Acquisition, Goodwill and Acquisition-Related Intangible Assets

3 Months Ended

Mar. 31, 2025

Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract]

Acquisition, Goodwill and Acquisition-Related Intangible Assets

Acquisitions

We had no business acquisitions during the three months ended March 31, 2025 and 2024.

Goodwill

No changes were made to the carrying values of goodwill for the three months ended March 31, 2025 and 2024.

Acquisition-Related Intangible Assets

Acquisition-related intangible assets, excluding those that are fully amortized, were as follows (in millions, except years):


	Gross Carrying Amount						Accumulated Amortization						Net Carrying Amount				Weighted Average Remaining Useful Life (in years)
	December 31, 2024		Additions		March 31, 2025		December 31, 2024		Amortization		March 31, 2025		December 31, 2024		March 31, 2025
Developed technology	$	154.9	$	—	$	154.9	$	(119.2)	$	(3.2)	$	(122.4)	$	35.7	$	32.5	3.2
Customer relationships	54.6		—		54.6		(29.5)		(1.9)		(31.4)		25.1		23.2		3.7
Trade name	12.4		—		12.4		(11.2)		(0.5)		(11.7)		1.2		0.7		0.4
Total	$	221.9	$	—	$	221.9	$	(159.9)	$	(5.6)	$	(165.5)	$	62.0	$	56.4	3.4

Amortization expense related to acquisition-related intangible assets was $5.6 million and $6.7 million for the three months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025, future estimated amortization expense related to the acquisition-related intangible assets is as follows (in millions):


	Future Amortization Expense
Remainder of 2025	$	14.1
2026	17.3
2027	13.4
2028	10.0
2029	1.6
Total	$	56.4