The Company includes restricted cash in the Cash and cash equivalents balance reported in the consolidated statements of cash flows. The reconciliation between Cash and cash equivalents in the consolidated balance sheets and the beginning and ending balances shown in the consolidated statement of cash flows is as follows (in millions):


	September 30, 2021		December 31, 2020
Cash and cash equivalents on the consolidated balance sheets	$	1,390	$	1,959
Merchant float restricted cash (in Settlement deposits and merchant float)	2,646		2,071
Total Cash and cash equivalents per the consolidated statement of cash flows	$	4,036	$	4,030

The Company monitors trade receivables and contract assets as well as other receivable balances and estimates the allowance for lifetime expected credit losses. Estimates of expected credit losses are based on historical collection experience and other factors, including those related to current market conditions and events. The allowance for credit losses is separate from the chargeback liability described in Note 7.

While the COVID-19 pandemic did not result in a significant increase in the Company's expected credit loss allowance recorded as of September 30, 2021, it is reasonably possible that future developments related to the economic impact of the COVID-19 pandemic could have a material impact on management's estimates.

The following table shows the Company's consolidated financial statement details as of September 30, 2021, and December 31, 2020 (in millions):


	September 30, 2021						December 31, 2020
	Cost		Accumulated depreciation and amortization		Net		Cost		Accumulated depreciation and amortization		Net
Property and equipment	$	2,417	$	1,571	$	846	$	2,292	$	1,405	$	887
Intangible assets	$	18,939	$	6,899	$	12,040	$	19,141	$	5,213	$	13,928
Software	$	5,862	$	2,721	$	3,141	$	5,535	$	2,165	$	3,370

As of September 30, 2021, intangible assets, net of amortization, includes $11,717 million of customer relationships and $323 million of trademarks and other intangible assets. Amortization expense with respect to these intangible assets was $595 million and $602 million for the three months and $1,789 million and $1,794 million for the nine months ended September 30, 2021 and 2020, respectively.

During the three months ended September 30, 2021, the Company recorded $144 million of software asset impairments and $83 million of incremental software amortization expense driven by the Company's Platform initiatives. The Platform initiatives include sunsetting certain technology platforms, which results in shortened estimated useful lives and accelerated amortization methods primarily impacting the associated assets over approximately the next three years, beginning in the third quarter of 2021. See Business Trends and Conditions within Item 2 of this Quarterly Report for additional information on the Company's Platform initiatives.

Changes in goodwill during the nine months ended September 30, 2021, are summarized below (in millions).


					Capital		Corporate
	Merchant		Banking		Market		And
	Solutions		Solutions		Solutions		Other		Total
Balance, December 31, 2020	$	36,267	$	12,279	$	4,702	$	20	$	53,268
Foreign currency adjustments	(413)		(26)		(33)		—		(472)
Balance, September 30, 2021	$	35,854	$	12,253	$	4,669	$	20	$	52,796

We assess goodwill for impairment on an annual basis during the fourth quarter or more frequently if circumstances indicate potential impairment. For 2020, we completed our annual assessment for the Banking Solutions and Capital Market Solutions reporting units with qualitative assessments and concluded that it remained more likely than not that the fair value of each reporting unit continued to exceed its carrying value. For Merchant Solutions, we completed our 2020 annual assessment with a quantitative assessment due to the economic impact of the COVID-19 pandemic on our Merchant Solutions business and its primary operations having been recently acquired as part of the Worldpay acquisition completed on July 31, 2019. As a result of the annual assessment, the fair value of the reporting unit was estimated to be in excess of carrying amount by approximately 4%.

Due to the continued economic impact of the COVID-19 pandemic, we evaluated if events and circumstances as of September 30, 2021, indicated potential impairment of our reporting units. We performed a qualitative assessment by examining factors most likely to affect our reporting units' fair values and considered the impact to our business from the COVID-19 pandemic. The factors examined involve significant use of management judgment and included, among others, (1) forecast revenue, growth rates, operating margins, and capital expenditures used to calculate estimated future cash flows, (2) future economic and market conditions and (3) FIS' market capitalization. Based on our interim impairment assessment as of September 30, 2021, we concluded that it remained more likely than not that the fair value continues to exceed the carrying amount for each of our reporting units; therefore, goodwill was not impaired.

However, it is reasonably possible that future developments related to the economic impact of the COVID-19 pandemic on our Merchant Solutions business, such as an extended duration of the pandemic and/or government-imposed shutdowns,

prolonged economic downturn or recession, or lack of governmental support for recovery, could have a material impact on one or more of the estimates and assumptions used to evaluate goodwill impairment and could result in future goodwill impairment.

As part of the Worldpay acquisition, the Company acquired certain assets and liabilities related to the June 2016 Worldpay Group plc (Legacy Worldpay) disposal of its ownership interest in Visa Europe to Visa Inc. As part of the disposal, Legacy Worldpay received proceeds from Visa Inc. in the form of cash and convertible preferred stock ("preferred stock"), the value of which may be reduced by losses incurred relating to ongoing interchange-related litigation involving Visa Europe. Also in connection with the disposal, and pursuant to the terms of an amendment executed on September 17, 2020, the Company will pay the former Legacy Worldpay owners 90% of the net-of-tax proceeds from the disposal, known as contingent value rights, which is recorded as a liability ("CVR liability") on the consolidated balance sheets.

The Company has elected the fair value option under ASC 825, Financial Instruments, for measuring its preferred stock asset and CVR liability. The fair value of the preferred stock was $90 million and $70 million at September 30, 2021, and December 31, 2020, respectively, recorded in Other noncurrent assets on the consolidated balance sheets. The fair value of the CVR liability was $411 million and $401 million at September 30, 2021, and December 31, 2020, respectively, recorded in Other noncurrent liabilities on the consolidated balance sheets. The net change in fair value was $(3) million and $48 million for the three months and $12 million and $74 million for the nine months ended September 30, 2021 and 2020, respectively, recorded in Other income (expense), net on the consolidated statements of earnings (loss).