GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS.

Goodwill and intangible assets consist of the following:


(in millions)	9/30/2023		12/31/2022
Goodwill	$	2,642.8	$	2,642.8
Indefinite-lived intangible assets - trade name	117.1		117.1
Indefinite-lived intangible assets - investment advisory agreements	65.6		65.6
Definite-lived intangible assets - investment advisory agreements	359.7		447.1
Total	$	3,185.2	$	3,272.6

Amortization and impairment expense for the definite-lived investment advisory agreements intangible assets was $35.0 million and $87.4 million for the three- and nine-months ended September 30, 2023, respectively. For the three- and nine-months ended September 30, 2022, amortization expense for the definite-lived investment advisory agreements intangible assets was $27.1 million and $81.4 millions, respectively. Estimated amortization expense for the definite-lived investment advisory agreements intangible assets for the remainder of 2023 is $26.8 million, $89.2 million for 2024, $87.8 million for 2025, $70.8 million for 2026, and $48.7 million for 2027.

We evaluate the carrying amount of goodwill in our unaudited condensed consolidated balance sheets for possible impairment on an annual basis in the fourth quarter of each year or if triggering events occur that require us to evaluate for impairment earlier. We did not record any impairment charges for goodwill in either the three or nine months ended September 30, 2023.