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GOODWILL AND INTANGIBLE ASSETS, NET | 3 Months Ended
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Mar. 31, 2022
GOODWILL AND INTANGIBLE ASSETS, NET |
GOODWILL AND INTANGIBLE ASSETS, NET | 8. 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, 2021 | ​ | $ | 305.8 | ​ | $ | 1,876.9 | ​ | $ | 575.5 | ​ | $ | 267.2 | ​ | $ | 3,025.4
Changes in foreign currency exchange rates | ​ |  | — | ​ |  | 0.6 | ​ |  | (7.9) | ​ |  | — | ​ |  | (7.3)
Balance as of March 31, 2022 | ​ | $ | 305.8 | ​ | $ | 1,877.5 | ​ | $ | 567.6 | ​ | $ | 267.2 | ​ | $ | 3,018.1
​ 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, 2021 | ​ | $ | 159.1 | ​ | $ | 991.4 | ​ | $ | 426.4 | ​ | $ | 91.7 | ​ | $ | 1,668.6
Amortization | ​ |  | (3.4) | ​ |  | (15.2) | ​ |  | (6.9) | ​ | ​ | (5.1) | ​ |  | (30.6)
Changes in foreign currency exchange rates | ​ |  | — | ​ |  | 0.5 | ​ | ​ | (9.9) | ​ |  | — | ​ |  | (9.4)
Balance as of March 31, 2022 | ​ | $ | 155.7 | ​ | $ | 976.7 | ​ | $ | 409.6 | ​ | $ | 86.6 | ​ | $ | 1,628.6
​ For the three months ended March 31, 2022 and 2021, amortization expense was $30.6 million and $32.9 million, respectively. The estimated future amortization expense is $85.2 million for the remainder of 2022, $102.5 million for 2023, $79.1 million for 2024, $68.6 million for 2025, and $61.2 million for 2026. The following tables present the categories of intangible assets as of March 31, 2022 and December 31, 2021 (in millions, except as stated):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | March 31, 2022 | ​ | Weighted
​ | ​ | ​ | ​ | ​ | North | ​ | Europe | ​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | American | ​ | and Asia | ​ | ​ | ​ | ​ | Amortization
​ |  | Options |  | Equities |  | Pacific |  | Global FX |  | Period (in years)
Trading registrations and licenses | ​ | $ | 95.5 | ​ | $ | 592.4 | ​ | $ | 215.3 | ​ | $ | — | ​ | Indefinite
Customer relationships | ​ |  | 46.6 | ​ |  | 378.6 | ​ |  | 227.1 | ​ |  | 140.0 | ​ | 17
Market data customer relationships | ​ |  | 53.6 | ​ |  | 322.0 | ​ |  | 63.4 | ​ |  | 64.4 | ​ | 10
Technology | ​ |  | 28.1 | ​ |  | 41.1 | ​ |  | 34.8 | ​ |  | 22.5 | ​ | 4
Trademarks and tradenames | ​ |  | 12.8 | ​ |  | 7.8 | ​ |  | 2.5 | ​ |  | 1.2 | ​ | 8
Accumulated amortization | ​ |  | (80.9) | ​ |  | (365.2) | ​ |  | (133.5) | ​ |  | (141.5) | ​ | ​
​ | ​ | $ | 155.7 | ​ | $ | 976.7 | ​ | $ | 409.6 | ​ | $ | 86.6 | ​ | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​ | Weighted
​ | ​ | ​ | ​ | ​ | North | ​ | Europe | ​ | ​ | ​ | ​ | Average
​ | ​ | ​ | ​ | American | ​ | and Asia | ​ | ​ | ​ | ​ | Amortization
​ |  | Options |  | Equities |  | 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 | ​ | ​
​

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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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