XML 32 R17.htm IDEA: XBRL DOCUMENT v3.22.0.1
Goodwill and Other Intangible Assets
12 Months Ended
Dec. 31, 2021
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, 2020AcquisitionsAcquisition Accounting
Adjustments
Foreign
Currency
December 31, 2021
Segment
North America$3,400,772 $420,529 $398 $(7,441)$3,814,258 
Brazil585,861 — — (39,713)546,148 
International732,548 3,286 (1,294)(15,968)718,572 
$4,719,181 $423,815 $(896)$(63,122)$5,078,978 
December 31, 2019AcquisitionsAcquisition Accounting AdjustmentsForeign
Currency
December 31, 2020
Segment
North America$3,369,173 $24,984 $(1,908)$8,523 $3,400,772 
Brazil756,975 — — (171,114)585,861 
International706,899 3,950 — 21,699 732,548 
$4,833,047 $28,934 $(1,908)$(140,892)$4,719,181 
At December 31, 2021 and 2020, approximately $923.3 million and $793.8 million of the Company’s goodwill is deductible for tax purposes, respectively. Acquisition accounting adjustments recorded in 2021 and 2020 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):
  20212020
 Weighted-
Avg Useful
Life
(Years)
Gross
Carrying
Amounts
Accumulated
Amortization
Net
Carrying
Amount
Gross
Carrying
Amounts1
Accumulated
Amortization1
Net
Carrying
Amount
Customer and vendor agreements16.3$2,925,719 $(1,167,218)$1,758,501 $2,594,909 $(1,011,815)$1,583,094 
Trade names and trademarks—indefinite livedN/A466,327 — 466,327 455,632 — 455,632 
Trade names and trademarks—other7.212,093 (5,235)6,858 6,720 (3,031)3,689 
Software5.9272,461 (198,628)73,833 239,292 (182,448)56,844 
Non-compete agreements4.378,145 (48,279)29,866 56,493 (39,870)16,623 
Total other intangibles$3,754,745 $(1,419,360)$2,335,385 $3,353,046 $(1,237,164)$2,115,882 
1Recast 2020 to reflect changes between gross carrying amounts and accumulated amortization; net carrying amounts remain unchanged.
Changes in foreign exchange rates resulted in $32.7 million and $83.7 million decreases to the carrying values of other intangible assets in the years ended December 31, 2021 and 2020, respectively. Amortization expense related to intangible assets for the years ended December 31, 2021, 2020 and 2019 was $205.5 million, $184.2 million and $206.9 million, respectively.
The future estimated amortization of intangibles at December 31, 2021 is as follows (in thousands):
2022$213,678 
2023204,053 
2024196,009 
2025175,261 
2026152,363 
Thereafter927,694