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Goodwill and Intangible Assets (Tables)
3 Months Ended
Mar. 31, 2020
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill

The changes in the carrying amount of goodwill and accumulated impairment loss during the three months ended March 31, 2020 and year ended December 31, 2019 were as follows:

 

 

 

Three Months Ended March 31, 2020

 

 

Twelve Months Ended December 31, 2019

 

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

 

Gross

Carrying

Amount

 

 

Accumulated

Impairment

Loss

 

 

Net

 

Beginning balance at January 1

 

$

1,202.8

 

 

$

(144.3

)

 

$

1,058.5

 

 

$

731.3

 

 

$

(144.3

)

 

$

587.0

 

Acquired goodwill

 

 

 

 

 

 

 

 

 

 

 

474.0

 

 

 

 

 

 

474.0

 

Foreign currency translation

 

 

(2.1

)

 

 

 

 

 

(2.1

)

 

 

(2.5

)

 

 

 

 

 

(2.5

)

Ending balance at March 31, 2020 and December 31, 2019

 

$

1,200.7

 

 

$

(144.3

)

 

$

1,056.4

 

 

$

1,202.8

 

 

$

(144.3

)

 

$

1,058.5

 

 

Intangible Assets

Intangible Assets

Components of the Company’s intangible assets are comprised of the following:

 

As of March 31, 2020:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology

 

$

446.4

 

 

$

(0.1

)

 

$

(188.6

)

 

$

(0.4

)

 

$

257.3

 

Customer relationships

 

 

308.2

 

 

 

(1.4

)

 

$

(89.1

)

 

$

(1.8

)

 

$

215.9

 

Patents, trademarks, trade names and other

 

 

120.9

 

 

 

 

 

$

(46.6

)

 

$

0.2

 

 

$

74.5

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(324.3

)

 

$

(2.0

)

 

$

547.7

 

 

As of December 31, 2019:

 

Gross

 

 

Accumulated

Impairment

Charges

 

 

Accumulated

Amortization

 

 

Foreign

Currency

Translation

 

 

Net

 

Completed technology(1)

 

$

446.4

 

 

$

(0.1

)

 

$

(178.3

)

 

$

(0.2

)

 

$

267.8

 

Customer relationships(1)

 

 

308.2

 

 

 

(1.4

)

 

 

(84.2

)

 

 

(1.4

)

 

 

221.2

 

Patents, trademarks, trade names and other(2)

 

 

120.9

 

 

 

 

 

 

(45.5

)

 

 

0.2

 

 

 

75.6

 

 

 

$

875.5

 

 

$

(1.5

)

 

$

(308.0

)

 

$

(1.4

)

 

$

564.6

 

 

 

(1)

During 2019, the Company recorded $316.2 of separately identified intangible assets related to the ESI Merger, of which $274.0 was completed technology, $25.4 was customer relationships and $16.8 was trademarks, trade names and backlog.

 

(2)

During 2019, the Company reclassified $6.4 of gross favorable lease assets and $3.4 of related accumulated amortization from patents, trademarks, trade names and other to the right-of-use asset line in the balance sheet.

Estimated Net Amortization Expense Aggregate net amortization expense related to acquired intangible assets for future years is as follows:

Year

 

Amount

 

2020 (remaining)

 

$

41.0

 

2021

 

$

46.1

 

2022

 

$

45.2

 

2023

 

$

44.9

 

2024

 

$

44.0

 

2025

 

$

43.6

 

Thereafter

 

$

227.0