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Note 12 - Goodwill and Intangible Assets

12 Months Ended

Dec. 31, 2020

Goodwill and Intangible Assets Disclosure [Text Block]

We completed the required annual impairment test as of June 30, 2020, 2019 and 2018, which resulted in no impairment of goodwill. Based on the results of our impairment assessment as of June 30, 2020, we determined that the fair value of our reporting units exceeded their respective carrying value. There were no goodwill impairment indicators after the date of the last annual impairment test.

The following is a summary of the change in goodwill from December 31, 2018 through December 31, 2020, both in total and as allocated to our operating segments:

	*Insurance*			*Energy and specialized markets*			*Financial services*			*Total*
Goodwill at December 31, 2018	$	833.8		$	2,054.7		$	473.0		$	3,361.5
Acquisitions		161.0			288.5			4.0			453.5
Businesses held for sale and disposition		(7.9	)		—			(0.7	)		(8.6	)
Purchase accounting reclassifications		(1.4	)		—			(0.1	)		(1.5	)
Foreign currency translation adjustment		13.3			46.3			(0.2	)		59.4
Goodwill at December 31, 2019		998.8			2,389.5			476.0			3,864.3
Acquisitions		171.7			—			—			171.7
Purchase accounting reclassifications		2.1			(6.0	)		(0.2	)		(4.1	)
Current period adjustment ⁽¹⁾		21.4			(19.5	)		—			1.9
Foreign currency translation adjustment		14.6			59.6			0.1			74.3
Goodwill at December 31, 2020	$	1,208.6		$	2,423.6		$	475.9		$	4,108.1

____________

⁽¹⁾Of which $19.5 million relates to a segment reclassification, refer to Note 19. Segment Reporting

Our intangible assets and related accumulated amortization consisted of the following:

	*Weighted*
	*Average*
	*Useful Life*			*Accumulated*
	*(in years)*	*Cost*		*Amortization*			*Net*
December 31, 2020
Technology-based	7	$	559.6		(349.5	)	$	210.1
Marketing-related	16		275.2		(113.4	)	$	161.8
Contract-based	6		5.0		(5.0	)	$	—
Customer-related	13		1,004.3		(354.2	)	$	650.1
Database-based	19		501.0		(138.2	)	$	362.8
Total intangible assets		$	2,345.1	$	(960.3	)	$	1,384.8
December 31, 2019
Technology-based	7	$	519.2	$	(291.9	)	$	227.3
Marketing-related	16		265.3		(94.3	)		171.0
Contract-based	6		5.0		(5.0	)		—
Customer-related	13		901.2		(278.0	)		623.2
Database-based	19		484.6		(107.2	)		377.4
Total intangible assets		$	2,175.3	$	(776.4	)	$	1,398.9

Amortization expense related to intangible assets for the years ended December 31, 2020, 2019 and 2018, was $165.9 million, $138.0 million, and $130.8 million, respectively. Estimated amortization expense in future periods through 2025 and thereafter for intangible assets subject to amortization is as follows:

Years Ending	*Amount*
2021	$	169.9
2022		156.9
2023		144.3
2024		139.4
2025		114.7
2026 and thereafter		659.6
Total	$	1,384.8