| . Goodwill and Other Intangible Assets, Net Goodwill Our goodwill balance was $2,343.4 million and $2,336.7 million as of March 31, 2025 and December 31, 2024, respectively. The change in goodwill was due to fluctuations in foreign currency exchange rates. Other Intangible Assets, Net Other intangible assets, net consisted of the following:
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March 31, 2025 |
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Gross Carrying
Amount |
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Accumulated
Amortization |
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Net |
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Weighted Average Remaining Amortization Period |
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(In millions) |
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(In years) |
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Amortized - definite lived: |
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Customer lists and relationships |
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$ |
291.9 |
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$ |
(242.4 |
) |
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$ |
49.5 |
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5.9 |
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Trade name |
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176.6 |
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(148.8 |
) |
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27.8 |
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0.3 |
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Technology |
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304.4 |
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(223.5 |
) |
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80.9 |
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5.3 |
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Total definite lived intangible assets |
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$ |
772.9 |
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$ |
(614.7 |
) |
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$ |
158.2 |
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4.5 |
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Unamortized - indefinite lived: |
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Trade name |
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6.0 |
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(1.8 |
) |
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4.2 |
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n/a |
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Total other intangible assets |
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$ |
778.9 |
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$ |
(616.5 |
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$ |
162.4 |
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n/a |
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December 31, 2024 |
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|
Gross Carrying
Amount |
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|
Accumulated
Amortization |
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Net |
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|
Weighted Average Remaining Amortization Period |
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(In millions) |
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(In years) |
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Amortized - definite lived: |
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Customer lists and relationships |
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$ |
291.1 |
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$ |
(239.8 |
) |
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$ |
51.3 |
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6.2 |
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Trade name |
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176.4 |
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(127.3 |
) |
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49.1 |
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0.6 |
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Technology |
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300.3 |
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(215.7 |
) |
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84.6 |
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5.3 |
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Total definite lived intangible assets |
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$ |
767.8 |
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$ |
(582.8 |
) |
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$ |
185.0 |
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4.2 |
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Unamortized - indefinite lived: |
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Trade name |
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6.0 |
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(1.8 |
) |
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4.2 |
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n/a |
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Total other intangible assets |
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$ |
773.8 |
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$ |
(584.6 |
) |
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$ |
189.2 |
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n/a |
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Amortization expense related to definite lived intangible assets was $28.7 million and $28.4 million for the three months ended March 31, 2025, and 2024, respectively.
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