NOTE 5—GOODWILL AND INTANGIBLE ASSETS The following table summarizes the changes in goodwill by reporting unit: | | | | | | | | | | (In millions) | | U.S.
Markets | | International
Markets | | Total | Balance December 31, 2018 | | $ | 3,072.6 | | $ | 1,716.1 | | $ | 4,788.7 | Currency translation adjustment | | | — | | | 0.4 | | | 0.4 | Balance December 31, 2019 | | $ | 3,072.6 | | $ | 1,716.5 | | $ | 4,789.1 | Impairment adjustment March 31, 2020 | | | (1,124.9) | | | (619.4) | | | (1,744.3) | Impairment adjustment September 30, 2020 | | | (151.2) | | | (5.6) | | | (156.8) | Impairment adjustment December 31, 2020 | | | — | | | (405.3) | | | (405.3) | Baltics disposition-Latvia | | | — | | | (7.9) | | | (7.9) | Currency translation adjustment | | | — | | | 72.5 | | | 72.5 | Balance December 31, 2020 | | $ | 1,796.5 | | $ | 750.8 | | $ | 2,547.3 |
Detail of other intangible assets is presented below: | | | | | | | | | | | | | | | | | | | | December 31, 2020 | | December 31, 2019 | | | | | | Gross | | | | | Gross | | | | | | | Remaining | | Carrying | | Accumulated | | Carrying | | Accumulated | | (In millions) | | Useful Life | | Amount | | Amortization | | Amount | | Amortization | | Amortizable Intangible Assets: | | | | | | | | | | | | | | | | Management contracts and franchise rights | | 1 to 6 years | | $ | 12.0 | | $ | (9.8) | | $ | 11.8 | | $ | (7.9) | | Non-compete agreement | | | | | 2.6 | | | (2.6) | | | 2.6 | | | (2.1) | | Starplex trade name | | 6 years | | | 7.9 | | | (3.4) | | | 7.9 | | | (2.6) | | Carmike trade name | | 3 years | | | 9.3 | | | (5.3) | | | 9.3 | | | (4.0) | | NCM tax receivable agreement | | | | | 20.9 | | | (20.9) | | | 20.9 | | | (6.2) | | Total, amortizable | | | | $ | 52.7 | | $ | (42.0) | | $ | 52.5 | | $ | (22.8) | | Non-amortizing Intangible Assets: | | | | | | | | | | | | | | | | AMC trademark | | | | $ | 104.4 | | | | | $ | 104.4 | | | | | Odeon trade names | | | | | 40.7 | | | | | | 50.7 | | | | | Nordic trade names | | | | | 7.4 | | | | | | 10.5 | | | | | Total, unamortizable | | | | $ | 152.5 | | | | | $ | 165.6 | | | | |
See the impairment table in Note 1—The Company and Significant Accounting Policies for information regarding indefinite and definite-lived intangible assets impairment amounts. Amortization expense associated with the intangible assets noted above is as follows: | | | | | | | | | | | | | Year Ended | | (In millions) | | December 31, 2020 | | December 31, 2019 | | December 31, 2018 | | Recorded amortization | | $ | 4.5 | | $ | 5.1 | | $ | 19.2 | |
Estimated annual amortization for the next five calendar years for intangible assets is projected below: | | | | | | | | | | | | | | | | (In millions) | | 2021 | | 2022 | | 2023 | | 2024 | | 2025 | Projected annual amortization | | $ | 3.6 | | $ | 2.6 | | $ | 2.2 | | $ | 1.0 | | $ | 1.0 |
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