Goodwill and Purchased Intangible Assets

12 Months Ended

Dec. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Purchased Intangible Assets

Note 5. Goodwill and Purchased Intangible Assets

Goodwill

The Company's goodwill activity was as follows (in millions):

	Amount
December 31, 2021	$	3,762.1
Other (*)	(27.7)
December 31, 2022	3,734.4
Other	—
December 31, 2023	$	3,734.4

______________________

(*) Other primarily consists of $28.9 million reduction in goodwill due to the divestiture of the Company's silicon photonics business.

We conducted our annual impairment test of goodwill during the fourth quarter of 2023; the estimated fair value of our reporting unit was substantially in excess of the carrying value. There was no goodwill impairment during the years ended December 31, 2023, 2022, and 2021.

Purchased Intangible Assets

The Company’s purchased intangible assets, net, were as follows (in millions):

	As of December 31, 2023								As of December 31, 2022
	Gross		Accumulated Amortization		Accumulated Impairments and Other Charges		Net		Gross		Accumulated Amortization		Accumulated Impairments and Other Charges		Net
Finite-lived intangible assets:
Technologies and patents	$	913.1	$	(779.1)	$	(55.1)	$	78.9	$	913.1	$	(721.3)	$	(55.1)	$	136.7
Customer contracts, support agreements, and related relationships	136.3		(120.9)		(2.8)		12.6		136.3		(111.2)		(2.8)		22.3
Trade names and other	9.6		(9.3)		—		0.3		9.6		(8.1)		—		1.5
Total purchased intangible assets	$	1,059.0	$	(909.3)	$	(57.9)	$	91.8	$	1,059.0	$	(840.6)	$	(57.9)	$	160.5

Amortization expense related to purchased intangible assets with finite lives was $68.7 million, $74.8 million, and $79.5 million for the years ended December 31, 2023, 2022, and 2021, respectively. There were no significant impairment charges related to purchased intangible assets during the years ended December 31, 2023, 2022, and 2021.

As of December 31, 2023, the estimated future amortization expense of purchased intangible assets with finite lives was as follows (in millions):

Years Ending December 31,	Amount
2024	$	49.2
2025	39.6
2026	3.0
2027	—
2028	—
Total	$	91.8