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Goodwill and Other Assets
 12 Months Ended
Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND OTHER ASSETS GOODWILL AND OTHER ASSETS

The Company’s three reportable operating segments are Eurasia Banking, Americas Banking and Retail. The Company has allocated goodwill to its Eurasia Banking, Americas Banking and Retail reportable operating segments. The changes in carrying amounts of goodwill within the Company's segments are summarized as follows:
 
Eurasia Banking
 
Americas Banking
 
Retail
 
Total
Goodwill
$
608.3

 
$
445.0

 
$
283.1

 
$
1,336.4

Accumulated impairment losses
(168.7
)
 
(122.0
)
 
—

 
(290.7
)
Balance at January 1, 2018
$
439.6

 
$
323.0

 
$
283.1

 
$
1,045.7

Transferred to assets held for sale
(0.8
)
 
(0.3
)
 
(43.4
)
 
(44.5
)
Currency translation adjustment
(8.9
)
 
(7.4
)
 
(6.5
)
 
(22.8
)
Goodwill
$
598.6

 
$
437.3

 
$
233.2

 
$
1,269.1

Impairment
(123.0
)
 
—

 
(57.2
)
 
(180.2
)
Accumulated impairment losses
(291.7
)
 
(122.0
)
 
(57.2
)
 
(470.9
)
Balance at December 31, 2018
$
306.9

 
$
315.3

 
$
176.0

 
$
798.2

Divestitures
(0.4
)
 
—

 
(3.9
)
 
(4.3
)
Transferred to assets held for sale
(11.7
)
 
—

 
—

 
(11.7
)
Currency translation adjustment
(7.3
)
 
(6.0
)
 
(4.9
)
 
(18.2
)
Goodwill
$
579.2

 
$
431.3

 
$
224.4

 
$
1,234.9

Accumulated impairment losses
(291.7
)
 
(122.0
)
 
(57.2
)
 
(470.9
)
Balance at December 31, 2019
$
287.5

 
$
309.3

 
$
167.2

 
$
764.0



Goodwill. In the fourth quarter of 2019 in connection with the annual goodwill impairment test, the Company estimated the fair value of its reporting units using a combination of the income valuation and market approach methodologies. The determination of the fair value of a reporting unit requires significant estimates and assumptions, including significant unobservable inputs. The key inputs included, but were not limited to, discount rates, terminal growth rates, market multiple data from selected guideline public companies, management’s internal forecasts which include numerous assumptions such as projected net sales, gross profit, sales mix, operating and capital expenditures and earnings before interest and taxes margins, among others. Accordingly, no impairment resulted from the annual goodwill impairment test in any of the Company's reporting units.

The Company identified four reporting units, which are Eurasia Banking, Americas Banking, EMEA Retail and Rest of World Retail. Management determined that the Eurasia Banking and EMEA Retail reporting units both had a cushion of approximately 40 percent when compared to their carrying amounts. The Americas Banking reporting unit had significant excess fair value or cushion when compared to its carrying amount. Rest of World Retail had no carrying value as of December 31, 2019. Changes in certain assumptions or the Company's failure to execute on the current plan could have a significant impact to the estimated fair value of the reporting units.

The Company wrote-off $4.3 of goodwill during the year ended December 31, 2019, as a result of the divestiture of certain non-core businesses in Eurasia Banking and Retail. Additionally, the Company reclassified $11.7 of goodwill based on relative fair value to assets held for sale during the year ended December 31, 2019 related to non-core businesses in Eurasia Banking.

Other Assets. Other assets consists of net capitalized computer software development costs, patents, trademarks and other intangible assets. Where applicable, other assets are stated at cost and, if applicable, are amortized ratably over the relevant contract period or the estimated life of the assets. Fees to renew or extend the term of the Company’s intangible assets are expensed when incurred.

The following summarizes information on intangible assets by major category:
 
 
 
December 31, 2019
 
December 31, 2018
 
Weighted-average remaining useful lives
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
 
Gross
Carrying Amount
 
Accumulated
Amortization
 
Net
Carrying
Amount
Customer relationships, net
6.2 years
 
$
698.7

 
$
(251.0
)
 
$
447.7

 
$
712.2

 
$
(179.1
)
 
$
533.1

 
 
 
 
 
 
 
 
 
 
 
 
 
 
Internally-developed software
1.8 years
 
178.2

 
(132.2
)
 
46.0

 
189.6

 
(118.9
)
 
70.7

Development costs non-software
1.2 years
 
51.5

 
(47.5
)
 
4.0

 
52.5

 
(44.3
)
 
8.2

Other
2.9 years
 
79.3

 
(74.7
)
 
4.6

 
79.5

 
(66.9
)
 
12.6

Other intangible assets, net
 
 
309.0

 
(254.4
)
 
54.6

 
321.6

 
(230.1
)
 
91.5

Total

 
$
1,007.7

 
$
(505.4
)
 
$
502.3

 
$
1,033.8

 
$
(409.2
)
 
$
624.6



Amortization expense on capitalized software of $30.6, $33.7 and $34.6 was included in cost of sales for 2019, 2018 and 2017, respectively. The Company's total amortization expense, including deferred financing costs, was $143.9, $153.4 and $159.3 for the years ended December 31, 2019, 2018 and 2017, respectively. The expected annual amortization expense is as follows:
 
Estimated amortization
2020
$
97.6

2021
87.1

2022
84.4

2023
82.3

2024
80.6

 
$
432.0



The Company recorded impairment charges of $30.2 in 2019 related primarily related to capitalized software in addition to assets from a non-core business transferred to assets held for sale.