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Goodwill and Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2022
Goodwill And Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill

The changes in the Company's goodwill consisted of the following:

 

(dollars in millions)

 

IT Services and

Hardware

 

 

Network

 

 

Total Company

 

Goodwill, balance as of December 31, 2021

 

$

157.4

 

 

$

488.9

 

 

$

646.3

 

Activity during the year:

 

 

 

 

 

 

 

 

 

 

 

 

Adjustments to prior year Merger

 

 

2.5

 

 

 

2.2

 

 

 

4.7

 

Acquisition of Agile

 

 

 

 

 

35.3

 

 

 

35.3

 

Adjustments to postretirement and other benefit obligations (Note 8)

 

 

19.6

 

 

 

15.4

 

 

 

35.0

 

Currency translations

 

 

(2.3

)

 

 

 

 

 

(2.3

)

Goodwill, balance as of September 30, 2022

 

$

177.2

 

 

$

541.8

 

 

$

719.0

 

Schedule of Intangible Assets

The Company’s intangible assets consisted of the following:

 

 

 

September 30, 2022

 

 

December 31, 2021

 

 

 

Gross Carrying

 

 

Accumulated

 

 

Net

 

 

Gross Carrying

 

 

Accumulated

 

 

Net

 

(dollars in millions)

 

Amount

 

 

Amortization

 

 

Amount

 

 

Amount

 

 

Amortization

 

 

Amount

 

Intangible assets subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      Customer relationships

 

$

861.4

 

 

$

(114.2

)

 

$

747.2

 

 

$

850.0

 

 

$

(36.2

)

 

$

813.8

 

      Trade names

 

 

109.3

 

 

 

(16.9

)

 

 

92.4

 

 

 

108.0

 

 

 

(5.0

)

 

 

103.0

 

      Technology

 

 

6.1

 

 

 

(0.8

)

 

 

5.3

 

 

 

5.0

 

 

 

(0.2

)

 

 

4.8

 

  Total

 

 

976.8

 

 

 

(131.9

)

 

 

844.9

 

 

 

963.0

 

 

 

(41.4

)

 

 

921.6

 

Intangible assets not subject to amortization

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

      FCC licenses and spectrum usage rights

 

 

6.9

 

 

 

 

 

 

6.9

 

 

 

6.7

 

 

 

 

 

 

6.7

 

Total intangible assets

 

$

983.7

 

 

$

(131.9

)

 

$

851.8

 

 

$

969.7

 

 

$

(41.4

)

 

$

928.3

 

 

 

Schedule of Estimated Useful Lives for Finite-lived Intangible Assets

The estimated useful lives for each finite-lived intangible asset class are as follows:

 

Customer relationships

 

15 years

Trade names

 

3 to 10 years

Technology

 

7 years

Schedule of Estimated Amortization Expense

The annual estimated amortization expense for future years is as follows:

 

(dollars in millions)

 

 

 

 

Three months ended December 31, 2022

 

$

30.6

 

2023

 

 

115.1

 

2024

 

 

105.8

 

2025

 

 

93.6

 

2026

 

 

86.2

 

Thereafter

 

 

413.6

 

Total

 

$

844.9