Intangible Assets and Goodwill

12 Months Ended

Dec. 31, 2021

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets and Goodwill

8. Intangible Assets and Goodwill

The following tables present certain information regarding our intangible assets. Amortizable intangible assets are being amortized on a straight-line basis over their estimated useful lives of ten years with no estimated residual values, which materially approximates the expected pattern of use.

	December 31, 2021			December 31, 2020
	(in millions)
Trademarks	$	22.1		$	22.4
Customer relationships		32.7			20.7
		54.8			43.1
Less: accumulated amortization		(35.9	)		(35.4	)
	$	18.9		$	7.7

Aggregate intangible asset amortization expense amounted to $0.9 million, $2.4 million and $3.5 million for the years ended December 31, 2021, 2020 and 2019, respectively.

The estimated intangible asset amortization expense for the years ending December 31 are as follows:

Year ending December 31, (in millions)
2022	$	1.8
2023		1.8
2024		1.8
2025		1.8
2026		1.8
Thereafter		9.9
Total	$	18.9

Goodwill

Goodwill is summarized as follows:

	December 31, 2021			December 31, 2020
	(in millions)
Balance at beginning of period	$	83.7		$	80.9
Foreign currency translation adjustments		(1.0	)		2.6
Acquisition of NTG		—			0.2
Ending balance	$	82.7		$	83.7

Amounts relating to the Acquisition of NTG for the year ended December 31, 2020 relate to asset valuations that were revised during the year.

INSPIRED ENTERTAINMENT, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2021 AND 2020, AND FOR THE YEARS ENDED

DECEMBER 31, 2021, 2020 AND 2019