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Goodwill and Intangible Assets, Net (Tables)
12 Months Ended
Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Summary of Changes in Net Carrying Amount of Goodwill

The changes in the net carrying amount of goodwill are as follows (in millions):

 

 

 

Predecessor

 

 

 

Employer

 

 

Professional

 

 

 

 

 

 

 

Solutions

 

 

Services

 

 

Total

 

Balance as of December 31, 2020

 

$

 

1,985

 

 

$

 

260

 

 

$

 

2,245

 

Measurement period adjustments

 

 

 

2

 

 

 

 

 

 

 

 

2

 

Foreign currency translation

 

 

 

2

 

 

 

 

1

 

 

 

 

3

 

Balance as of June 30, 2021

 

$

 

1,989

 

 

$

 

261

 

 

$

 

2,250

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Successor

 

 

 

Employer

 

 

Professional

 

 

 

 

 

 

 

Solutions

 

 

Services

 

 

Total

 

Balance as of July 1, 2021

 

$

 

3,309

 

 

$

 

74

 

 

$

 

3,383

 

Acquisitions

 

 

 

255

 

 

 

 

 

 

 

 

255

 

Balance as of December 31, 2021

 

$

 

3,564

 

 

$

 

74

 

 

$

 

3,638

 

Schedule of Intangible Assets by Asset Class

Intangible assets by asset class are as follows (in millions):

 

 

 

Successor

 

 

Predecessor

 

 

 

December 31, 2021

 

 

December 31, 2020

 

 

 

Gross

 

 

 

 

 

 

Net

 

 

Gross

 

 

 

 

 

 

 

 

 

 

Carrying

 

 

Accumulated

 

 

Carrying

 

 

Carrying

 

 

Accumulated

 

 

Net Carrying

 

 

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Intangible assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Customer-related and contract based
   intangibles

 

$

 

3,662

 

 

$

 

119

 

 

$

 

3,543

 

 

$

 

2,078

 

 

$

 

486

 

 

$

 

1,592

 

Technology related intangibles

 

 

 

254

 

 

 

 

20

 

 

 

 

234

 

 

 

 

316

 

 

 

 

180

 

 

 

 

136

 

Trade name (finite life)

 

 

 

407

 

 

 

 

14

 

 

 

 

393

 

 

 

 

8

 

 

 

 

6

 

 

 

 

2

 

Trade name (indefinite life)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3

 

 

 

 

 

 

 

 

3

 

Total

 

$

 

4,323

 

 

$

 

153

 

 

$

 

4,170

 

 

$

 

2,405

 

 

$

 

672

 

 

$

 

1,733

 

Schedule of Intangible Asset Net Carrying Amount and Weighted Average Remaining Useful Lives

The following table reflects intangible asset net carrying amount and weighted average remaining useful lives as of December 31, 2021 (in millions, except for years):

 

 

Net

 

 

Weighted Average

 

 

 

Carrying

 

 

Remaining

 

 

 

Amount

 

 

Useful Lives

 

Intangible assets at December 31, 2021:

 

 

 

 

 

 

 

 

Customer-related and contract based
   intangibles

 

$

 

3,543

 

 

 

 

14.5

 

Technology related intangibles

 

 

 

234

 

 

 

 

5.5

 

Trade name (finite life)

 

 

 

393

 

 

 

 

14.3

 

Total

 

$

 

4,170

 

 

 

 

 

Schedule of Intangible Assets Expected Annual Amortization Expense

Subsequent to December 31, 2021, the annual amortization expense is expected to be as follows (in millions):

 

 

 

Customer-Related

 

 

Technology

 

 

Trade

 

 

 

and Contract Based

 

 

Related

 

 

Name

 

 

 

Intangibles

 

 

Intangibles

 

 

Intangible

 

2022

 

$

 

245

 

 

$

 

43

 

 

$

 

28

 

2023

 

 

 

245

 

 

 

 

43

 

 

 

 

28

 

2024

 

 

 

245

 

 

 

 

43

 

 

 

 

28

 

2025

 

 

 

245

 

 

 

 

43

 

 

 

 

28

 

2026

 

 

 

245

 

 

 

 

42

 

 

 

 

27

 

Thereafter

 

 

 

2,318

 

 

 

 

20

 

 

 

 

254

 

Total amortization expense

 

$

 

3,543

 

 

$

 

234

 

 

$

 

393