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GOODWILL AND INTANGIBLE ASSETS, NET | 12 Months Ended
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Dec. 31, 2021
GOODWILL AND INTANGIBLE ASSETS, NET |
GOODWILL AND INTANGIBLE ASSETS, NET | 10. GOODWILL AND INTANGIBLE ASSETS, NET The following table presents the details of goodwill by segment (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | North American | ​ | Europe and | ​ | ​ | ​ | ​ | ​ | ​ |
​ |  | Options |  | Equities |  | Asia Pacific |  | Global FX |  | Total |
Balance as of December 31, 2019 | ​ | $ | 239.4 | ​ | $ | 1,740.4 | ​ | $ | 435.1 | ​ | $ | 267.2 | ​ | $ | 2,682.1 | ​
Additions | ​ | ​ | 66.4 | ​ | ​ | 134.8 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 201.2 | ​
Changes in foreign currency exchange rates | ​ |  | — | ​ |  | 2.1 | ​ |  | 9.7 | ​ | ​ | — | ​ |  | 11.8 | ​
Balance as of December 31, 2020 | ​ | $ | 305.8 | ​ | $ | 1,877.3 | ​ | $ | 444.8 | ​ | $ | 267.2 | ​ | $ | 2,895.1 | ​
Adjustment | ​ | ​ | — | ​ | ​ | (0.5) | ​ | ​ | (0.4) | ​ | ​ | — | ​ | ​ | (0.9) | ​
Additions | ​ |  | — | ​ | ​ | — | ​ | ​ | 134.0 | ​ | ​ | — | ​ |  | 134.0 | ​
Changes in foreign currency exchange rates | ​ |  | — | ​ | ​ | 0.1 | ​ | ​ | (2.9) | ​ | ​ | — | ​ |  | (2.8) | ​
Balance as of December 31, 2021 | ​ | $ | 305.8 | ​ | $ | 1,876.9 | ​ | $ | 575.5 | ​ | $ | 267.2 | ​ | $ | 3,025.4 | ​
​ Goodwill has been allocated to specific reporting units for purposes of impairment testing - Options, North American Equities, Europe and Asia Pacific and Global FX. No goodwill has been allocated to Futures. Goodwill impairment testing is performed annually in the fiscal fourth quarter or more frequently if conditions exist that indicate that the asset may be impaired. The following table presents the details of the intangible assets (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | North American | ​ | Europe and | ​ | ​ | ​ | ​ | ​ | ​ |
​ |  | Options |  | Equities |  | Asia Pacific |  | Global FX |  | Total |
Balance as of December 31, 2019 | ​ | $ | 166.6 | ​ | $ | 921.4 | ​ | $ | 363.7 | ​ | $ | 138.2 | ​ | $ | 1,589.9 | ​
Additions | ​ |  | 22.3 | ​ |  | 193.1 | ​ |  | 32.3 | ​ |  | — | ​ | ​ | 247.7 | ​
Amortization | ​ |  | (15.5) | ​ | ​ | (61.0) | ​ | ​ | (23.4) | ​ | ​ | (24.9) | ​ |  | (124.8) | ​
Changes in foreign currency exchange rates | ​ |  | — | ​ | ​ | 2.0 | ​ | ​ | 14.2 | ​ | ​ | — | ​ |  | 16.2 | ​
Balance as of December 31, 2020 | ​ | $ | 173.4 | ​ | $ | 1,055.5 | ​ | $ | 386.8 | ​ | $ | 113.3 | ​ | $ | 1,729.0 | ​
Additions | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 73.8 | ​ | ​ | — | ​ | ​ | 73.8 | ​
Amortization | ​ |  | (14.3) | ​ | ​ | (64.4) | ​ | ​ | (26.3) | ​ | ​ | (21.6) | ​ |  | (126.6) | ​
Changes in foreign currency exchange rates | ​ |  | — | ​ | ​ | 0.3 | ​ | ​ | (7.9) | ​ | ​ | — | ​ |  | (7.6) | ​
Balance as of December 31, 2021 | ​ | $ | 159.1 | ​ | $ | 991.4 | ​ | $ | 426.4 | ​ | $ | 91.7 | ​ | $ | 1,668.6 | ​
​ For the years ended December 31, 2021, 2020 and 2019, amortization expense was $126.6 million, $124.8 million and $138.6 million, respectively. The estimated future amortization expense is $116.1 million for 2022, $103.0 million for 2023, $79.5 million for 2024, $68.9 million for 2025, and $61.5 million for 2026. The following tables present the categories of intangible assets at December 31, 2021 and 2020 (in millions):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | December 31, 2021 | ​ | Average
​ | ​ | ​ | ​ | North American | ​ | Europe and | ​ | ​ | ​ | ​ | Amortization
​ |  | Options |  | Equities |  | Asia Pacific |  | Global FX |  | Period (in years)
Trading registrations and licenses | ​ | $ | 95.5 | ​ | $ | 592.0 | ​ | $ | 221.1 | ​ | $ | — | ​ | Indefinite
Customer relationships | ​ |  | 46.6 | ​ | ​ | 378.3 | ​ | ​ | 232.3 | ​ | ​ | 140.0 | ​ | 17
Market data customer relationships | ​ |  | 53.6 | ​ | ​ | 322.0 | ​ | ​ | 65.2 | ​ | ​ | 64.4 | ​ | 10
Technology | ​ |  | 28.1 | ​ | ​ | 41.1 | ​ | ​ | 35.6 | ​ | ​ | 22.5 | ​ | 5
Trademarks and tradenames | ​ |  | 12.9 | ​ | ​ | 7.8 | ​ | ​ | 2.5 | ​ | ​ | 1.2 | ​ | 8
Accumulated amortization | ​ |  | (77.6) | ​ | ​ | (349.8) | ​ | ​ | (130.3) | ​ | ​ | (136.4) | ​ | ​
​ | ​ | $ | 159.1 | ​ | $ | 991.4 | ​ | $ | 426.4 | ​ | $ | 91.7 | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Weighted
​ | ​ | December 31, 2020 | ​ | Average
​ | ​ | ​ | ​ | North American | ​ | Europe and | ​ | ​ | ​ | ​ | Amortization
​ |  | Options |  | Equities |  | Asia Pacific |  | Global FX |  | Period (in years)
Trading registrations and licenses | ​ | $ | 95.5 | ​ | $ | 592.0 | ​ | $ | 219.3 | ​ | $ | — | ​ | Indefinite
Customer relationships | ​ |  | 46.6 | ​ | ​ | 378.3 | ​ | ​ | 175.7 | ​ | ​ | 140.0 | ​ | 16
Market data customer relationships | ​ |  | 53.6 | ​ | ​ | 322.0 | ​ | ​ | 65.9 | ​ | ​ | 64.4 | ​ | 11
Technology | ​ |  | 28.1 | ​ | ​ | 41.1 | ​ | ​ | 28.6 | ​ | ​ | 22.5 | ​ | 5
Trademarks and tradenames | ​ |  | 12.9 | ​ | ​ | 7.8 | ​ | ​ | 2.6 | ​ | ​ | 1.2 | ​ | 9
Accumulated amortization | ​ |  | (63.3) | ​ | ​ | (285.7) | ​ | ​ | (105.3) | ​ | ​ | (114.8) | ​ | ​
​ | ​ | $ | 173.4 | ​ | $ | 1,055.5 | ​ | $ | 386.8 | ​ | $ | 113.3 | ​ | ​
​

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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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