Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Intangible Asset, Goodwill and Other [Abstract]

Goodwill and Intangible Assets

Goodwill and Intangible Assets

Changes to goodwill are as follows:


(in millions)			SAT			DTT			Total
Balance as of December 31, 2025			$	539.8		$	624.2		$	1,164.0
Additions (see Note 2)			—			277.1			277.1
Currency translation and other			0.8			(5.9)			(5.1)

Balance as of June 30, 2026			$	540.6		$	895.4		$	1,436.0

Changes to intangible assets are as follows:


(in millions)			Six Months Ended June 30, 2026						Year Ended December 31, 2025
Balance at beginning of period, net of accumulated amortization			$	557.2					$	419.3
Additions (see Note 2)			233.5						191.1

Amortization expense			(41.0)						(59.5)
Currency translation and other			(4.0)						6.3
Balance at end of period, net of accumulated amortization1			$	745.7					$	557.2
1 Includes $45.5 million intangibles with indefinite useful lives.

A summary of intangible assets are as follows:


			Weighted Average Amortization Period of Finite Lived Assets (in years)						June 30, 2026																		December 31, 2025
(in millions)									Gross Asset						Accumulated Amortization						Net						Gross Asset						Accumulated Amortization						Net
Customer relationships and backlog			18.0						$	928.8					$	364.1					$	564.7					$	767.9					$	339.2					$	428.7
Intellectual property rights			6.1						83.1						19.3						63.8						66.0						18.4						47.6
Developed Technology			6.0						161.2						52.2						109.0						113.2						42.2						71.0
Other			12.2						74.1						65.9						8.2						75.0						65.1						9.9
Total			17.4						$	1,247.2					$	501.5					$	745.7					$	1,022.1					$	464.9					$	557.2

Future amortization expense associated with intangible assets is expected to be:


(in millions)
Remainder of 2026			$	51.1
2027			$	91.3
2028			$	83.2
2029			$	80.5
2030			$	56.5
2031 and after			$	337.6