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Goodwill and Intangible Assets | 9 Months Ended
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Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets | Goodwill and Intangible Assets The following table summarizes changes in our goodwill balance by segment:
| A&C |  | Core |  | Total
Balance at December 31, 2022 | $ | 1,497.0 |  |  | $ | 2,039.9 |  |  | $ | 3,536.9 |
Impact of foreign currency translation | (2.6) |  |  | (3.7) |  |  | (6.3) |
Less: goodwill related to disposition of businesses | — |  |  | (3.3) |  |  | (3.3) |
Other adjustments | — |  |  | (3.9) |  |  | (3.9) |
Balance at September 30, 2023 | $ | 1,494.4 |  |  | $ | 2,029.0 |  |  | $ | 3,523.4 |
Intangible assets, net are summarized as follows:
| September 30, 2023
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Indefinite-lived intangible assets: |  |  |  |  |
Trade names and branding | $ | 445.0 |  |  | n/a |  | $ | 445.0 |
Domain portfolio | 240.8 |  |  | n/a |  | 240.8 |
Contractual-based assets | 292.7 |  |  | n/a |  | 292.7 |
Finite-lived intangible assets: |  |  |  |  |
Customer-related | 446.4 |  |  | $ | (326.3) |  |  | 120.1 |
Developed technology | 243.4 |  |  | (196.7) |  |  | 46.7 |
Trade names and other | 102.5 |  |  | (60.3) |  |  | 42.2 |
| $ | 1,770.8 |  |  | $ | (583.3) |  |  | $ | 1,187.5 |
| December 31, 2022
| Gross Carrying Amount |  | Accumulated Amortization |  | Net Carrying Amount
Indefinite-lived intangible assets: |  |  |  |  |
Trade names and branding | $ | 445.0 |  |  | n/a |  | $ | 445.0 |
Domain portfolio | 243.2 |  |  | n/a |  | 243.2 |
Contractual-based assets | 256.8 |  |  | n/a |  | 256.8 |
Finite-lived intangible assets: |  |  |  |  |
Customer-related | 487.7 |  |  | $ | (309.0) |  |  | 178.7 |
Developed technology | 243.9 |  |  | (171.1) |  |  | 72.8 |
Trade names and other | 109.8 |  |  | (54.1) |  |  | 55.7 |
| $ | 1,786.4 |  |  | $ | (534.2) |  |  | $ | 1,252.2 |
During the nine months ended September 30, 2023, we completed two purchases of indefinite-lived domain portfolio intangible assets and related finite-lived customer-related intangible assets for a total of $35.4 million in cash and a variable earn-out of up to $4.0 million. Amortization expense was $24.0 million and $31.8 million for the three months ended September 30, 2023 and 2022, respectively, and was $82.8 million and $96.7 million for the nine months ended September 30, 2023 and 2022, respectively. As of September 30, 2023, the weighted-average remaining amortization period for amortizable intangible assets was 30 months for customer-related, 26 months for developed technology and 47 months for trade names and other, and was 33 months in total. Based on the balance of finite-lived intangible assets as of September 30, 2023, expected future amortization expense is as follows:
Year Ending December 31: |
2023 (remainder of) | $ | 21.8 |
2024 | 81.3 |
2025 | 73.7 |
2026 | 24.6 |
2027 | 4.4 |
Thereafter | 3.2 |
| $ | 209.0 |

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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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