v3.20.2

Goodwill and Acquired Intangible Assets | 6 Months Ended
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Jun. 30, 2020
Acquired Finite-Lived Intangible Assets [Line Items] |
Goodwill and Acquired Intangible Assets | Note 6 - Goodwill and Acquired Intangible Assets Intangible assets consisted of the following as of June 30, 2020 (in millions):
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted Average Amortization Period in Years
Intangible assets subject to amortization: |  |  |  |  |  |  |
Customer relationships | $ | 268.6 |  |  | $ | (43.5) |  |  | $ | 225.1 |  |  | 15.0
Acquired technology | 163.9 |  |  | (73.7) |  |  | 90.2 |  |  | 6.0
Brand portfolio | 4.6 |  |  | (2.7) |  |  | 1.9 |  |  | 9.7
Net intangible assets subject to amortization | $ | 437.1 |  |  | $ | (119.9) |  |  | $ | 317.2 |  |  |
Intangible assets not subject to amortization |  |  |  |  |  |  |
Pre-Acquisition ZI brand portfolio | $ | 33.0 |  |  | $ | — |  |  | $ | 33.0 |  |  |
Goodwill | $ | 966.8 |  |  | $ | — |  |  | $ | 966.8 |  |  |
Amortization expense was $10.3 million and $12.0 million for the three months ended June 30, 2020 and 2019, respectively. Amortization expense was $20.5 million and $21.3 million for the six months ended June 30, 2020 and 2019, respectively. Goodwill, as of June 30, 2020, was $966.8 million, and there have been no changes since December 31, 2019. Based on the results of the Company’s impairment assessment, the Company did not recognize any impairment of goodwill during the three months ended June 30, 2020 or June 30, 2019.
DiscoverOrg Holdings |
Acquired Finite-Lived Intangible Assets [Line Items] |
Goodwill and Acquired Intangible Assets | Note 6 - Goodwill and Acquired Intangible Assets Intangible assets consisted of the following as of December 31, 2019 (in millions):
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted Average Amortization Period in Years
Intangible assets subject to amortization: |  |  |  |  |  |  |
Customer relationships | $ | 268.6 |  |  | $ | (34.5) |  |  | $ | 234.1 |  |  | 15
Acquired technology | 163.9 |  |  | (62.5) |  |  | 101.4 |  |  | 6
Brand portfolio | 4.6 |  |  | (2.5) |  |  | 2.1 |  |  | 9.7
Net intangible assets subject to amortization | $ | 437.1 |  |  | $ | (99.5) |  |  | $ | 337.6 |  |  |
Intangible assets not subject to amortization |  |  |  |  |  |  |
Pre-Acquisition ZI brand portfolio |  |  |  |  | $ | 33.0 |  |  |
Goodwill |  |  |  |  | $ | 966.8 |  |  |
Amortization expense was $42.6 million for the year ended December 31, 2019. The Company did not incur cost to renew or extend the term of acquired intangible assets during the years ending December 31, 2019 and 2018. Future amortization expense for intangible assets as of December 31, 2019 is as follows (in millions):
| Estimate Amortization Expense
For years ended December 31, |
2020 | $ | 40.8 |
2021 | $ | 40.8 |
2022 | $ | 40.7 |
2023 | $ | 30.4 |
2024 | $ | 28.9 |
The following summarizes changes to the Company’s goodwill (in millions):
Balance at January 1, 2018 | $ | 439.7 |
Acquisition of NeverBounce | 6.0 |
Balance at December 31, 2018 | 445.7 |
Acquisition of ZoomInfo | 514.8 |
Acquisition of Komiko | 6.3 |
Balance at December 31, 2019 | $ | 966.8 |
Intangible assets consisted of the following as of December 31, 2018 (in millions):
| 2018 |  |  |  |  |  |
| Gross Carrying Amount |  | Accumulated Amortization |  | Net |  | Weighted Average Amortization Period in Years
Intangible assets subject to amortization: |  |  |  |  |  |  |
Customer relationships | $ | 95.6 |  |  | $ | (17.4) |  |  | $ | 78.2 |  |  | 14.9
Acquired technology | 45.4 |  |  | (37.5) |  |  | 7.9 |  |  | 3.9
Brand portfolio | 4.6 |  |  | (2.0) |  |  | 2.6 |  |  | 9.7
Net intangible assets subject to amortization | $ | 145.6 |  |  | $ | (56.9) |  |  | $ | 88.7 |  |  |
Intangible assets not subject to amortization |  |  |  |  |  |  |
Goodwill |  |  |  |  | $ | 445.7 |  |  |
Amortization expense was $14.7 million for the year ended December 31, 2018. A summary of estimated future amortization expense is as follows (in millions):
For the year ending December 31, | 2019 | $ | 12.3 |
| 2020 | 7.5 |
| 2021 | 7.5 |
| 2022 | 7.5 |
| 2023 | 7.4 |
| Thereafter | 46.5 |
|  | $ | 88.7 |
Based on the results of the Company’s impairment assessment, the Company did not recognize any impairment of goodwill during the years ended December 31, 2019 and 2018.

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- Definition The entire disclosure for goodwill and intangible assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 350 -URI http://asc.fasb.org/topic&trid=2144416 + Details
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