XML 111 R16.htm IDEA: XBRL DOCUMENT v3.19.3.a.u2
Goodwill and Other Intangible Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets Goodwill and Other Intangible Assets
A summary of changes in the Company’s goodwill by reportable segment is as follows (in thousands):
 
 
December 31, 2018
 
Acquisitions
 
Acquisition Accounting
Adjustments
 
Foreign
Currency
 
December 31, 2019
Segment
 
 
 
 
 
 
 
 
 
 
North America
 
$
3,087,875

 
$
268,866

 
$
2,914

 
$
9,518

 
$
3,369,173

International
 
1,454,199

 
19,531

 
—

 
(9,856
)
 
1,463,874

 
 
$
4,542,074


$
288,397


$
2,914

 
$
(338
)
 
$
4,833,047

 
 
 
December 31, 2017
 
Acquisitions
 
Acquisition Accounting Adjustments
 
Foreign
Currency
 
December 31, 2018
Segment
 
 
 
 
 
 
 
 
 
 
North America
 
$
3,084,123

 
$
16,184

 
$
4,036

 
$
(16,468
)
 
$
3,087,875

International
 
1,631,700

 
—

 
20

 
(177,521
)
 
1,454,199

 
 
$
4,715,823


$
16,184


$
4,056

 
$
(193,989
)

$
4,542,074

At December 31, 2019 and 2018, approximately $861.4 million and $882.3 million of the Company’s goodwill is deductible for tax purposes, respectively. Acquisition accounting adjustments recorded in 2019 and 2018 are a result of the Company completing its acquisition accounting and working capital adjustments for certain prior year acquisitions.
Other intangible assets consisted of the following at December 31 (in thousands):
 
 
 
 
2019
 
2018
 
 
Weighted-
Avg Useful
Life
(Years)
 
Gross
Carrying
Amounts
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying
Amounts
 
Accumulated
Amortization
 
Net
Carrying
Amount
Customer and vendor agreements
 
17.0
 
$
2,698,327

 
$
(943,537
)
 
$
1,754,790

 
$
2,625,270

 
$
(776,383
)
 
$
1,848,887

Trade names and trademarks—indefinite lived
 
N/A
 
496,306

 
—

 
496,306

 
479,555

 
—

 
479,555

Trade names and trademarks—other
 
13.4
 
5,384

 
(2,877
)
 
2,507

 
2,957

 
(2,501
)
 
456

Software
 
6.0
 
242,783

 
(180,839
)
 
61,944

 
212,733

 
(152,416
)
 
60,317

Non-compete agreements
 
4.1
 
65,560

 
(39,225
)
 
26,335

 
47,009

 
(28,314
)
 
18,695

Total other intangibles
 
 
 
$
3,508,360


$
(1,166,478
)

$
2,341,882


$
3,367,524


$
(959,614
)

$
2,407,910

Changes in foreign exchange rates resulted in $2.0 million and $117 million decreases to the carrying values of other intangible assets in the years ended December 31, 2019 and 2018, respectively. Amortization expense related to intangible assets for the years ended December 31, 2019, 2018 and 2017 was $206.9 million, $216.3 million and $211.8 million, respectively.
The future estimated amortization of intangibles at December 31, 2019 is as follows (in thousands):
2020
 
$
192,314

2021
 
183,440

2022
 
170,757

2023
 
163,926

2024
 
157,125

Thereafter
 
978,014