XML 42 R17.htm IDEA: XBRL DOCUMENT v3.22.0.1
Goodwill and Intangible Assets, Net
12 Months Ended
Dec. 31, 2021
Goodwill And Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net

9. 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, 2019

 

$

1,204,694

 

 

$

290,976

 

 

$

46,612

 

 

$

20,586

 

 

 

$

1,562,868

 

Foreign exchange translation adjustment

 

 

1,064

 

 

 

 

 

 

1,435

 

 

 

655

 

 

 

 

3,154

 

Goodwill at December 31, 2020

 

$

1,205,758

 

 

$

290,976

 

 

$

48,047

 

 

$

21,241

 

 

 

$

1,566,022

 

Acquisitions

 

 

 

 

 

 

 

 

 

 

 

670,874

 

(1)

 

 

670,874

 

Foreign exchange translation adjustment

 

 

(315

)

 

 

 

 

 

 

 

 

(195

)

 

 

 

(510

)

Goodwill at December 31, 2021

 

$

1,205,443

 

 

$

290,976

 

 

$

48,047

 

 

$

691,920

 

 

 

$

2,236,386

 

 

(1)

Reflects the impact of the acquisition of RCA.

 

Intangible Assets, Net

The following table presents the amount of amortization expense related to intangible assets by category for the periods indicated:

 

 

Years Ended

 

 

 

December 31,

 

 

December 31,

 

 

December 31,

 

(in thousands)

 

2021

 

 

2020

 

 

2019

 

Amortization expense of acquired intangible assets

 

$

42,242

 

 

$

34,049

 

 

$

34,773

 

Amortization expense of internally developed

   capitalized software

 

 

22,337

 

 

 

22,892

 

 

 

14,637

 

Write-off of internally developed capitalized software

 

 

16,013

 

 

 

 

 

 

 

Total amortization of intangible assets expense

 

$

80,592

 

 

$

56,941

 

 

$

49,410

 

Following management’s decision to discontinue development and cease related sales activities of certain Analytics segment products and transition existing customers to other product offerings, the Company wrote off $16.0 million of certain internally developed capitalized software intangible assets (consisting of $46.3 million of gross intangible assets less $30.3 million of accumulated amortization) during the year ended December 31, 2021. The non-cash charge is recorded as a component of “Amortization of intangible assets” on the Consolidated Statement of Income.

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

 

 

 

 

 

As of

 

 

 

Estimated

 

December 31,

 

 

December 31,

 

 

 

Useful Lives

 

2021

 

 

2020

 

 

 

 

 

(in thousands)

 

Gross intangible assets:

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

13 to 21 years

 

$

532,400

 

 

$

356,700

 

Proprietary data

 

11 to 13 years

 

 

220,639

 

 

 

28,627

 

Acquired technology and software

 

8 to 9 years

 

 

209,220

 

 

 

177,720

 

Trademarks

 

2 to 21.5 years

 

 

208,190

 

 

 

207,300

 

Internally developed capitalized software

 

3 to 5 years

 

 

106,181

 

 

 

113,188

 

Subtotal

 

 

 

 

1,276,630

 

 

 

883,535

 

Foreign exchange translation adjustment

 

 

 

 

(5,782

)

 

 

(5,262

)

Total gross intangible assets

 

 

 

$

1,270,848

 

 

$

878,273

 

Accumulated amortization:

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

 

$

(277,865

)

 

$

(253,465

)

Proprietary data

 

 

 

 

(22,678

)

 

 

(15,730

)

Acquired technology and software

 

 

 

 

(175,718

)

 

 

(174,032

)

Trademarks

 

 

 

 

(152,468

)

 

 

(143,207

)

Internally developed capitalized software

 

 

 

 

(49,394

)

 

 

(57,464

)

Subtotal

 

 

 

 

(678,123

)

 

 

(643,898

)

Foreign exchange translation adjustment

 

 

 

 

616

 

 

 

373

 

Total accumulated amortization

 

 

 

$

(677,507

)

 

$

(643,525

)

Net intangible assets:

 

 

 

 

 

 

 

 

 

 

Customer relationships

 

 

 

$

254,535

 

 

$

103,235

 

Proprietary data

 

 

 

 

197,961

 

 

 

12,897

 

Acquired technology and software

 

 

 

 

33,502

 

 

 

3,688

 

Trademarks

 

 

 

 

55,722

 

 

 

64,093

 

Internally developed capitalized software

 

 

 

 

56,787

 

 

 

55,724

 

Subtotal

 

 

 

 

598,507

 

 

 

239,637

 

Foreign exchange translation adjustment

 

 

 

 

(5,166

)

 

 

(4,889

)

Total net intangible assets

 

 

 

$

593,341

 

 

$

234,748

 

 

 

Estimated amortization expense for succeeding years is presented below:

 

Years Ending December 31,

 

Amortization

Expense

 

 

 

(in thousands)

 

2022

 

$

87,438

 

2023

 

 

81,532

 

2024

 

 

74,370

 

2025

 

 

51,800

 

2026

 

 

36,175

 

Thereafter

 

 

262,026

 

Total

 

$

593,341