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Intangible Assets (Tables)
12 Months Ended
Dec. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]  
Carrying Amount of Goodwill Allocated by Domestic and Foreign Operations

The carrying amount of goodwill at December 31, 2017 and 2016 allocated by domestic and foreign operations is as follows (in millions):

 

     Brokerage      Risk
Management
     Corporate      Total  

At December 31, 2017

           

United States

   $ 2,314.2      $ 25.8      $ —        $ 2,340.0  

United Kingdom

     738.5        7.2        —          745.7  

Canada

     375.3        —          —          375.3  

Australia

     416.6        —          —          416.6  

New Zealand

     209.3        9.6        —          218.9  

Other foreign

     98.4        —          3.0        101.4  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total goodwill - net

   $ 4,152.3      $ 42.6      $ 3.0      $ 4,197.9  
  

 

 

    

 

 

    

 

 

    

 

 

 

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  
  

 

 

    

 

 

    

 

 

    

 

 

 
Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill for 2017 and 2016 are as follows (in millions):

 

     Brokerage     Risk
Management
    Corporate      Total  

Balance as of January 1, 2016

   $ 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  

Goodwill acquired during the year

     290.4       14.1       —          304.5  

Goodwill adjustments related to appraisals and other acquisition adjustments

     14.7       —         —          14.7  

Foreign currency translation adjustments during the year

     110.3       0.4       0.2        110.9  
  

 

 

   

 

 

   

 

 

    

 

 

 

Balance as of December 31, 2017

   $ 4,152.3     $ 42.6     $ 3.0      $ 4,197.9  
  

 

 

   

 

 

   

 

 

    

 

 

 
Major Classes of Amortizable Intangible Assets

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

 

     December 31,  
     2017     2016  

Expiration lists

   $ 3,055.9     $ 2,757.6  

Accumulated amortization - expiration lists

     (1,422.1     (1,143.0
  

 

 

   

 

 

 
     1,633.8       1,614.6  
  

 

 

   

 

 

 

Non-compete agreements

     53.5       49.3  

Accumulated amortization - non-compete agreements

     (46.1     (42.1
  

 

 

   

 

 

 
     7.4       7.2  
  

 

 

   

 

 

 

Trade names

     25.9       24.0  

Accumulated amortization - trade names

     (22.5     (18.5
  

 

 

   

 

 

 
     3.4       5.5  
  

 

 

   

 

 

 

Net amortizable assets

   $ 1,644.6     $ 1,627.3  
  

 

 

   

 

 

 
Estimated Aggregate Amortization Expense

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

 

2018

   $ 257.2  

2019

     243.3  

2020

     226.7  

2021

     203.4  

2022

     180.6  
  

 

 

 

Total

   $ 1,111.2