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Goodwill and Intangible Assets
9 Months Ended
Sep. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets

5. GOODWILL AND INTANGIBLE ASSETS

Goodwill

The following table presents goodwill by reportable segment:

 

(in thousands)

 

Index

 

 

Analytics

 

 

All Other

 

 

Total

 

Goodwill at December 31, 2015

 

$

1,210,366

 

 

$

302,551

 

 

$

52,704

 

 

$

1,565,621

 

Changes to goodwill

 

 

 

 

 

60

 

(1)

 

(110

)

(2)

 

(50

)

Foreign exchange translation adjustment

 

 

(4,408

)

 

 

 

 

 

(2,732

)

 

 

(7,140

)

Goodwill at September 30, 2016

 

$

1,205,958

 

 

$

302,611

 

 

$

49,862

 

 

$

1,558,431

 

 

(1)

Reflects the final working capital adjustment payment made during the nine months ended September 30, 2016 to complete the acquisition of Insignis, Inc.

(2)

Reflects the value disposed in the sale of the Real Estate occupiers business.

Intangible Assets

Amortization expense related to intangible assets for the three months ended September 30, 2016 and 2015 was $11.8 million and $11.7 million, respectively. Amortization expense related to intangible assets for the nine months ended September 30, 2016 and 2015 was $35.5 million and $35.1 million, respectively.

The gross carrying and accumulated amortization amounts related to the Company’s identifiable intangible assets were as follows: 

 

 

 

As of

 

 

 

September 30,

 

 

December 31,

 

 

 

2016

 

 

2015

 

 

 

(in thousands)

 

Gross intangible assets:

 

 

 

 

 

 

 

 

Customer relationships

 

$

361,204

 

 

$

361,746

 

Trademarks/trade names

 

 

223,382

 

 

 

223,382

 

Technology/software

 

 

207,517

 

 

 

199,889

 

Proprietary data

 

 

28,627

 

 

 

28,627

 

Covenant not to compete

 

 

1,225

 

 

 

1,225

 

Subtotal

 

 

821,955

 

 

 

814,869

 

Foreign exchange translation adjustment

 

 

(11,534

)

 

 

(4,867

)

Total gross intangible assets

 

$

810,421

 

 

$

810,002

 

Accumulated amortization:

 

 

 

 

 

 

 

 

Customer relationships

 

$

(161,075

)

 

$

(143,325

)

Trademarks/trade names

 

 

(102,178

)

 

 

(93,476

)

Technology/software

 

 

(182,013

)

 

 

(175,209

)

Proprietary data

 

 

(8,141

)

 

 

(6,698

)

Covenant not to compete

 

 

(1,049

)

 

 

(665

)

Subtotal

 

 

(454,456

)

 

 

(419,373

)

Foreign exchange translation adjustment

 

 

2,466

 

 

 

861

 

Total accumulated amortization

 

$

(451,990

)

 

$

(418,512

)

Net intangible assets:

 

 

 

 

 

 

 

 

Customer relationships

 

$

200,129

 

 

$

218,421

 

Trademarks/trade names

 

 

121,204

 

 

 

129,906

 

Technology/software

 

 

25,504

 

 

 

24,680

 

Proprietary data

 

 

20,486

 

 

 

21,929

 

Covenant not to compete

 

 

176

 

 

 

560

 

Subtotal

 

 

367,499

 

 

 

395,496

 

Foreign exchange translation adjustment

 

 

(9,068

)

 

 

(4,006

)

Total net intangible assets

 

$

358,431

 

 

$

391,490

 

 

The following table presents the estimated amortization expense for the remainder of 2016 and succeeding years:

 

Years Ending December 31,

 

Amortization

Expense

 

 

 

(in thousands)

 

Remainder 2016

 

$

12,031

 

2017

 

 

44,183

 

2018

 

 

41,138

 

2019

 

 

39,100

 

2020

 

 

36,878

 

Thereafter

 

 

185,101

 

Total

 

$

358,431