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GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)
6 Months Ended
Jun. 30, 2019
Goodwill And Intangible Assets Disclosure [Abstract]  
Changes in Carrying Amount of Goodwill

Changes in the carrying amount of goodwill by reportable segment were as follows:

 

In millions

 

 

Domestic and

Canada RWCS

 

 

International RWCS

 

 

All Other

 

 

Total

 

Balance as of December 31, 2018

$

2,848.4

 

 

$

373.8

 

 

$

-

 

 

$

3,222.2

 

Goodwill acquired during period

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Valuation adjustments from prior year acquisitions

 

(3.6

)

 

 

-

 

 

 

-

 

 

 

(3.6

)

Impairment during the period

 

-

 

 

 

(20.9

)

 

 

-

 

 

 

(20.9

)

Divestiture of business

 

-

 

 

 

(6.2

)

 

 

-

 

 

 

(6.2

)

Changes due to foreign currency fluctuations

 

5.1

 

 

 

(1.5

)

 

 

-

 

 

 

3.6

 

Balance as of June 30, 2019

$

2,849.9

 

 

$

345.2

 

 

$

-

 

 

$

3,195.1

 

Summary of Accumulated Non-Cash Impairment Charges by Segment

Accumulated non-cash goodwill impairment charges by reportable segment were as follows:

 

In millions

 

 

June 30, 2019

 

 

December 31, 2018

 

International RWCS

$

158.3

 

 

$

137.4

 

All Other

 

286.3

 

 

 

286.3

 

Total

$

444.6

 

 

$

423.7

 

 

Intangible Assets

Intangible assets were as follows:

 

In millions

 

 

June 30, 2019

 

 

December 31, 2018

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Value

 

 

Gross Carrying Amount

 

 

Accumulated Amortization

 

 

Net Value

 

Amortizable intangibles:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer relationships

$

1,589.5

 

 

$

563.9

 

 

$

1,025.6

 

 

$

1,591.5

 

 

$

492.0

 

 

$

1,099.5

 

Covenants not-to-compete

 

5.1

 

 

 

3.6

 

 

 

1.5

 

 

 

5.1

 

 

 

3.2

 

 

 

1.9

 

Tradenames

 

4.1

 

 

 

1.2

 

 

 

2.9

 

 

 

3.9

 

 

 

1.2

 

 

 

2.7

 

Other

 

12.3

 

 

 

4.0

 

 

 

8.3

 

 

 

12.3

 

 

 

3.5

 

 

 

8.8

 

Indefinite lived intangibles:

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating permits

 

211.5

 

 

 

-

 

 

 

211.5

 

 

 

212.5

 

 

 

-

 

 

 

212.5

 

Tradenames

 

313.0

 

 

 

-

 

 

 

313.0

 

 

 

312.3

 

 

 

-

 

 

 

312.3

 

Total

$

2,135.5

 

 

$

572.7

 

 

$

1,562.8

 

 

$

2,137.6

 

 

$

499.9

 

 

$

1,637.7

 

Changes in Carrying Amount of Intangible Assets

Changes in the carrying amount of intangible assets were as follows:

 

In millions

 

 

Total

 

Balance as of December 31, 2018

$

1,637.7

 

Intangible assets acquired during the period

 

0.5

 

Valuation adjustments for prior year acquisitions

 

3.5

 

Divestiture of business

 

(5.7

)

Impairments during the period

 

(1.7

)

Amortization during the period

 

(74.7

)

Changes due to foreign currency fluctuations

 

3.2

 

Balance as of June 30, 2019

$

1,562.8

 

Estimated Amortization Expense

The estimated amortization expense for each of the next five years (based upon exchange rates at June 30, 2019) is as follows for the years ending December 31:

 

In millions

 

2019

$

144.6

 

2020

$

140.1

 

2021

$

135.9

 

2022

$

134.2

 

2023

$

131.7