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Goodwill and Other Intangible Assets (Tables)
9 Months Ended
Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]  
Balances of Goodwill by Reporting Unit

The balances of goodwill by reporting unit are presented below:

 

 

 

Gross book
value at
December 31,
2020

 

 

Accumulated
impairment
charges at
December 31,
2020

 

 

Net book
value at
December 31,
2020

 

 

Foreign
exchange and
other
adjustments

 

 

Net book value at September 30, 2021

 

 

Capital Markets - Software Solutions

 

$

103.7

 

 

$

 

 

$

103.7

 

 

$

 

 

$

103.7

 

 

Capital Markets - Compliance and Communications Management

 

 

253.0

 

 

 

 

 

 

253.0

 

 

 

 

 

 

253.0

 

 

Investment Companies - Software Solutions

 

 

53.2

 

 

 

 

 

 

53.2

 

 

 

 

 

 

53.2

 

 

Investment Companies - Compliance and Communications Management

 

 

40.6

 

 

 

(40.6

)

 

 

 

 

 

 

 

 

 

 

Total

 

$

450.5

 

 

$

(40.6

)

 

$

409.9

 

 

$

 

 

$

409.9

 

 

Components of Other Intangible Assets

The components of other intangible assets at September 30, 2021 and December 31, 2020 were as follows:

 

 

September 30, 2021

 

 

December 31, 2020

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

 

Gross
Carrying
Amount

 

 

Accumulated
Amortization

 

 

Net Book
Value

 

Customer relationships (useful life of 15 years)

$

10.4

 

 

$

(1.9

)

 

$

8.5

 

 

$

10.4

 

 

$

(1.4

)

 

$

9.0

 

Trade names (useful life of 5 years)

 

1.0

 

 

 

(0.5

)

 

 

0.5

 

 

 

1.0

 

 

 

(0.4

)

 

 

0.6

 

Software license (useful life of 3 years)

 

0.3

 

 

 

(0.2

)

 

 

0.1

 

 

 

0.3

 

 

 

(0.1

)

 

 

0.2

 

Total other intangible assets

$

11.7

 

 

$

(2.6

)

 

$

9.1

 

 

$

11.7

 

 

$

(1.9

)

 

$

9.8

 

Schedule of Estimated Annual Amortization Expense Related to Other Intangible Assets

The following table outlines the estimated annual amortization expense related to other intangible assets:

 

For the year ending December 31,

Amount

 

2021 (excluding the nine months ended September 30, 2021)

$

0.3

 

2022

 

1.0

 

2023

 

0.9

 

2024

 

0.7

 

2025

 

0.7

 

2026 and thereafter

 

5.5

 

Total

$

9.1