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GOODWILL AND INTANGIBLE ASSETS | 6 Months Ended
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Jun. 30, 2025
Goodwill and Intangible Assets Disclosure [Abstract] |
GOODWILL AND INTANGIBLE ASSETS | GOODWILL AND INTANGIBLE ASSETS. Goodwill and intangible assets consist of the following:
(in millions) | 6/30/2025 |  | 12/31/2024
Goodwill | $ | 2,642.8 |  |  | $ | 2,642.8 |
Indefinite-lived intangible asset - trade name | 86.0 |  |  | 86.0 |
Indefinite-lived intangible asset - investment advisory agreement | 62.3 |  |  | 65.6 |
Definite-lived intangible assets - investment advisory agreements | 168.6 |  |  | 216.5 |
Total | $ | 2,959.7 |  |  | $ | 3,010.9 |
Amortization and impairment expense for the definite-lived intangible assets was $23.5 million and $47.9 million for the three- and six- months ended June 30, 2025, respectively. For the three- and six- months ended June 30, 2024, amortization and impairment expense for the definite-lived intangible assets was $27.2 million and $52.7 million, respectively. Estimated amortization expense for the definite-lived intangible assets for the five succeeding years is as follows:
(in millions) |
Remaining 2025 | $ | 41.4 |
2026 | 55.9 |
2027 | 39.1 |
2028 | 11.8 |
2029 | 8.8 |
We evaluate the carrying amount of goodwill and indefinite-lived intangible assets for possible impairment on an annual basis in the fourth quarter or if triggering events occur that require us to evaluate for impairment earlier. No triggering event occurred for goodwill in 2025, while we recorded an immaterial impairment related to the indefinite-lived investment advisory agreement intangible asset for the three months ended June 30, 2025.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-30/tableOfContent Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/350-20/tableOfContent + Details
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