Goodwill allocated to our reportable segments and changes in the carrying amount of goodwill during the three months ended March 31, 2026, consisted of the following: | | | | | | | | | | | | | | | | | | | U.S. Markets | | International | | Total | | Balance, December 31, 2025 | $ | 4,311.3 | | | $ | 948.2 | | | $ | 5,259.5 | | | Business acquisitions | — | | | 547.5 | | | 547.5 | | Purchase accounting measurement period adjustments | 1.1 | | | (0.4) | | | 0.7 | | | Foreign exchange rate adjustment | 0.3 | | | (32.3) | | | (32.0) | | | Balance, March 31, 2026 | $ | 4,312.7 | | | $ | 1,463.0 | | | $ | 5,775.6 | |
The gross and net goodwill balances at each period were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | March 31, 2026 | | December 31, 2025 | | Gross Goodwill | | Accumulated Impairment | | Net Goodwill | | Gross Goodwill | | Accumulated Impairment | | Net Goodwill | U.S. Markets | $ | 4,312.7 | | | $ | — | | | $ | 4,312.7 | | | $ | 4,311.3 | | | $ | — | | | $ | 4,311.3 | | International | 1,877.0 | | | (414.0) | | | 1,463.0 | | | 1,362.2 | | | (414.0) | | | 948.2 | | Total | $ | 6,189.6 | | | $ | (414.0) | | | $ | 5,775.6 | | | $ | 5,673.5 | | | $ | (414.0) | | | $ | 5,259.5 | |
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