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Goodwill and Acquired Intangible Assets

9 Months Ended

Sep. 30, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Note 7 - Goodwill and Acquired Intangible Assets

Intangible assets consisted of the following as of September 30, 2022:



(in millions)	Gross Carrying Amount		Accumulated Amortization		Net		Weighted Average Amortization Period in Years
Intangible assets subject to amortization:
Customer relationships	$	287.6	$	(87.0)	$	200.6	14.4
Acquired technology	330.8		(157.0)		173.8		6.3
Brand portfolio	11.5		(5.4)		6.1		7.5
Net intangible assets subject to amortization	$	629.9	$	(249.4)	$	380.5

Intangible assets not subject to amortization
Pre-Acquisition ZI brand portfolio	$	33.0	$	—	$	33.0
Goodwill	$	1,696.3	$	—	$	1,696.3

Amortization expense was $17.9 million and $16.1 million for the three months ended September 30, 2022 and 2021, respectively. Amortization expense was $52.3 million and $39.2 million for the nine months ended September 30, 2022 and 2021, respectively.

The following summarized changes to the Company’s goodwill (in millions):


Balance at December 31, 2021	$	1,575.1
Adjustments from 2021 acquisitions	(1.8)
Goodwill from 2022 acquisitions	123.0
Balance at September 30, 2022	$	1,696.3

Based on the results of the Company’s impairment assessment, the Company did not recognize any impairment of goodwill during the nine months ended September 30, 2022 or September 30, 2021.