Intangible Assets and Goodwill

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets, net of accumulated amortization, impairment charges and adjustments are summarized as follows:


		As of March 31, 2023						As of December 31, 2022
(In millions)	Estimated Life	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	4-28 years	$	7,428.7	$	(5,679.4)	$	1,749.3	$	7,415.3	$	(5,629.2)	$	1,786.1

Trademarks and trade names	Indefinite	64.0		—		64.0		64.0		—		64.0
Total intangible assets		$	7,492.7	$	(5,679.4)	$	1,813.3	$	7,479.3	$	(5,629.2)	$	1,850.1

Amortization and Impairments

For the three months ended March 31, 2023, amortization and impairment of acquired intangible assets totaled $50.2 million, compared to $66.9 million in the prior year comparative period. The decrease was primarily due to a lower rate of amortization for acquired intangible assets. For the three months ended March 31, 2023 and 2022, we had no impairment charges.

Completed Technology

Completed technology primarily relates to our other marketed products and programs acquired through asset acquisitions, licenses and business combinations.

Estimated Future Amortization of Intangible Assets

The estimated future amortization of finite-lived intangible assets for the next five years is expected to be as follows:


(In millions)	As of March 31, 2023
2023 (remaining nine months)	$	165.0
2024	195.0
2025	190.0
2026	175.0
2027	170.0
2028	165.0

Goodwill

The following table provides a roll forward of the changes in our goodwill balance:


(In millions)	As of March 31, 2023
Goodwill, December 31, 2022	$	5,749.0

Other	2.8
Goodwill, March 31, 2023	$	5,751.8

As of March 31, 2023, we had no accumulated impairment losses related to goodwill. Other includes adjustments related to foreign currency exchange rate fluctuations.