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Intangible Assets and Goodwill (Tables)

12 Months Ended

Dec. 31, 2022

Finite-Lived Intangible Assets [Line Items]

Components of intangible assets

Intangible assets consisted of the following at December 31, 2022 and 2021: 

						2022																		2021
(in millions)						Assigned Value						Accumulated Amortization						Net Book Value						Assigned Value						Accumulated Amortization						Deconsolidation(2)						Net Book Value
Amortizable Intangible Assets:
Clearing firm, market data and other customer relationships						$	4,685.8					$	(1,909.7)					$	2,776.1					$	5,818.2					$	(1,847.7)					$	(950.0)					$	3,020.5
Technology-related intellectual property						62.5						(55.8)						6.7						175.3						(76.3)						(84.6)						14.4
Other						69.5						(32.6)						36.9						105.7						(35.5)						(23.1)						47.1
Total Amortizable Intangible Assets						$	4,817.8					$	(1,998.1)					$	2,819.7					$	6,099.2					$	(1,959.5)					$	(1,057.7)					$	3,082.0
Indefinite-Lived Intangible Assets:
Trade names																		450.0																								450.0
Total Intangible Assets—Other, Net																		$	3,269.7																							$	3,532.0
Trading products (1)																		$	17,175.3																							$	17,175.3

 _______________

(1)Trading products represent futures and options products acquired in our business combinations with CBOT Holdings, Inc., NYMEX Holdings, Inc. and The Board of Trade of Kansas City, Missouri, Inc. Clearing and transaction fees are generated through the trading of these products. These trading products, most of which have traded for decades, require authorization from the CFTC. Product authorizations from the CFTC have no term limits.

(2)The activity from deconsolidation includes intangible assets as part of the contribution of the net assets of the optimization business to OSTTRA.

Weighted average useful life for the amortizable intangible assets

The originally assigned useful lives for the amortizable intangible assets as of December 31, 2022 are as follows:

Clearing firm, market data and other customer relationships			5 - 30 years
Technology-related intellectual property			5 - 9 years
Other			3 - 24.5 years

Future estimated amortization expense

As of December 31, 2022, the future estimated amortization expense related to amortizable intangible assets is expected to be as follows:  

(in millions)
2023			$	228.0
2024			221.3
2025			221.3
2026			221.3
2027			220.0
Thereafter			1,707.8

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