Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2022

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

7. Intangible Assets and Goodwill

The following table summarizes the carrying amount of intangible assets as of December 31, 2022 and 2021:

	As of December 31,
	2022		2021
	(Dollars in millions)
Acquired contractual rights	$	920.2	$	48.0
Accumulated amortization	(126.3)		(26.4)
Finite-lived intangible assets, net	793.9		21.6
Goodwill	103.9		13.3
Intangible assets, net	$	897.8	$	34.9

    As of December 31, 2022, goodwill included $91.1 million related to the Company’s Global Private Equity segment in connection with the acquisition of Abingworth. The remaining balance as of December 31, 2022 and 2021 consisted of $5.5

million and $5.5 million associated with the Company’s Global Credit segment, respectively, and $7.3 million and $7.8 million associated with the Company’s Global Investment Solutions segment, respectively.

    As discussed in Note 3, the Company reviews its intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the asset may not be recoverable. During the year ended December 31, 2022, the Company recorded an impairment charge of $4.0 million on certain acquired contractual rights related to Carlyle Aviation Partners as a result of impaired income streams from aircraft under lease in Russia. No impairment losses were recorded during the years ended December 31, 2021 and 2020.

Intangible asset amortization expense was $103.9 million, $10.2 million and $14.6 million for the years ended December 31, 2022, 2021 and 2020, respectively, and is included in general, administrative, and other expenses in the consolidated statements of operations.

    The following table summarizes the expected amortization expense for 2023 through 2027 and thereafter (Dollars in millions):

2023	$	131.2
2024	131.3
2025	131.2
2026	131.1
2027	121.0
Thereafter	148.1
	$	793.9