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GOODWILL AND INTANGIBLE ASSETS, NET
 9 Months Ended
Sep. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
GOODWILL AND INTANGIBLE ASSETS, NET GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table shows the changes in our goodwill balances from December 31, 2025 to September 30, 2026:
(in millions)IndexAnalyticsSustainability and ClimateAll Other - Private AssetsTotal
Goodwill at December 31, 2025$1,231.1 $296.9 $86.3 $1,309.1 $2,923.4 
Acquisitions1
42.3 — 74.5 11.6 128.4 
Foreign exchange translation adjustment(3.2)— (0.5)(0.3)(4.0)
Goodwill at September 30, 2026$1,270.2 $296.9 $160.3 $1,320.4 $3,047.8 
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1Reflects the opening balance sheet impacts of the acquisitions of Vantager, Compass, PM Insights and First Street.
The Company completed its annual goodwill impairment test as of July 1, 2026 on its Index, Analytics, Sustainability and Climate, Real Assets and Private Capital Solutions reporting units, which are also the Company’s operating segments, and no impairments were recorded. The Company performed a test for impairment and determined that it was more likely than not that the fair value of each reporting unit was greater than its carrying value. See Note 11, “Segment Information,” for further descriptions of the operating segments.
Intangible Assets, Net
The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated:
Three Months Ended
September 30,		Nine Months Ended
September 30,
(in millions)2026202520262025
Amortization expense of acquired intangible assets$21.0 $20.8 $61.5 $70.8 
Amortization expense of internally developed capitalized software24.2 20.2 69.4 57.8 
Total amortization of intangible assets expense$45.2 $41.0 $130.9 $128.6 
The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows:
September 30, 2026December 31, 2025
(in millions)Gross intangible assetsAccumulated amortizationNet intangible assetsGross intangible assetsAccumulated amortizationNet intangible assets
Customer relationships$731.7 $(421.0)$310.7 $716.2 $(406.7)$309.5 
Proprietary data470.2 (177.2)293.0 455.6 (147.5)308.1 
Acquired technology and software328.3 (227.4)100.9 258.2 (213.7)44.5 
Trademarks209.1 (193.1)16.0 209.1 (189.9)19.2 
Internally developed capitalized software502.5 (324.0)178.5 407.7 (256.5)151.2 
Total$2,241.8 $(1,342.7)$899.1 $2,046.8 $(1,214.3)$832.5 
The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2026 and succeeding years:    
Years Ending December 31,
(in millions)		Amortization
Expense
Remainder of 2026$45.8 
2027165.3 
2028134.3 
202998.8 
203078.8 
Thereafter376.1 
Total$899.1