XML 44 R20.htm IDEA: XBRL DOCUMENT
v3.22.0.1

GOODWILL AND INTANGIBLE ASSETS | 12 Months Ended
--- | ---
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS. Goodwill and intangible assets consist of the following:
(in millions) | As of December 31,
| 2021 |  | 2020
Goodwill | $ | 2,693.2 |  |  | $ | 665.7 |
Indefinite-lived intangible assets - trade name | 134.7 |  |  | — |
Indefinite-lived intangible assets - investment advisory agreements | 164.8 |  |  | — |
Definite-lived intangible assets - investment advisory agreements | 613.9 |  |  | — |
Total | $ | 3,606.6 |  |  | $ | 665.7 |
The estimated weighted average life for the definite-lived intangible assets is 6.1 years. Estimated amortization expense for the definite-lived investment advisory agreements intangible assets for 2022 through 2026 is $108.5 million for 2022, $108.1 million for 2023, $105.7 million for 2024, $105.0 million for 2025 and $87.7 million for 2026. Due to the timing of the acquisition of OHA, there was no amortization expense for acquisition intangible assets included in the consolidated statements of income for the year ended December 31, 2021. Goodwill activity during the years ended December 31, 2021 and 2020, was as follows:
(in millions) | 2021 |  | 2020
Balance, beginning of the year | $ | 665.7 |  |  | $ | 665.7 |
Acquisition of OHA | 2,027.5 |  |  | — |
Balance, end of year | $ | 2,693.2 |  |  | $ | 665.7 |
For the goodwill held prior to the acquisition of OHA, we evaluate the carrying amount of goodwill in our consolidated balance sheets for possible impairment on an annual basis in the third quarter of each year using a fair value approach.

X
- References No definition available. + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration