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Amortizable Intangible Assets
 9 Months Ended
Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
Amortizable Intangible Assets

NOTE 7 Amortizable Intangible Assets

Amortizable intangible assets at September 30, 2022 and December 31, 2021 consisted of the following:

 

 

 

September 30, 2022

 

 

December 31, 2021

 

(in millions)

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life
(years) (1)

 

 

Gross
carrying
value

 

 

Accumulated
amortization

 

 

Net
carrying
value

 

 

Weighted
average
life
(years) (1)

 

Purchased customer accounts and other

 

$

2,972.9

 

 

$

(1,342.3

)

 

$

1,630.6

 

 

 

14.7

 

 

$

2,311.6

 

 

$

(1,235.3

)

 

$

1,076.3

 

 

 

14.9

 

Non-compete agreements

 

 

38.8

 

 

 

(33.6

)

 

 

5.2

 

 

 

4.5

 

 

 

37.6

 

 

 

(32.4

)

 

 

5.2

 

 

 

4.5

 

Foreign currency translation adjustments during the year

 

 

(49.3

)

 

 

1.5

 

 

 

(47.8

)

 

 

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

Total

 

$

2,962.4

 

 

$

(1,374.4

)

 

$

1,588.0

 

 

 

 

 

$

2,349.2

 

 

$

(1,267.7

)

 

$

1,081.5

 

 

 

 

 

(1)
Weighted average life calculated as of the date of acquisition.

Amortization expense for amortizable intangible assets for the years ending December 31, 2022, 2023, 2024, 2025 and 2026 is estimated to be $150.6 million, $165.8 million, $161.6 million, $158.8 million, and $152.8 million, respectively.