XML 23 R13.htm IDEA: XBRL DOCUMENT v3.22.1
Goodwill and Other Intangible Assets
3 Months Ended
Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Other Intangible Assets
Note 6: Goodwill and Other Intangible Assets
The following table summarizes the changes in the carrying amount of goodwill for the three months ended March 31, 2022 (in millions):
AmericasEMEAAPACTotal
Balance as of December 31, 2021$1,511.2 $317.2 $253.5 $2,081.9 
Acquisitions3.0 — — 3.0 
Disposals— — — — 
Measurement period adjustments— — — — 
Effect of movements in exchange rates and other0.5 (8.9)7.8 (0.6)
Balance as of March 31, 2022$1,514.7 $308.3 $261.3 $2,084.3 
Portions of goodwill are denominated in currencies other than the U.S. dollar; therefore, a portion of the movements in the reported book value of these balances is attributable to movements in foreign currency exchange rates.
The Company identified immaterial measurement period adjustments during the three months ended March 31, 2022 and 2021 and adjusted the provisional goodwill amounts recognized.
For the three months ended March 31, 2022 and 2021, no impairments of goodwill were recognized as the estimated fair value of each of the identified reporting units was in excess of its carrying value.
The following tables summarize the carrying amounts and accumulated amortization of intangible assets (in millions):
As of March 31, 2022
Useful Life
(in years)
Gross ValueAccumulated AmortizationNet Value
C&W trade nameIndefinite$546.0 $— $546.0 
Customer relationships
1 - 15
1,377.6 (1,019.7)357.9 
Other intangible assets
5 - 7
17.2 (13.0)4.2 
Total intangible assets$1,940.8 $(1,032.7)$908.1 
As of December 31, 2021
Useful Life
(in years)
Gross ValueAccumulated AmortizationNet Value
C&W trade nameIndefinite$546.0 $— $546.0 
Customer relationships
1 - 15
1,380.7 (1,009.0)371.7 
Other intangible assets
2 - 13
17.3 (12.8)4.5 
Total intangible assets$1,944.0 $(1,021.8)$922.2 
Amortization expense was $15.8 million and $16.5 million for the three months ended March 31, 2022 and 2021, respectively.
No impairments of intangible assets were recorded for the three months ended March 31, 2022 and 2021.