Intangible Assets and Goodwill (Tables)

9 Months Ended

Sep. 30, 2017

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Intangible Assets

Intangible assets consist of developed technology recorded as a result of the acquisition of CDI on October 14, 2015 and intangible assets acquired when we closed the Capacity and Services Transaction with Clinton on February 2, 2017. The Capacity and Services Transaction allows for GBAM to place up to $1 billion of investment capacity under Clinton’s management within Clinton’s quantitative equity strategy for an initial term of five years, for which the Company issued to Clinton’s affiliate Madison Avenue Capital Holdings, Inc. 1,250,000 shares of its common stock as consideration. We recorded the 1,250,000 shares of common stock issued as an intangible asset and calculated a fair value of $10.1 million using our closing stock price on February 2, 2017. We are amortizing the $10.1 million on a straight-line basis over the five year term. See Note 16 - Related Party Transactions for additional information.

(In millions)	Capacity Agreement			Developed Technology			Total
September 30, 2017
Cost	$	10.1		$	4.3		$	14.4
Accumulated amortization	(1.4		)	(1.4		)	(2.8		)
Intangible assets, net	$	8.7		$	2.9		$	11.6
December 31, 2016
Cost	$	—		$	4.3		$	4.3
Accumulated amortization	—			(0.9		)	(0.9		)
Intangible assets, net	$	—		$	3.4		$	3.4

Schedule of Amortization Expense for Intangible Assets

Amortization expense for intangible assets consisted of the following:

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
(In millions)	2017		2016		2017		2016
Amortization expense	$	0.7	$	0.2	$	1.9	$	0.6

Schedule of Intangible Assets Estimated Amortization Expense

Estimated amortization expense for the remainder of 2017 and each of the next four years is as follows:

(In millions)	2017 (Remainder)		2018		2019		2020		2021
Amortization expense	$	0.7	$	2.7	$	2.7	$	2.7	$	2.6