Finite-lived intangible assets, remaining amortization period

AMERICAN TOWER CORPORATION AND SUBSIDIARIESNOTES TO CONSOLIDATED AND CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(tabular amounts in millions, unless otherwise noted)4.    GOODWILL AND OTHER INTANGIBLE ASSETSThe changes in the carrying value of goodwill for each of the Company’s business segments were as follows:

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|   |  | Property |  | Services |  | Total |
|   |  | U.S. & Canada |  | Asia-Pacific |  | Africa |  | Europe |  | Latin America |  | Data Centers |  |
| Balance as of January 1, 2022 |  | $ | 4,648.4  |  |  | $ | 990.1  |  |  | $ | 612.2  |  |  | $ | 3,230.4  |  |  | $ | 888.6  |  |  | $ | 2,978.4  |  |  | $ | 2.0  |  |  | $ | 13,350.1  |  |
| Adjustments (1) |  | —  |  |  | —  |  |  | —  |  |  | 11.7  |  |  | 4.3  |  |  | (59.1) |  |  | —  |  |  | (43.1) |  |
| Other (2) |  | (7.4) |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | —  |  |  | (7.4) |  |
| Effect of foreign currency translation |  | (4.3) |  |  | (85.9) |  |  | (78.2) |  |  | (448.5) |  |  | 3.5  |  |  | —  |  |  | —  |  |  | (613.4) |  |
| Balance as of September 30, 2022 |  | $ | 4,636.7  |  |  | $ | 904.2  |  |  | $ | 534.0  |  |  | $ | 2,793.6  |  |  | $ | 896.4  |  |  | $ | 2,919.3  |  |  | $ | 2.0  |  |  | $ | 12,686.2  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Europe and Latin America consist of measurement period adjustments related to the Telxius Acquisition. Data Centers consists of measurement period adjustments related to the CoreSite Acquisition.(2)Other represents the goodwill associated with certain operations acquired in connection with the Company’s acquisition of InSite Wireless Group, LLC. These business operations were sold during the nine months ended September 30, 2022.  
The Company’s other intangible assets subject to amortization consisted of the following: 

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|   |   |  | As of September 30, 2022 |  | As of December 31, 2021 |
|   | Estimated UsefulLives (years)  |  | GrossCarryingValue |  | AccumulatedAmortization |  | Net BookValue |  | GrossCarryingValue |  | AccumulatedAmortization |  | Net BookValue |
| Acquired network location intangibles (1) | Up to 20 |  | $ | 6,045.8  |  |  | $ | (2,483.0) |  |  | $ | 3,562.8  |  |  | $ | 6,294.6  |  |  | $ | (2,305.1) |  |  | $ | 3,989.5  |  |
| Acquired tenant-related intangibles | Up to 20 |  | 19,004.1  |  |  | (5,676.0) |  |  | 13,328.1  |  |  | 20,030.5  |  |  | (5,051.5) |  |  | 14,979.0  |  |
| Acquired licenses and other intangibles | 2-20 |  | 1,791.3  |  |  | (361.9) |  |  | 1,429.4  |  |  | 1,807.9  |  |  | (49.2) |  |  | 1,758.7  |  |
| Total other intangible assets |  |  | $ | 26,841.2  |  |  | $ | (8,520.9) |  |  | $ | 18,320.3  |  |  | $ | 28,133.0  |  |  | $ | (7,405.8) |  |  | $ | 20,727.2  |  |

\_\_\_\_\_\_\_\_\_\_\_\_\_\_\_(1)Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease, taking into consideration lease renewal options and residual value, generally up to 20 years, as the Company considers these intangibles to be directly related to the tower assets.The acquired network location intangibles represent the value to the Company of the incremental revenue growth that could potentially be obtained from leasing the excess capacity on acquired tower communications infrastructure. The acquired tenant-related intangibles typically represent the value to the Company of tenant contracts and relationships in place at the time of an acquisition or similar transaction, including assumptions regarding estimated renewals. Other intangibles represent the value of acquired licenses, trade name and in place leases. In place lease value represents the fair value of costs avoided in securing data center customers, including vacancy periods, legal costs and commissions. In place lease value also includes assumptions on similar costs avoided upon the renewal or extension of existing leases on a basis consistent with occupancy assumptions used in the fair value of other assets.The Company amortizes its acquired intangible assets on a straight-line basis over their estimated useful lives. As of September 30, 2022, the remaining weighted average amortization period of the Company’s intangible assets was 15 years. Amortization of intangible assets for the three and nine months ended September 30, 2022 was $378.4 million and $1.3 billion, respectively. Amortization of intangible assets for the three and nine months ended September 30, 2021 was $318.0 million and $846.2 million, respectively. The increase in amortization expense is primarily due to intangible assets acquired since the beginning of the prior-year period, including as a result of the Telxius Acquisition and the CoreSite Acquisition. Based on current exchange rates, the Company expects to record amortization expense as follows over the remaining current year and the five subsequent years: 12
