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Intangible Assets and Goodwill | 12 Months Ended
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Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Intangible Assets and Goodwill | 6. Intangible Assets and Goodwill The following table summarizes the carrying amount of intangible assets as of December 31, 2023 and 2022:
| As of December 31,
| 2023 |  | 2022
| (Dollars in millions)
Acquired contractual rights | $924.1 |  | $920.2
Accumulated amortization | (262.0) |  | (126.3)
Finite-lived intangible assets, net | 662.1 |  | 793.9
Goodwill | 104.0 |  | 103.9
Intangible Assets, net | $766.1 |  | $897.8
As of December 31, 2023, goodwill included $91.0 million related to the Company’s Global Private Equity segment in connection with the acquisition of Abingworth. The balance also included $5.5 million as of both December 31, 2023 and 2022 ass ociated with the Company’s Global Credit segment. The remaining balance consisted of $7.5 million and $7.3 million as of December 31, 2023 and 2022 associated with the Company’s Global Investment Solutions segment, respectively. As discussed in Note 2, the Company reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable, and considers factors including, but not limited to, expected cash flows from its interest in future management fees a nd the ability to raise new funds. During the year ended December 31, 2023, the Company recorded no impairment losses. During the year ended December 31, 2022, the Company recorded an impairment charge of $4.0 million on certain acquired contractual rights related to Carlyle Aviation Partners as a result of impaired income streams from aircraft under lease in Russia. No impairment losses were recorded during the year ended December 31, 2021. Intangible asset amortization expense was $135.0 million, $103.9 million and $10.2 million for the years ended December 31, 2023, 2022 and 2021, respectively, and is included in general, administrative, and other expenses in the consolidated statements of operations. Certain intangible assets are held by entities of which the functional currency is not the U.S. dollar. Any corresponding currency translation is recorded in other comprehensive income. The following table summarizes the expected amortization expense for 2024 through 2028 and thereafter (Dollars in millions):
Year ending December 31, |
2024 | $131.1
2025 | 131.1
2026 | 131.0
2027 | 120.9
2028 | 113.8
Thereafter | 34.2
| $662.1

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- 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
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