GOODWILL AND OTHER INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]


NOTE 4 – GOODWILL AND OTHER INTANGIBLE ASSETS

Goodwill

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


In millions
	North America		International		Total
Balance as of December 31, 2020	$	2,448.8	$	370.5	$	2,819.3

Changes due to foreign currency fluctuations	—		(8.0)		(8.0)
Balance as of March 31, 2021	$	2,448.8	$	362.5	$	2,811.3

Intangible Assets

Intangible assets were as follows:


In millions
	March 31, 2021						December 31, 2020
	Gross Carrying Amount		Accumulated Amortization		Net Value		Gross Carrying Amount		Accumulated Amortization		Net Value
Amortizable intangibles:
Customer relationships	$	1,310.7	$	657.1	$	653.6	$	1,314.9	$	630.2	$	684.7
Covenants not-to-compete	3.5		3.1		0.4		3.5		3.0		0.5
Tradenames	3.6		1.3		2.3		3.6		1.3		2.3
Operating permits	11.5		7.2		4.3		11.5		6.5		5.0
Other	0.6		0.6		—		0.6		0.6		—
Indefinite lived intangibles:
Operating permits	77.8		—		77.8		79.6		—		79.6
Tradenames	315.6		—		315.6		315.3		—		315.3
Total	$	1,723.3	$	669.3	$	1,054.0	$	1,729.0	$	641.6	$	1,087.4

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


In millions
	Total
Balance as of December 31, 2020	$	1,087.4


Amortization during the period	(29.8)
Changes due to foreign currency fluctuations	(3.6)
Balance as of March 31, 2021	$	1,054.0

The estimated amortization expense for each of the next five years (based upon exchange rates at March 31, 2021) is as follows for the years ending December 31:


In millions
2021 (remainder)	$	86.7
2022	115.2
2023	111.9
2024	110.4
2025	90.0