Acquisitions, Goodwill and Other Intangible Assets (Tables)

3 Months Ended

Mar. 31, 2020

Mar. 31, 2019

Goodwill and Intangible Assets Disclosure [Abstract]

Business Acquisition, Pro Forma Information [Table Text Block]

Unaudited Pro Forma Financial Information	Three months ended
(in millions, except for per share amount)	March 31, 2019
Revenue	$	297.3
Operating income	49.4
Net income	28.6
Basic net income per share	$	0.67
Diluted net income per share	$	0.66

Schedule of Goodwill

The following table shows the changes in our goodwill balances from December 31, 2019 to March 31, 2020:

	(in millions)
Balance as of December 31, 2019	$	1,039.1
Foreign currency translation	(25.9		)
Balance as of March 31, 2020	$	1,013.2

Schedule of Intangible Assets

The following table summarizes our intangible assets: 

	As of March 31, 2020								As of December 31, 2019
(in millions)	Gross		Accumulated Amortization			Net		Weighted Average Useful  Life (years)	Gross		Accumulated Amortization			Net		Weighted Average Useful  Life (years)
Customer-related assets	362.0		(134.3		)	227.7		11	377.9		(130.3		)	247.6		11
Technology-based assets	164.4		(115.6		)	48.8		7	163.7		(112.0		)	51.7		7
Intellectual property & other	65.6		(35.9		)	29.7		8	69.3		(35.2		)	34.1		8
Total intangible assets	$	592.0	$	(285.8	)	$	306.2	9	$	610.9	$	(277.5	)	$	333.4	10

Schedule of Intangible Asset, Amortization Expense

The following table summarizes our amortization expense related to intangible assets:

	Three months ended March 31,
(in millions)	2020		2019
Amortization expense	$	14.0	$	4.9

Schedule of Expected Amortization Expense

We expect intangible amortization expense for the remainder of 2020 and subsequent years to be as follows:

	(in millions)
Remainder of 2020 (from April 1 through December 31)	$	39.0
2021	49.6
2022	41.6
2023	37.8
2024	32.2
Thereafter	106.0
Total	$	306.2

Our estimates of future amortization expense for intangible assets may be affected by additional acquisitions, divestitures, changes in the estimated average useful lives, impairments, and foreign currency translation.