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Goodwill and Intangible Assets (Tables)
6 Months Ended
Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

 

Changes in the carrying amount of our goodwill are as follows (dollars in millions):

 

 

 

Goodwill

 

Balance at January 1, 2019

 

$

917.3

 

Acquisitions (a)

 

 

1.4

 

Balance at June 30, 2019

 

$

918.7

 

 

(a)

During the three months ended June 30, 2019, the Company recorded a $1.4 million adjustment to increase the goodwill balance for the Company’s October 2018 acquisition of Englander.

Components of Intangible Assets

The weighted average remaining useful life, gross carrying amount, and accumulated amortization of our intangible assets were as follows (dollars in millions):

 

 

 

June 30, 2019

 

 

December 31, 2018

 

 

 

Weighted

Average

Remaining

Useful Life

(in Years)

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

 

Weighted

Average

Remaining

Useful Life

(in Years)

 

 

Gross

Carrying

Amount

 

 

Accumulated

Amortization

 

Customer relationships (b)

 

 

10.4

 

 

$

503.8

 

 

$

162.4

 

 

 

10.9

 

 

$

504.6

 

 

$

144.5

 

Trademarks and trade names

 

 

9.7

 

 

 

34.8

 

 

 

19.3

 

 

 

10.1

 

 

 

34.8

 

 

 

18.3

 

Other

 

 

2.5

 

 

 

4.3

 

 

 

3.0

 

 

 

3.0

 

 

 

4.3

 

 

 

2.7

 

Total intangible assets (excluding goodwill)

 

 

10.3

 

 

$

542.9

 

 

$

184.7

 

 

 

10.8

 

 

$

543.7

 

 

$

165.5

 

 

(b)

During the second quarter of 2019, a corrugated products facility sold part of its operations which included existing inventory, certain production equipment, and customer relationships corresponding to the operations sold. As a result, the gross carrying amount for the customer relationships intangible asset was decreased by $0.7 million.