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Intangible Assets and Goodwill (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Intangible Assets

Intangible assets, net consist of the following:

(in millions)

 

Indefinite-
lived trade
names

 

 

Customer
relationship
intangibles

 

 

Definite-
lived trade
names

 

 

Acquired
Technology

 

 

Acquired
Content

 

 

Computer
software

 

 

Capitalized
software in
progress

 

 

Total
Intangible
Assets

 

Gross carrying
  amount at
  December 31, 2024

 

$

45.7

 

 

$

363.6

 

 

$

92.3

 

 

$

8.4

 

 

$

2.6

 

 

$

45.1

 

 

$

2.3

 

 

$

560.0

 

Accumulated amortization

 

 

—

 

 

 

(343.5

)

 

 

(27.6

)

 

 

(5.7

)

 

 

(1.4

)

 

 

(25.9

)

 

 

—

 

 

 

(404.1

)

Net carrying
  amount at
  December 31, 2024

 

$

45.7

 

 

$

20.1

 

 

$

64.7

 

 

$

2.7

 

 

$

1.2

 

 

$

19.2

 

 

$

2.3

 

 

$

155.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross carrying
  amount at
  December 31, 2023

 

$

52.6

 

 

$

365.4

 

 

$

91.1

 

 

$

8.4

 

 

$

2.6

 

 

$

36.9

 

 

$

1.6

 

 

$

558.6

 

Accumulated amortization

 

 

—

 

 

 

(336.7

)

 

 

(22.6

)

 

 

(4.7

)

 

 

(1.0

)

 

 

(18.5

)

 

 

—

 

 

 

(383.5

)

Net carrying
  amount at
  December 31, 2023

 

$

52.6

 

 

$

28.7

 

 

$

68.5

 

 

$

3.7

 

 

$

1.6

 

 

$

18.4

 

 

$

1.6

 

 

$

175.1

 
Summary of Estimated Future Amortization Expense

Future amortization expense is estimated to be as follows for each of the five following years and thereafter ending December 31:

(in millions)

 

 

 

2025

 

 

23.6

 

2026

 

 

18.7

 

2027

 

 

13.3

 

2028

 

 

7.3

 

2029

 

 

5.0

 

Thereafter

 

 

40.0

 

 

$

107.9

 
Schedule of Changes in Carrying Amount of Goodwill for Each Reportable Segment

The table below summarizes the changes in the carrying amount of goodwill for each reportable segment:

 

 

Reportable Segment

 

 

 

 

 

 

 

 

 

 

(in millions)

 

Commerce
(Legacy)

 

 

Design,
Creative &
Technology
(Legacy)

 

 

Connections

 

 

All Other

 

 

All Other
(Legacy)

 

 

Total

 

Balance at December 31, 2022

 

$

356.1

 

 

$

160.8

 

 

$

—

 

 

$

—

 

 

$

28.6

 

 

$

545.5

 

Acquired goodwill

 

 

—

 

 

 

—

 

 

 

8.4

 

 

 

—

 

 

 

—

 

 

 

8.4

 

Transfers

 

 

(356.1

)

 

 

(160.8

)

 

 

509.9

 

 

 

35.6

 

 

 

(28.6

)

 

 

—

 

Balance at December 31, 2023

 

$

—

 

 

$

—

 

 

$

518.3

 

 

$

35.6

 

 

$

—

 

 

$

553.9

 

Acquired goodwill

 

 

—

 

 

 

—

 

 

 

19.9

 

 

 

—

 

 

 

—

 

 

 

19.9

 

Balance at December 31, 2024

 

$

—

 

 

$

—

 

 

$

538.2

 

 

$

35.6

 

 

$

—

 

 

$

573.8