Goodwill and Other Intangible Assets

6 Months Ended

Jun. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

The carrying value of goodwill by segment was as follows:


	Application Software		Network Software		Technology Enabled Products		Total
Balances at December 31, 2023	$	12,563.4	$	3,624.6	$	930.8	$	17,118.8
Goodwill acquired	1,208.2		—		—		1,208.2

Other	(7.0)		—		—		(7.0)
Currency translation adjustments	(4.0)		(2.2)		(0.7)		(6.9)
Balances at June 30, 2024	$	13,760.6	$	3,622.4	$	930.1	$	18,313.1

Other relates to purchase accounting adjustments for acquisitions and is composed primarily of a measurement period adjustment of $9.8 to decrease goodwill and deferred tax liabilities in connection with the Syntellis opening balance sheet.

Other intangible assets were comprised of:


	Cost		Accumulated amortization		Net book value
Assets subject to amortization:
Customer related intangibles	$	10,061.7	$	(3,000.5)	$	7,061.2
Unpatented technology	1,047.0		(638.8)		408.2
Software	149.2		(143.4)		5.8
Patents and other protective rights	10.3		(1.4)		8.9

Assets not subject to amortization:
Trade names	728.0		—		728.0

Balances at December 31, 2023	$	11,996.2	$	(3,784.1)	$	8,212.1

Assets subject to amortization:
Customer related intangibles	$	10,608.3	$	(3,141.8)	$	7,466.5
Unpatented technology	803.5		(399.5)		404.0
Software	109.8		(108.5)		1.3
Patents and other protective rights	9.2		(1.7)		7.5

Assets not subject to amortization:
Trade names	766.0		—		766.0

Balances at June 30, 2024	$	12,296.8	$	(3,651.5)	$	8,645.3

Amortization expense of other intangible assets was $184.9 and $170.5 during the three months ended June 30, 2024 and 2023, respectively, and $363.3 and $340.9 during the six months ended June 30, 2024 and 2023, respectively.

An evaluation of the carrying value of goodwill and other indefinite-lived intangibles is required to be performed on an annual basis and on an interim basis if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying value. There have been no events or changes in circumstances which indicate an interim impairment review is required in 2024. The Company will perform the annual analysis during the fourth quarter of 2024.