XML 27 R17.htm IDEA: XBRL DOCUMENT

Note 8 - Goodwill and Intangible Assets

3 Months Ended

Mar. 31, 2021

Goodwill and Intangible Assets Disclosure [Text Block]

The following is a summary of the change in goodwill from December 31, 2020 through March 31, 2021, both in total and as allocated to our operating segments:

	*Insurance*		*Energy and Specialized Markets*			*Financial Services*			*Total*
Goodwill at December 31, 2020	$	1,208.6	$	2,423.6		$	475.9		$	4,108.1
Acquisitions		20.9		—			—			20.9
Purchase accounting reclassifications		1.1		—			—			1.1
Current period adjustment ⁽¹⁾		15.8		(15.8	)		—			—
Foreign currency translation adjustment		3.1		2.6			(0.2	)		5.5
Goodwill at March 31, 2021	$	1,249.5	$	2,410.4		$	475.7		$	4,135.6

_____________

⁽¹⁾Of which $15.8 million relates to a segment reclassification, refer to Note 14. Segment Reporting

Goodwill and intangible assets with indefinite lives are subject to impairment testing annually as of June 30, or whenever events or changes in circumstances indicate that the carrying amount may not be fully recoverable. Goodwill impairment testing compares the carrying value of each reporting unit to its fair value. If the fair value of the reporting unit exceeds the carrying value of the net assets, including goodwill assigned to that reporting unit, goodwill is not impaired. If the carrying value of the reporting unit’s net assets, including goodwill, exceeds the fair value of the reporting unit, then an impairment loss is recorded for the difference between the carrying amount and the fair value of the reporting unit. We completed the required annual impairment test as of June 30, 2020, and concluded that there was no impairment of goodwill. There were no triggering events for the three months ended March 31, 2021 that would impact the results of the impairment test performed as of June 30, 2020.

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

	*Weighted Average Useful Life (in years)*	*Cost*		*Accumulated Amortization*			*Net*
March 31, 2021
Technology-based	7	$	563.8	$	(364.9	)	$	198.9
Marketing-related	15		277.5		(118.3	)		159.2
Contract-based	6		5.0		(5.0	)		—
Customer-related	13		1,013.6		(373.9	)		639.7
Database-based	18		503.9		(146.0	)		357.9
Total intangible assets		$	2,363.8	$	(1,008.1	)	$	1,355.7
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

Amortization expense related to intangible assets for the three months ended March 31, 2021 and 2020 was $45.0 million and $41.0 million, respectively. Estimated amortization expense for the remainder of 2021 and the years through 2027 and thereafter for intangible assets subject to amortization is as follows:

Years Ending	*Amount*
2021	$	135.4
2022		157.5
2023		144.8
2024		139.1
2025		114.9
2026		110.6
2027 and thereafter		553.4
Total	$	1,355.7