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Goodwill and Intangible Assets | 6 Months Ended
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Jun. 30, 2021
Goodwill And Intangible Assets Disclosure [Abstract] |
Goodwill and Intangible Assets |
9) | Goodwill and Intangible Assets
Goodwill The Company’s methodology for allocating the purchase price relating to purchase acquisitions is determined through established and generally accepted valuation techniques. Goodwill is measured as the excess of the cost of the acquisition over the sum of the amounts assigned to tangible and identifiable intangible assets acquired less liabilities assumed. The Company assigns assets acquired (including goodwill) and liabilities assumed to one or more reporting units as of the date of acquisition. Typically acquisitions relate to a single reporting unit and thus do not require the allocation of goodwill to multiple reporting units. If the products obtained in an acquisition are assigned to multiple reporting units, the goodwill is distributed to the respective reporting units as part of the purchase price allocation process. Goodwill and purchased intangible assets with indefinite useful lives are not amortized but are reviewed for impairment annually during the fourth quarter of each fiscal year and whenever events or changes in circumstances indicate that the carrying value of an asset may not be recoverable. The process of evaluating the potential impairment of goodwill and intangible assets requires significant judgment. The Company regularly monitors current business conditions and other factors including, but not limited to, adverse industry or economic trends, restructuring actions and lower projections of profitability that may impact future operating results. The changes in the carrying amount of goodwill and accumulated impairment loss during the six months ended June 30, 2021 and year ended December 31, 2020 were as follows:
|  | Six Months Ended June 30, 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 |  |  | (2.7 | ) |  |  | — |  |  |  | (2.7 | ) |  |  | 9.0 |  |  |  | — |  |  |  | 9.0 |
Ending balance at June 30, 2021 and December 31, 2020 |  | $ | 1,209.1 |  |  | $ | (145.4 | ) |  | $ | 1,063.7 |  |  | $ | 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 Components of the Company’s intangible assets are comprised of the following:
As of June 30, 2021: |  | Gross |  |  | Accumulated Impairment Charges |  |  | Accumulated Amortization |  |  | Foreign Currency Translation |  |  | Net |
Completed technology |  | $ | 446.4 |  |  | $ | (0.1 | ) |  | $ | (222.8 | ) |  | $ | (0.1 | ) |  | $ | 223.4 |
Customer relationships |  |  | 308.2 |  |  |  | (1.4 | ) |  |  | (115.2 | ) |  |  | 0.8 |  |  |  | 192.4 |
Patents, trademarks, trade names and other |  |  | 120.9 |  |  |  | (0.1 | ) |  |  | (50.3 | ) |  |  | — |  |  |  | 70.5 |
|  | $ | 875.5 |  |  | $ | (1.6 | ) |  | $ | (388.3 | ) |  | $ | 0.7 |  |  | $ | 486.3 |
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 |
Aggregate amortization expense related to acquired intangible assets for the six months ended June 30, 2021 and 2020 was $25.1 and $30.1, respectively. Aggregate net amortization expense related to acquired intangible assets for future years is as follows:
Year |  | Amount |
2021 (remaining) |  | $ | 23.0 |
2022 |  |  | 45.5 |
2023 |  |  | 45.1 |
2024 |  |  | 44.2 |
2025 |  |  | 43.3 |
2026 |  |  | 39.7 |
Thereafter |  |  | 189.6 |
The Company excluded $55.9 of indefinite-lived trademarks and trade names that were not subject to amortization from the table above.

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