Goodwill and Identifiable Assets (Notes)

3 Months Ended

Mar. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Identifiable Intangible Assets

Goodwill and Identifiable Intangible Assets

The following table summarizes the activity related to the carrying amount of goodwill by reportable segment since December 31, 2020 (in millions).

	Commercial		Federal Government		Total
Balance as of December 31, 2020	$	778.6	$	642.1	$	1,420.7
2021 acquisitions	51.1		94.8		145.9
Purchase price adjustments	—		3.3		3.3
Translation adjustment	(0.4)		—		(0.4)
Balance as of December 31, 2021	829.3		740.2		1,569.5
Purchase price adjustments	0.3		—		0.3
Translation adjustment	(0.2)		—		(0.2)
Balance as of March 31, 2022	$	829.4	$	740.2	$	1,569.6

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Approximately $127.2 million of the goodwill for the 2021 acquisitions is deductible for income tax purposes.

Acquired identifiable intangible assets consisted of the following (in millions):

		March 31, 2022						December 31, 2021
	Estimated Useful Life in Years	Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization		Net Carrying Amount
Customer and contractual relationships	7 - 13	$	493.8	$	272.0	$	221.8	$	493.9	$	260.2	$	233.7
Contractor relationships	4	45.4		45.4		—		45.5		45.5		—
Contract Backlog	1 - 3	34.7		31.9		2.8		34.8		31.0		3.8
Non-compete agreements	1 - 7	29.4		22.6		6.8		29.4		21.6		7.8
		603.3		371.9		231.4		603.6		358.3		245.3
Not subject to amortization:
Trademarks		242.6		—		242.6		242.6		—		242.6
Total		$	845.9	$	371.9	$	474.0	$	846.2	$	358.3	$	487.9

Estimated future amortization expense follows (in millions): 

Remainder of 2022	$	40.5
2023	44.5
2024	35.2
2025	28.7
2026	25.1
Thereafter	57.4
	$	231.4