XML 27 R18.htm IDEA: XBRL DOCUMENT
v3.23.2

Note 8 - Goodwill and Intangible Assets | 6 Months Ended
--- | ---
Jun. 30, 2023
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, 2022 through June 30, 2023, for our Insurance operating segment:
|  | Insurance |
Goodwill at December 31, 2022 |  | $ | 1,676.0 |
Acquisitions(1) |  |  | 57.7 |
Purchase accounting reclassifications |  |  | (0.1 | )
Foreign currency translation adjustment |  |  | 21.6 |
Goodwill at June 30, 2023 |  | $ | 1,755.2 |
_______________ (1) See Note 6. Acquisitions for more information. 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. When evaluating goodwill for impairment, we may decide to first perform a qualitative assessment, or “Step Zero” impairment test, to determine whether it is more likely than not that impairment has occurred. The qualitative assessment includes a review of macroeconomic conditions, industry and market considerations, internal cost factors, and our own overall financial and share price performance, among other factors. If we do not perform a qualitative assessment, or if we determine that it is more likely than not that the carrying amounts of our reporting units exceeds their fair value, we perform a quantitative assessment and calculate the estimated fair value of the respective reporting unit. If the carrying amount of a reporting unit’s goodwill exceeds the fair value of that goodwill, an impairment loss is recognized. As of June 30, 2023, we completed our Step Zero impairment test at the reporting unit level and determined it was not more likely than not that the carrying values of our reporting units exceeded their fair values. We did not recognize any additional impairment charges related to our goodwill and indefinite-lived intangible assets. There were no impairments to long lived assets for the three months ended June 30, 2023 and 2022. Impairments to long-lived assets for the six months ended June 30, 2023 and 2022 were $0.0 million and $73.7 million, respectively, and are included within "Other operating loss (income), net" in our condensed consolidated statements of operations. Our intangible assets and related accumulated amortization consisted of the following:
|  | Weighted Average Useful Life (in years) |  |  | Cost |  |  | Accumulated Amortization |  |  | Net |
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Technology-based |  |  | 8 |  |  | $ | 369.3 |  |  | $ | (245.8 | ) |  | $ | 123.5 |
Marketing-related |  |  | 6 |  |  |  | 42.6 |  |  |  | (37.4 | ) |  |  | 5.2 |
Contract-based |  |  | 6 |  |  |  | 5.0 |  |  |  | (5.0 | ) |  |  | — |
Customer-related |  |  | 13 |  |  |  | 540.3 |  |  |  | (169.3 | ) |  |  | 371.0 |
Database-based |  |  | 8 |  |  |  | 15.2 |  |  |  | (6.9 | ) |  |  | 8.3 |
Total intangible assets |  |  |  |  |  | $ | 972.4 |  |  | $ | (464.4 | ) |  | $ | 508.0 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Technology-based |  |  | 8 |  |  | $ | 355.1 |  |  | $ | (229.3 | ) |  | $ | 125.8 |
Marketing-related |  |  | 6 |  |  |  | 41.3 |  |  |  | (35.5 | ) |  |  | 5.8 |
Contract-based |  |  | 6 |  |  |  | 5.0 |  |  |  | (5.0 | ) |  |  | — |
Customer-related |  |  | 13 |  |  |  | 510.7 |  |  |  | (146.7 | ) |  |  | 364.0 |
Database-based |  |  | 8 |  |  |  | 15.0 |  |  |  | (5.8 | ) |  |  | 9.2 |
Total intangible assets |  |  |  |  |  | $ | 927.1 |  |  | $ | (422.3 | ) |  | $ | 504.8 |
Amortization expense related to intangible assets for the three months ended June 30, 2023 and 2022 was $18.8 million and $18.3 million, respectively. Amortization expense related to intangible assets for six months ended June 30, 2023 and 2022 was $36.5 million and $39.5 million, respectively. Estimated amortization expense for the remainder of 2023 and the years through 2028 and thereafter for intangible assets subject to amortization is as follows:
Years Ending |  | Amount |
2023 |  | $ | 37.1 |
2024 |  |  | 71.7 |
2025 |  |  | 62.6 |
2026 |  |  | 60.7 |
2027 |  |  | 52.4 |
2028 and thereafter |  |  | 223.5 |
Total |  | $ | 508.0 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 350 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//350/tableOfContent + Details
Name: | us-gaap_GoodwillAndIntangibleAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration