Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill and Other Intangible Assets

Goodwill

The changes in the carrying amount of goodwill by operating segment for the years ended December 31, 2021 and 2020 are as follows:

	December 31, 2021
(In millions)	Beginning Balance		Acquisitions/ Dispositions(a)	Currency	Ending Balance
Goodwill:
North America	$	347.9	126.9	0.1	474.9
Latin America	222.3		2.2	(10.4)	214.1
Europe	324.9		1.7	(24.1)	302.5
Rest of World	324.1		111.1	(15.0)	420.2
Total Goodwill	$	1,219.2	241.9	(49.4)	1,411.7

(a)Includes adjustments related to the finalization of valuations in prior year acquisitions ($0.1 million increase in North America, $9.6 million decrease in Europe and $4.8 million decrease in Rest of World ).

	December 31, 2020
(In millions)	Beginning Balance		Acquisitions/ Dispositions(a)	Currency	Ending Balance
Goodwill:
North America	$	347.8	—	0.1	347.9
Latin America	248.5		1.8	(28.0)	222.3
Europe	106.5		187.7	30.7	324.9
Rest of World	81.8		229.5	12.8	324.1
Total Goodwill	$	784.6	419.0	15.6	1,219.2

(a)Includes adjustments related to the finalization of valuations in prior year acquisitions ($0.9 million in Latin America).

Intangible Assets

The following table summarizes our other intangible assets by category:

	December 31, 2021				December 31, 2020
(In millions)	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount	Gross Carrying Amount		Accumulated Amortization	Net Carrying Amount	Weighted-average amortization period
Customer relationships	$	581.9	(145.7)	436.2	$	509.0	(109.2)	399.8	11.1
Indefinite-lived trade names	7.6		—	7.6	7.8		—	7.8	—
Finite-lived trade names	28.6		(12.2)	16.4	20.1		(9.1)	11.0	4.4
Developed technology	34.7		(3.9)	30.8	8.6		(1.5)	7.1	10.6
Other	4.4		(4.2)	0.2	4.6		(4.2)	0.4	1.8
Total	$	657.2	(166.0)	491.2	$	550.1	(124.0)	426.1

Total amortization expense for our finite-lived intangible assets was $47.7 million in 2021 and $35.1 million in 2020.  Our estimated aggregate amortization expense for finite-lived intangibles recorded at December 31, 2021, for the next five years is as follows:

(In millions)	2022		2023	2024	2025	2026
Amortization expense	$	46.0	45.6	45.3	44.7	42.4