XML 22 R12.htm IDEA: XBRL DOCUMENT v3.22.2
GOODWILL AND INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS GOODWILL AND INTANGIBLE ASSETS
Acquisitions
There were no material acquisitions for the six months ended June 30, 2022, and 2021.
Goodwill
The following table summarizes the changes in the carrying amount of goodwill (in millions):
Amount
Balance as of December 31, 2021
$343.6 
Acquisition activity6.5 
Translation and other(1.0)
Balance as of June 30, 2022
$349.1 
Intangible Assets
The following table summarizes the components of gross intangible assets, accumulated amortization, and net intangible asset balances as of June 30, 2022, and December 31, 2021 (in millions):
June 30, 2022December 31, 2021
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Patents and developed technology$219.3 $(180.6)$38.7 $219.3 $(173.2)$46.1 
Distribution rights and others31.5 (21.5)10.0 26.3 (19.4)6.9 
Customer relationships33.5 (16.0)17.5 31.8 (14.3)17.5 
Total intangible assets$284.3 $(218.1)$66.2 $277.4 $(206.9)$70.5 
Amortization expense related to intangible assets was $6.2 million and $7.6 million for the three months ended June 30, 2022, and 2021, respectively. Amortization expense related to intangible assets was $12.3 million and $14.5 million for the six months ended June 30, 2022, and 2021, respectively.
The estimated future amortization expense related to intangible assets as of June 30, 2022, is as follows (in millions):
Fiscal YearAmount
Remainder of 2022
$16.0 
202319.6 
202415.6 
202510.3 
20263.3 
2027 and thereafter1.4 
Total$66.2 
The preceding expected amortization expense is an estimate. Actual amounts of amortization expense may differ from estimated amounts due to additional intangible asset acquisitions, measurement-period adjustments to intangible assets, changes in foreign currency exchange rates, impairments of intangible assets, accelerated amortization of intangible assets, and other events.