12 Months Ended

Dec. 31, 2020

Goodwill And Intangible Assets Disclosure [Abstract]

Other Intangible Assets, net

10. Other Intangible Assets, net

The components of other intangible assets, net, for the years ended December 31, 2020 and 2019 were as follows:

			December 31,
			2020							2019
	Weighted		Acquired					Acquired		Acquired					Acquired
	Average		Intangible					Intangible		Intangible					Intangible
	Life		Assets,		Accumulated			Assets,		Assets,		Accumulated			Assets,
(millions)	(Years)		Gross		Amortization			Net		Gross		Amortization			Net
Covenant not to compete		2.1	$	2.9	$	(1.3	)	$	1.6	$	2.9	$	(0.3	)	$	2.6
Trade names and trademarks		2.9		0.9		(0.2	)		0.7		5.6		(1.2	)		4.4
Proprietary know how		3.7		3.8		(0.4	)	$	3.4		10.4		(2.0	)		8.4
Management contract rights		8.1		81.0		(42.6	)		38.4		81.0		(37.4	)		43.6
Customer relationships		12.9		21.5		(2.5	)	$	19.0		100.4		(7.2	)		93.2
Acquired intangible assets, net		9.1	$	110.1	$	(47.0	)	$	63.1	$	200.3	$	(48.1	)	$	152.2

The table below shows the amortization expense related to intangible assets for the years ended December 31, 2020, 2019 and 2018, which was included in Depreciation and amortization within the Consolidated Statements of (Loss) Income.

	Year Ended December 31,
(millions)	2020		2019		2018
Amortization expense	$	13.2	$	15.1	$	6.1

The expected future amortization of intangible assets as of December 31, 2020 was as follows:

(millions)	Intangible asset amortization
2021	$	8.7
2022		8.1
2023		8.0
2024		7.3
2025		6.6
2026 and thereafter		24.4
Total	$	63.1

As discussed in Note 1. Significant Accounting Policies and Practices, the Company determined impairment testing triggers had occurred for certain intangible assets. The fair value of these intangible assets were classified as Level 3 in the fair value hierarchy.

Due to the impact of COVID-19 on the Company's expected future operating cash flows, the Company analyzed undiscounted cash flows as of June 30, 2020 and determined the carrying value for a proprietary know how asset was higher than its projected undiscounted cash flows. As a result, the Company recorded $3.7 million of impairment charges within the Aviation segment during the year ended December 31, 2020 which was recognized in Impairment of goodwill and intangible assets in the Consolidated Statements of (Loss) Income.

Additionally, due to the termination of certain contracts within the Aviation segment during August 2020 and the impact of COVID-19 on the Company's expected future operating cash flows, the Company analyzed undiscounted cash flows as of August 31, 2020 and determined the carrying values for the customer relationships and trade names and trademarks were higher than their projected undiscounted cash flows. As a result, the Company recorded $72.1 million of impairment charges within the Aviation segment during the year ended December 31, 2020 which was recognized in Impairment of goodwill and intangible assets in the Consolidated Statements of (Loss) Income. See Note 12. Fair Value Measurement for further discussion.

No impairment charges were recorded during the years ended December 31, 2019 and 2018.