XML 31 R16.htm IDEA: XBRL DOCUMENT v3.23.1
Intangible Assets
3 Months Ended
Mar. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Intangible Assets Intangible Assets
At March 31, 2023 and December 31, 2022, the Company had $633.1 million and $652.5 million of intangible assets in its ATM segment and $41.8 million and $57.8 million in its FBS segment, respectively. The gross carrying amount and accumulated amortization for intangible assets consisted of the following (in millions):
 March 31, 2023
 Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortized Intangible Assets
Customer relationships$739.6 $171.4 $568.2 
Developed technology71.4 28.3 43.1 
Trade names33.1 4.9 28.2 
Acquired technology20.7 2.2 18.5 
Non-compete agreements2.9 2.7 0.2 
Patents1.9 0.8 1.1 
Total(1)
$869.6 $210.3 $659.3 
Unamortized Intangible Assets
Trade names$15.6 $— $15.6 
(1) Includes a decrease of $25.3 million related to measurement period adjustments for the Merger recognized during the three months ended March 31, 2023.
 December 31, 2022
 Gross
Carrying
Amount
Accumulated
Amortization
Net
Carrying
Amount
Amortized Intangible Assets
Customer relationships$754.8 $159.4 $595.4 
Developed technology71.2 26.5 44.7 
Trade names35.8 4.4 31.4 
Acquired technology23.5 1.6 21.9 
Non-compete agreements2.9 2.7 0.2 
Patents1.9 0.7 1.2 
Total$890.1 $195.3 $694.8 
Unamortized Intangible Assets
Trade names(1)
$15.5 $— $15.5 
(1) During the first quarter of 2022, indefinite-lived trade names and developed technology with net carrying amounts of $4.2 million and $0.5 million were allocated to the disposal group classified as held for sale and subsequently impaired.
Amortization expense of intangible assets was $14.5 million and $11.1 million for the three months ended March 31, 2023 and 2022, respectively. Finite-lived intangibles are expensed using the straight-line amortization method.