6. Goodwill and Other Intangible Assets, Net Goodwill Our goodwill balance was $2,382.8 million and $2,336.7 million as of June 30, 2025 and December 31, 2024, respectively. The change in goodwill was due to fluctuations in foreign currency exchange rates. Other Intangible Assets, Net
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June 30, 2025 |
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Gross Carrying
Amount |
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Accumulated
Amortization |
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Net |
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Weighted Average Remaining Amortization Period |
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(In millions) |
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(In years) |
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Amortized - definite lived: |
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Customer lists and relationships |
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$ |
298.4 |
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$ |
(249.0 |
) |
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$ |
49.4 |
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5.7 |
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Trade name |
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177.0 |
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(170.2 |
) |
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6.8 |
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0.1 |
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Technology |
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316.9 |
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(234.9 |
) |
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82.0 |
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5.1 |
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Total definite lived intangible assets |
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$ |
792.3 |
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$ |
(654.1 |
) |
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$ |
138.2 |
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4.9 |
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Unamortized - indefinite lived: |
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Trade name |
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6.3 |
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(1.9 |
) |
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4.4 |
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n/a |
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Total other intangible assets |
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$ |
798.6 |
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$ |
(656.0 |
) |
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$ |
142.6 |
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n/a |
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December 31, 2024 |
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|
Gross Carrying
Amount |
|
|
Accumulated
Amortization |
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|
Net |
|
|
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 |
|
$ |
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 $31.1 million and $29.5 million for the three months ended June 30, 2025, and 2024, respectively, and $59.8 million and $57.9 million for the six months ended June 30, 2025, and 2024, respectively.
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