Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets:

The following table shows changes in the carrying amount of Goodwill (in millions):


	Amount
Goodwill as of December 31, 2020	$	1,228.2
Acquisitions	8.8


Goodwill as of December 31, 2021	1,237.0
Acquisitions	26.2

Goodwill as of December 31, 2022	1,263.2
Acquisitions	18.1

Goodwill as of December 31, 2023	$	1,281.3

Goodwill increased in 2021, 2022 and 2023 as a result of our acquisitions of inpatient rehabilitation operations. For additional information on these acquisitions, see Note 3, Business Combinations.

We performed impairment reviews as of October 1, 2023, 2022, and 2021 and concluded no Goodwill impairment existed. As of December 31, 2023, we had no accumulated impairment losses related to Goodwill.

The following table provides information regarding our other intangible assets (in millions):


	Gross Carrying Amount		Accumulated Amortization		Net
Certificates of need:
2023	$	120.9	$	(43.1)	$	77.8
2022	120.4		(41.5)		78.9
Licenses:
2023	$	65.7	$	(55.4)	$	10.3
2022	65.7		(54.3)		11.4
Noncompete agreements:
2023	$	66.7	$	(62.0)	$	4.7
2022	66.2		(60.2)		6.0
Trade name - Encompass:
2023	$	135.2	$	—	$	135.2
2022	135.2		—		135.2
Trade names - all other:
2023	$	39.3	$	(22.2)	$	17.1
2022	37.5		(20.8)		16.7
Internal-use software:
2023	$	198.6	$	(166.4)	$	32.2
2022	183.2		(150.3)		32.9
Market access assets:
2023	$	13.2	$	(12.3)	$	0.9
2022	13.2		(12.0)		1.2
Total intangible assets:
2023	$	639.6	$	(361.4)	$	278.2
2022	621.4		(339.1)		282.3

Amortization expense for other intangible assets is as follows (in millions):


	For the Year Ended December 31,
	2023		2022		2021
Amortization expense	$	32.5	$	28.8	$	31.2

Total estimated amortization expense for our other intangible assets for the next five years is as follows (in millions):


Year Ending December 31,	Estimated Amortization Expense
2024	$	21.3
2025	15.7
2026	13.3
2027	11.6
2028	10.8