Cloud Computing Costs

9 Months Ended

Sep. 30, 2022

Research and Development [Abstract]

Cloud Computing Costs

Cloud Computing Costs

Capitalized costs to implement cloud computing arrangements at cost and accumulated amortization were as follows: 

(in millions)	September 30, 2022		December 31, 2021
Short-term portion	$	17.3	$	18.4
Long-term portion	78.7		49.2
Total capitalized implementation costs	96.0		67.6
Less: accumulated amortization	(13.2)		(4.4)
Capitalized implementation costs, net	$	82.8	$	63.2

Amortization expense is recognized on a straight-line basis over the expected term of the hosting arrangements, which range from three to five years. Amortization expense was $3.8 million and $0.8 million for the three months ended September 30, 2022 and 2021, respectively, and was $8.8 million and $2.1 million for the nine months ended September 30, 2022 and 2021, respectively.