v3.23.2
GOODWILL AND INTANGIBLE ASSETS, NET
6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table presents goodwill by reportable segment:
(in thousands)IndexAnalyticsESG and ClimateAll Other - Private AssetsTotal
Goodwill at December 31, 2022$1,201,622 $290,976 $48,047 $689,025 $2,229,670 
Foreign exchange translation adjustment1,726 — — 1,063 2,789 
Goodwill at June 30, 2023$1,203,348 $290,976 $48,047 $690,088 $2,232,459 
Intangible Assets, Net
The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated:
Three Months Ended
June 30,
Six Months Ended
June 30,
(in thousands)2023202220232022
Amortization expense of acquired intangible assets$15,851 $15,854 $31,682 $31,752 
Amortization expense of internally developed capitalized software10,303 6,325 19,139 12,147 
Total amortization of intangible assets expense$26,154 $22,179 $50,821 $43,899 
The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows:
As of
June 30,December 31,
(in thousands)20232022
Gross intangible assets:
Customer relationships$532,500 $532,500 
Proprietary data220,778 220,778 
Acquired technology and software209,220 209,220 
Trademarks208,190 208,190 
Internally developed capitalized software202,836 165,928 
Subtotal1,373,524 1,336,616 
Foreign exchange translation adjustment(9,864)(13,214)
Total gross intangible assets$1,363,660 $1,323,402 
Accumulated amortization:
Customer relationships$(323,722)$(308,437)
Proprietary data(51,334)(41,783)
Acquired technology and software(181,891)(179,833)
Trademarks(166,832)(162,044)
Internally developed capitalized software(95,913)(77,259)
Subtotal(819,692)(769,356)
Foreign exchange translation adjustment2,457 4,471 
Total accumulated amortization$(817,235)$(764,885)
Net intangible assets:
Customer relationships$208,778 $224,063 
Proprietary data169,444 178,995 
Acquired technology and software27,329 29,387 
Trademarks41,358 46,146 
Internally developed capitalized software106,923 88,670 
Subtotal553,832 567,260 
Foreign exchange translation adjustment(7,407)(8,743)
Total net intangible assets$546,425 $558,517 
The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2023 and succeeding years:    
Years Ending December 31,
(in thousands)
Amortization
Expense
Remainder of 2023$54,950 
2024104,375 
202579,120 
202644,725 
202736,644 
Thereafter226,611 
Total$546,425