Goodwill and Intangible Assets, Net |
6. GOODWILL AND INTANGIBLE ASSETS, NET
Goodwill
The following table presents goodwill by reportable segment:
(in thousands) |
|
Index |
|
|
Analytics |
|
|
ESG and Climate |
|
|
All Other - Private Assets |
|
|
Total |
|
Goodwill at December 31, 2020 |
|
$ |
1,205,758 |
|
|
$ |
290,976 |
|
|
$ |
48,047 |
|
|
$ |
21,241 |
|
|
$ |
1,566,022 |
|
Foreign exchange translation adjustment |
|
|
321 |
|
|
|
— |
|
|
|
— |
|
|
|
198 |
|
|
|
519 |
|
Goodwill at March 31, 2021 |
|
$ |
1,206,079 |
|
|
$ |
290,976 |
|
|
$ |
48,047 |
|
|
$ |
21,439 |
|
|
$ |
1,566,541 |
|
Intangible Assets, Net
The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated:
|
|
Three Months Ended |
|
|
|
March 31, |
|
(in thousands) |
|
2021 |
|
|
2020 |
|
Amortization expense of acquired intangible assets |
|
$ |
8,368 |
|
|
$ |
8,778 |
|
Amortization expense of internally developed
capitalized software |
|
|
6,700 |
|
|
|
4,998 |
|
Total amortization of intangible assets expense |
|
$ |
15,068 |
|
|
$ |
13,776 |
|
The gross carrying and accumulated amortization amounts related to the Company’s intangible assets were as follows:
|
|
As of |
|
|
|
March 31, |
|
|
December 31, |
|
|
|
2021 |
|
|
2020 |
|
|
|
(in thousands) |
|
Gross intangible assets: |
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
356,700 |
|
|
$ |
356,700 |
|
Trademarks/trade names |
|
|
207,300 |
|
|
|
207,300 |
|
Technology/software |
|
|
300,607 |
|
|
|
290,908 |
|
Proprietary data |
|
|
28,627 |
|
|
|
28,627 |
|
Subtotal |
|
|
893,234 |
|
|
|
883,535 |
|
Foreign exchange translation adjustment |
|
|
(4,795 |
) |
|
|
(5,262 |
) |
Total gross intangible assets |
|
$ |
888,439 |
|
|
$ |
878,273 |
|
Accumulated amortization: |
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
(258,925 |
) |
|
$ |
(253,465 |
) |
Trademarks/trade names |
|
|
(145,490 |
) |
|
|
(143,207 |
) |
Technology/software |
|
|
(238,361 |
) |
|
|
(231,496 |
) |
Proprietary data |
|
|
(16,202 |
) |
|
|
(15,730 |
) |
Subtotal |
|
|
(658,978 |
) |
|
|
(643,898 |
) |
Foreign exchange translation adjustment |
|
|
134 |
|
|
|
373 |
|
Total accumulated amortization |
|
$ |
(658,844 |
) |
|
$ |
(643,525 |
) |
Net intangible assets: |
|
|
|
|
|
|
|
|
Customer relationships |
|
$ |
97,775 |
|
|
$ |
103,235 |
|
Trademarks/trade names |
|
|
61,810 |
|
|
|
64,093 |
|
Technology/software |
|
|
62,246 |
|
|
|
59,412 |
|
Proprietary data |
|
|
12,425 |
|
|
|
12,897 |
|
Subtotal |
|
|
234,256 |
|
|
|
239,637 |
|
Foreign exchange translation adjustment |
|
|
(4,661 |
) |
|
|
(4,889 |
) |
Total net intangible assets |
|
$ |
229,595 |
|
|
$ |
234,748 |
|
The following table presents the estimated amortization expense for the remainder of the year ending December 31, 2021 and succeeding years:
Years Ending December 31, |
|
Amortization
Expense |
|
|
|
(in thousands) |
|
Remainder of 2021 |
|
$ |
46,478 |
|
2022 |
|
|
55,353 |
|
2023 |
|
|
44,685 |
|
2024 |
|
|
36,164 |
|
2025 |
|
|
21,026 |
|
Thereafter |
|
|
25,889 |
|
Total |
|
$ |
229,595 |
|
|