Page 26 - 2019 Annual Report
P. 26
NOTES TO FINANCIAL STATEMENTS (continued)
Note C: Goodwill and Other Intangible Assets
The following table shows the changes in goodwill by reportable segment and in total:
Mid‐
America Southeast West
December 31 Group Group Group Total
(in millions) 2019
Balance at beginning of period $ 431.9 $ 144.2 $ 1,823.0 $ 2,399.1
Measurement period adjustments (1.0 ) (0.6 ) — (1.6 )
Goodwill allocated to assets held for sale — (0.2 ) — (0.2 )
Divestitures — — (0.5 ) (0.5 )
Balance at end of period $ 430.9 $ 143.4 $ 1,822.5 $ 2,396.8
2018
Balance at beginning of period $ 281.4 $ 50.3 $ 1,828.6 $ 2,160.3
Acquisitions 150.5 94.8 — 245.3
Goodwill allocated to assets held for sale — — (5.6 ) (5.6 )
Divestitures — (0.9 ) — (0.9 )
Balance at end of period $ 431.9 $ 144.2 $ 1,823.0 $ 2,399.1
Intangible assets subject to amortization consist of the following:
Gross Accumulated Net
December 31 Amount Amortization Balance
(in millions) 2019
Noncompetition agreements $ 6.3 $ (6.2 ) $ 0.1
Customer relationships 65.6 (30.4 ) 35.2
Operating permits 459.0 (42.3 ) 416.7
Use rights and other 16.7 (12.1 ) 4.6
Trade names 12.8 (10.9 ) 1.9
Total $ 560.4 $ (101.9 ) $ 458.5
2018
Noncompetition agreements $ 6.3 $ (6.2 ) $ 0.1
Customer relationships 65.6 (25.6 ) 40.0
Operating permits 459.0 (36.1 ) 422.9
Use rights and other 16.7 (11.2 ) 5.5
Trade names 12.8 (9.7 ) 3.1
Total $ 560.4 $ (88.8 ) $ 471.6
Page 24 ♦ Annual Report Celebrating 25 Years as a Public Company