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Note 8 - Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2021
Notes to Financial Statements |
Goodwill and Intangible Assets Disclosure [Text Block] | 8. Goodwill and Intangible Assets: The following is a summary of the change in goodwill from December 31, 2020 through September 30, 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 and purchase of controlling interest |  |  | 40.6 |  |  |  | 20.4 |  |  |  | — |  |  |  | 61.0 |
Purchase accounting reclassifications |  |  | 1.1 |  |  |  | — |  |  |  | — |  |  |  | 1.1 |
Current period adjustment (1) |  |  | 15.8 |  |  |  | (15.8 | ) |  |  | — |  |  |  | — |
Foreign currency translation adjustment |  |  | (7.1 | ) |  |  | (33.1 | ) |  |  | (0.5 | ) |  |  | (40.7 | )
Goodwill at September 30, 2021 |  | $ | 1,259.0 |  |  | $ | 2,395.1 |  |  | $ | 475.4 |  |  | $ | 4,129.5 |
_____________ (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, 2021 and concluded that there was no impairment of goodwill. There were no triggering events for the three months ended September 30, 2021 that would impact the results of the impairment test performed as of June 30, 2021. Our intangible assets and related accumulated amortization consisted of the following:
| Weighted Average Useful Life (in years) |  | Cost |  |  | Accumulated Amortization |  |  | Net |
September 30, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |
Technology-based | 7 |  | $ | 561.3 |  |  | $ | (389.0 | ) |  | $ | 172.3 |
Marketing-related | 15 |  |  | 273.6 |  |  |  | (125.6 | ) |  |  | 148.0 |
Contract-based | 6 |  |  | 5.0 |  |  |  | (5.0 | ) |  |  | — |
Customer-related | 13 |  |  | 1,013.3 |  |  |  | (407.5 | ) |  |  | 605.8 |
Database-based | 18 |  |  | 496.3 |  |  |  | (157.1 | ) |  |  | 339.2 |
Total intangible assets |  | $ | 2,349.5 |  |  | $ | (1,084.2 | ) |  | $ | 1,265.3 |
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 September 30, 2021 and 2020 was $37.6 million and $41.5 million, respectively. Amortization expense related to intangible assets for the nine months ended September 30, 2021 and 2020 was $133.1 million and $123.6 million, respectively. Estimated amortization expense for the remainder of 2021 and the years through 2026 and thereafter for intangible assets subject to amortization is as follows:
Years Ending |  | Amount |
2021 |  | $ | 43.6 |
2022 |  |  | 159.5 |
2023 |  |  | 145.8 |
2024 |  |  | 140.2 |
2025 |  |  | 115.3 |
2026 and thereafter |  |  | 660.9 |
Total |  | $ | 1,265.3 |

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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