Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2020

The carrying amount of goodwill at December 31, 2020 and 2019 allocated by domestic and foreign operations is as follows (in millions):

The changes in the carrying amount of goodwill for 2020 and 2019 are as follows (in millions):

	Brokerage			Risk Management			Corporate			Total
Balance as of December 31, 2018	$	4,573.6		$	49.3		$	2.7		$	4,625.6
Goodwill acquired during the year		958.4			16.9			0.4			975.7
Goodwill adjustments related to appraisals and other acquisition adjustments		0.2			(0.2	)		-			-
Goodwill written-off related to sales of business		(7.2	)		-			-			(7.2	)
Foreign currency translation adjustments during the year		23.9			0.6			(0.1	)		24.4
Balance as of December 31, 2019		5,548.9			66.6			3.0			5,618.5
Goodwill acquired during the year		359.6			-			-			359.6
Goodwill adjustments related to appraisals and other acquisition adjustments		29.8			1.7			-			31.5
Foreign currency translation adjustments during the year		115.3			2.2			(0.1	)		117.4
Balance as of December 31, 2020	$	6,053.6		$	70.5		$	2.9		$	6,127.0

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

	December 31,
	2020			2019
Expiration lists	$	4,753.2		$	4,246.0
Accumulated amortization - expiration lists		(2,436.7	)		(2,004.3	)
		2,316.5			2,241.7
Non-compete agreements		75.9			68.4
Accumulated amortization - non-compete agreements		(57.8	)		(52.5	)
		18.1			15.9
Trade names		107.8			91.8
Accumulated amortization - trade names		(42.5	)		(30.7	)
		65.3			61.1
Net amortizable assets	$	2,399.9		$	2,318.7

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