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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

The changes in the carrying amount of goodwill and accumulated impairment loss during the three months ended March 31, 2021 and year ended December 31, 2020 were as follows:

 

 

 

Three Months Ended March 31, 2021

 

 

Twelve Months Ended December 31, 2020

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

Beginning balance at January 1

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

$

1,202.8

 

 

$

(144.3

)

 

$

1,058.5

 

Impairment of goodwill(1)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(1.1

)

 

 

(1.1

)

Foreign currency translation

 

 

(4.3

)

 

 

 

 

 

(4.3

)

 

 

9.0

 

 

 

 

 

 

9.0

 

Ending balance at March 31, 2021 and December 31, 2020

 

$

1,207.5

 

 

$

(145.4

)

 

$

1,062.1

 

 

$

1,211.8

 

 

$

(145.4

)

 

$

1,066.4

 

 

 

(1)

During the twelve months ended December 31, 2020, the Company recorded $1.1 of goodwill impairment charges related to the pending closure of a facility in Europe.

Intangible Assets

Intangible Assets

Components of the Company’s intangible assets are comprised of the following:

 

As of March 31, 2021:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology

 

$

446.4

 

 

$

(0.1

)

 

$

(216.4

)

 

$

(0.1

)

 

$

229.8

 

Customer relationships

 

 

308.2

 

 

 

(1.4

)

 

 

(109.8

)

 

 

0.3

 

 

 

197.3

 

Patents, trademarks, trade names and other

 

 

120.9

 

 

 

 

 

 

(49.4

)

 

 

(0.2

)

 

 

71.3

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(375.6

)

 

$

 

 

$

498.4

 

 

As of December 31, 2020:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology

 

$

446.4

 

 

$

(0.1

)

 

$

(209.8

)

 

$

(0.1

)

 

$

236.4

 

Customer relationships

 

 

308.2

 

 

 

(1.4

)

 

 

(104.8

)

 

 

1.7

 

 

 

203.7

 

Patents, trademarks, trade names and other

 

 

120.9

 

 

 

 

 

 

(48.6

)

 

 

(0.2

)

 

 

72.1

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(363.2

)

 

$

1.4

 

 

$

512.2

 

 

Estimated Net Amortization Expense Aggregate net amortization expense related to acquired intangible assets for future years is as follows:

Year

 

Amount

 

2021 (remaining)

 

$

35.6

 

2022

 

$

45.5

 

2023

 

$

45.1

 

2024

 

$

44.2

 

2025

 

$

43.2

 

2026

 

$

132.8

 

Thereafter

 

$

96.1