Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Note 4. Goodwill and Other Intangible Assets

DFIN’s four operating segments are the same as its reporting units: CM-SS, CM-CCM, IC-SS and IC-CCM.

In the fourth quarter of 2021, the Company completed its annual goodwill impairment analysis and concluded that there was no goodwill impairment. In the fourth quarter of 2020, the Company completed its annual goodwill impairment analysis and recorded a non-cash impairment charge of $40.6 million to reflect a full impairment of goodwill within the IC-CCM reporting unit. Refer to Note 6, Restructuring, Impairment and Other Charges for further discussion.

The balances of goodwill by reporting unit are presented below:


	Gross book value at March 31, 2020 (a)		Accumulated impairment charges at December 31, 2020			Foreign exchange and other adjustments		Net book value at December 31, 2020		Foreign exchange and other adjustments		Net book value at December 31, 2021
Capital Markets - Software Solutions	$	103.6	$	—		$	0.1	$	103.7	$	—	$	103.7
Capital Markets - Compliance and Communications Management		252.5		—			0.5		253.0		0.1		253.1
Investment Companies - Software Solutions		53.0		—			0.2		53.2		—		53.2
Investment Companies - Compliance and Communications Management		40.6		(40.6	)		—		—		—		—
Total	$	449.7	$	(40.6	)	$	0.8	$	409.9	$	0.1	$	410.0

(a)

As a result of a change in segmentation, which was effective in the first quarter of 2020, goodwill was reassigned to the Company's reporting units in the first quarter of 2020.

The components of other intangible assets at December 31, 2021, and 2020 were as follows:


	December 31, 2021							December 31, 2020
	Gross Carrying Amount		Accumulated Amortization			Net Book Value		Gross Carrying Amount		Accumulated Amortization			Net Book Value
Customer relationships (useful life of 15 years)	$	10.4	$	(2.1	)	$	8.3	$	10.4	$	(1.4	)	$	9.0
Trade names (useful life of 5 years)		1.0		(0.6	)		0.4		1.0		(0.4	)		0.6
Software license (useful life of 3 years)		—		—			—		0.3		(0.1	)		0.2
Total other intangible assets	$	11.4	$	(2.7	)	$	8.7	$	11.7	$	(1.9	)	$	9.8

Impairment of Other Intangible Assets—For the year ended December 31, 2019, the Company recognized impairment charges of $1.0 million related to customer relationship intangible assets in the Company’s CM-CCM and IC-SS reporting units.

Other Intangible Assets—Amortization expense for other intangible assets was $1.1 million, $12.4 million and $14.3 million for the years ended December 31, 2021, 2020 and 2019, respectively. The weighted-average remaining useful life for the unamortized intangible assets as of December 31, 2021 is approximately twelve years.

The following table outlines the estimated annual amortization expense related to other intangible assets:


For the year ending December 31,	Amount
2022	$	0.9
2023		0.9
2024		0.7
2025		0.7
2026		0.7
2027 and thereafter		4.8
Total	$	8.7