v3.23.3
Goodwill and Intangible Assets (Tables)
 9 Months Ended
Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of changes in goodwill
The changes in the gross carrying value of goodwill and accumulated impairment losses are presented in the table below by segment.
Americas
EMEA&APAC(1)
Consolidated
(In millions)
Gross carrying value of goodwill$6,790.4 $1,387.6 $8,178.0 
Accumulated impairment losses(1,498.5)(1,387.6)(2,886.1)
Balance as of December 31, 2022$5,291.9 $— $5,291.9 
Acquisition (2)
29.3 — 29.3 
Foreign currency translation, net(0.4)— (0.4)
Gross carrying value of goodwill6,818.2 1,384.7 8,202.9 
Accumulated impairment losses(1,497.4)(1,384.7)(2,882.1)
Balance as of September 30, 2023$5,320.8 $— $5,320.8 
(1)The EMEA&APAC goodwill balance was fully impaired during the year ended December 31, 2020. Subsequent changes in the gross carrying value of goodwill and accumulated impairment loss balances are due to fluctuations in foreign currency exchange rates, which are presented net in the table above.
(2)Goodwill acquired in the Americas was related to the Blue Run acquisition as discussed above in Note 1, "Basis of Presentation and Summary of Significant Accounting Policies". The goodwill acquired is not deductible for tax purposes.
Schedule of finite-lived intangible assets
The following table presents details of our intangible assets, other than goodwill, as of September 30, 2023:
Useful lifeGrossAccumulated
amortization		Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
 10 - 50
$4,934.9 $(1,561.1)$3,373.8 
License agreements and distribution rights
 10 - 20
201.9 (113.5)88.4 
Other
 5 - 40
84.6 (25.2)59.4 
Intangible assets not subject to amortization    
Brands Indefinite8,137.9 — 8,137.9 
Distribution networks Indefinite745.1 — 745.1 
Other Indefinite307.6 — 307.6 
Total $14,412.0 $(1,699.8)$12,712.2 
The following table presents details of our intangible assets, other than goodwill, as of December 31, 2022:
Useful lifeGrossAccumulated
amortization		Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
10 - 50
$4,861.1 $(1,416.7)$3,444.4 
License agreements and distribution rights
15 - 20
200.0 (108.0)92.0 
Other
5 - 40
88.8 (27.7)61.1 
Intangible assets not subject to amortization    
BrandsIndefinite8,148.6 — 8,148.6 
Distribution networksIndefinite746.4 — 746.4 
OtherIndefinite307.6 — 307.6 
Total $14,352.5 $(1,552.4)$12,800.1 
Schedule of indefinite-lived intangible assets
The following table presents details of our intangible assets, other than goodwill, as of September 30, 2023:
Useful lifeGrossAccumulated
amortization		Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
 10 - 50
$4,934.9 $(1,561.1)$3,373.8 
License agreements and distribution rights
 10 - 20
201.9 (113.5)88.4 
Other
 5 - 40
84.6 (25.2)59.4 
Intangible assets not subject to amortization    
Brands Indefinite8,137.9 — 8,137.9 
Distribution networks Indefinite745.1 — 745.1 
Other Indefinite307.6 — 307.6 
Total $14,412.0 $(1,699.8)$12,712.2 
The following table presents details of our intangible assets, other than goodwill, as of December 31, 2022:
Useful lifeGrossAccumulated
amortization		Net
 (Years)(In millions)
Intangible assets subject to amortization    
Brands
10 - 50
$4,861.1 $(1,416.7)$3,444.4 
License agreements and distribution rights
15 - 20
200.0 (108.0)92.0 
Other
5 - 40
88.8 (27.7)61.1 
Intangible assets not subject to amortization    
BrandsIndefinite8,148.6 — 8,148.6 
Distribution networksIndefinite746.4 — 746.4 
OtherIndefinite307.6 — 307.6 
Total $14,352.5 $(1,552.4)$12,800.1 
Schedule of future amortization expense
Based on foreign exchange rates as of September 30, 2023, the estimated future amortization expense of intangible assets is as follows:
Fiscal yearAmount
(In millions)
2023 - remaining$52.4 
2024$208.4 
2025$208.4 
2026$189.9 
2027$125.5