Intangible Assets and Goodwill

6 Months Ended

Jun. 30, 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 June 30, 2023						As of December 31, 2022
(In millions)	Estimated Life	Cost		Accumulated Amortization		Net		Cost		Accumulated Amortization		Net
Completed technology	4-28 years	$	7,444.7	$	(5,732.3)	$	1,712.4	$	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		$	7,508.7	$	(5,732.3)	$	1,776.4	$	7,479.3	$	(5,629.2)	$	1,850.1

Amortization and Impairments

For the three and six months ended June 30, 2023, amortization and impairment of acquired intangible assets totaled $52.9 million and $103.1 million, respectively, compared to $67.5 million and $134.4 million, respectively, in the prior year comparative periods. The decreases were primarily due to lower rates of amortization for acquired intangible assets. For the three and six months ended June 30, 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 June 30, 2023
2023 (remaining six months)	$	110.0
2024	200.0
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 June 30, 2023
Goodwill, December 31, 2022	$	5,749.0

Other	4.7
Goodwill, June 30, 2023	$	5,753.7

As of June 30, 2023, we had no accumulated impairment losses related to goodwill. Other includes adjustments related to foreign currency exchange rate fluctuations.