Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

6.	Intangible Assets

The carrying amount of goodwill at December 31, 2016 and 2015 allocated by domestic and foreign operations is as follows (in millions):


	Brokerage		Risk Management Services Management		Corporate		Total
At December 31, 2016
United States	$	2,115.0	$	23.5	$	—	$	2,138.5
United Kingdom		662.2		4.3		—		666.5
Canada		292.2		—		—		292.2
Australia		382.7		—		—		382.7
New Zealand		205.0		0.3		—		205.3
Other foreign		79.8		—		2.8		82.6

Total goodwill - net	$	3,736.9	$	28.1	$	2.8	$	3,767.8

At December 31, 2015
United States	$	1,946.9	$	23.5	$	—	$	1,970.4
United Kingdom		779.3		3.5		—		782.8
Canada		282.6		—		—		282.6
Australia		380.1		—		—		380.1
New Zealand		204.2		0.3		—		204.5
Other foreign		42.5		—		—		42.5

Total goodwill - net	$	3,635.6	$	27.3	$	—	$	3,662.9

The changes in the carrying amount of goodwill for 2016 and 2015 are as follows (in millions):


	Brokerage			Risk Management Services Management			Corporate		Total
Balance as of January 1, 2015	$	3,427.5		$	22.1		$	—	$	3,449.6
Goodwill acquired during the year		352.6			2.0			—		354.6
Goodwill related to transfers of operations between segments		(3.4	)		3.4			—		—
Goodwill adjustments related to appraisals and other acquisition adjustments		25.3			—			—		25.3
Foreign currency translation adjustments during the year		(166.4	)		(0.2	)		—		(166.6	)

Balance as of December 31, 2015		3,635.6			27.3			—		3,662.9
Goodwill acquired during the year		222.6			—			2.8		225.4
Goodwill adjustments related to appraisals and other acquisition adjustments		1.8			1.6			—		3.4
Foreign currency translation adjustments during the year		(123.1	)		(0.8	)		—		(123.9	)

Balance as of December 31, 2016	$	3,736.9		$	28.1		$	2.8	$	3,767.8

Major classes of amortizable intangible assets consist of the following (in millions):


	December 31,
	2016			2015
Expiration lists	$	2,757.6		$	2,613.3
Accumulated amortization - expiration lists		(1,143.0	)		(934.7	)

		1,614.6			1,678.6

Non-compete agreements		49.3			43.7
Accumulated amortization - non-compete agreements		(42.1	)		(34.8	)

		7.2			8.9

Trade names		24.0			25.7
Accumulated amortization - trade names		(18.5	)		(14.4	)

		5.5			11.3

Net amortizable assets	$	1,627.3		$	1,698.8

Estimated aggregate amortization expense for each of the next five years is as follows (in millions):


2017	$	239.6
2018		226.8
2019		213.1
2020		197.0
2021		174.5

Total	$	1,051.0

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

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