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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
As discussed in Note 3, goodwill arises from the purchase price for acquired businesses exceeding the fair value of tangible and intangible assets acquired less assumed liabilities and noncontrolling interests. Management assesses the goodwill of each of its reporting units for impairment at least annually at the beginning of the fourth quarter and as “triggering” events occur that indicate that it is more likely than not that an impairment exists. The Company elected to bypass the optional qualitative goodwill assessment allowed by applicable accounting standards and performed a quantitative impairment test for all reporting units as this was determined to be the most effective method to assess for impairment across a large spectrum of reporting units.
The Company estimates the fair value of its reporting units primarily using a market approach, based on current trading multiples of earnings before interest, taxes, depreciation and amortization (“EBITDA”) for companies operating in businesses similar to each of the Company’s reporting units, in addition to recent available market sale transactions of comparable businesses. In certain circumstances the Company also estimates fair value utilizing a discounted cash flow analysis (i.e., an income approach) in order to validate the results of the market approach. If the estimated fair value of the reporting unit is less than its carrying value, the Company must perform additional analysis to determine if the reporting unit’s goodwill has been impaired.
As of December 31, 2019, the Company had five reporting units for goodwill impairment testing. As of the date of the 2019 annual impairment test, the carrying value of the goodwill included in each individual reporting unit ranged from $505 million to approximately $13.3 billion. No goodwill impairment charges were recorded for the years ended December 31, 2019, 2018 and 2017 and no “triggering” events have occurred subsequent to the performance of the 2019 annual impairment test. The factors used by management in its impairment analysis are inherently subject to uncertainty. If actual results are not consistent with management’s estimates and assumptions, goodwill and other intangible assets may be overstated and a charge would need to be taken against net earnings.
The following is a rollforward of the Company’s goodwill by segment ($ in millions):  
 
Life
Sciences
 
Diagnostics
 
Environmental & Applied Solutions
 
Total
Balance, January 1, 2018
$
12,335.5

 
$
7,079.5

 
$
2,353.6

 
$
21,768.6

Attributable to 2018 acquisitions
1,212.6

 
—

 
62.8

 
1,275.4

Adjustments due to finalization of purchase price allocations
2.8

 
—

 
4.7

 
7.5

Foreign currency translation and other
(239.9
)
 
(153.9
)
 
(77.2
)
 
(471.0
)
Balance, December 31, 2018
13,311.0

 
6,925.6

 
2,343.9

 
22,580.5

Attributable to 2019 acquisitions
213.4

 
2.6

 
1.1

 
217.1

Adjustments due to finalization of purchase price allocations
(6.9
)
 
—

 
—

 
(6.9
)
Foreign currency translation and other
(45.7
)
 
(27.0
)
 
(5.5
)
 
(78.2
)
Balance, December 31, 2019
$
13,471.8

 
$
6,901.2

 
$
2,339.5

 
$
22,712.5


Finite-lived intangible assets are amortized over their legal or estimated useful life. The following summarizes the gross carrying value and accumulated amortization for each major category of intangible assets as of December 31 ($ in millions): 
 
2019
 
2018
 
Gross
Carrying
Amount
 
Accumulated
Amortization
 
Gross
Carrying
Amount
 
Accumulated
Amortization
Finite-lived intangibles:
 
 
 
 
 
 
 
Patents and technology
$
2,712.7

 
$
(934.1
)
 
$
2,679.0

 
$
(764.5
)
Customer relationships and other intangibles
6,367.4

 
(2,612.3
)
 
6,327.1

 
(2,166.1
)
Total finite-lived intangibles
9,080.1

 
(3,546.4
)
 
9,006.1

 
(2,930.6
)
Indefinite-lived intangibles:
 
 
 
 
 
 
 
Trademarks and trade names
4,216.0

 
—

 
4,207.3

 
—

Total intangibles
$
13,296.1

 
$
(3,546.4
)
 
$
13,213.4

 
$
(2,930.6
)

During 2019, the Company acquired finite-lived intangible assets, consisting primarily of customer relationships, with a weighted average life of 13 years. During 2018, the Company acquired finite-lived intangible assets, consisting primarily of patents and technology, with a weighted average life of 18 years. Refer to Note 3 for additional information on the intangible assets acquired.
Total intangible amortization expense in 2019, 2018 and 2017 was $625 million, $616 million and $579 million, respectively. Based on the intangible assets recorded as of December 31, 2019, amortization expense is estimated to be $623 million during 2020, $613 million during 2021, $595 million during 2022, $589 million during 2023 and $550 million during 2024.